If you’ve kept half an eye on the world of crypto, you will know that the past 12 months have been difficult ones for Bitcoin investors. However, the relatively brief history of Bitcoin has been littered with ups and downs, and history has shown that every Bitcoin winter tends to be followed by sunshine. There is widespread belief that Bitcoin represents the future. There is more to Bitcoin than simply playing the markets. Here, we look at some practical uses for Bitcoin and other cryptocurrencies that can be put into effect in 2023.
Money transfers
In April 2018, a $99 million Litecoin transaction sent shockwaves through the finance community. The identities of the sender and receiver were never revealed, but what caused all the excitement was that the transaction took less than three minutes to complete and incurred a transaction fee of $0.40.
You might not be planning on sending $99 million in 2023, but we all have to make transfers from time to time, and even sending a few hundred dollars can take days and cost a hefty fee. For anyone making regular transfers, crypto has to be worth serious contemplation.
Bitcoin poker
About 120 million people play poker online, half of whom live in the US. If you count yourself among them, you will know that transferring funds to and from your gambling account can be a pain point. A growing number of Bitcoin poker sites aimed primarily at US online poker players have appeared on the scene over the past year or so and they provide a compelling alternative.
Playing poker with Bitcoin or an altcoin has a host of benefits. Some jurisdictions that are less poker-friendly restrict bank transfers to gambling sites, so crypto provides a compelling alternative here. But wherever you live, Bitcoin poker sites offer secure and fast transactions, minimal fees and high anonymity.
Business investment
If you have a little money available to invest, it can be hard to know where to put it for the best return. Investing in a new business startup can be risky, but it is also a great way to get involved in a venture that captures your imagination. Many use Initial Coin Offerings (ICOs) to raise capital.
This opens up investment opportunities to anyone, not just venture capitalists. Of course, selecting a winner can be a bigger gamble than taking your crypto to the poker table. Be sure to take expert advice before making any significant investment and don’t let the heart overrule the head!
Treat yourself to a new ride
We all deserve a special treat from time to time. De Louvois is a fascinating online marketplace where you can buy and sell luxury items using Bitcoin. Think of it as eBay for Bitcoin millionaires. A glance at their pages shows that fans of Italian supercars are spoilt for choice – some lucky buyer got change from 30 BTC when they recently bought this classic Lamborghini Countach.
If your automotive tastes are more 2020s than 1980s, Tesla has also confirmed that you can use Dogecoin to buy their latest models.
Published by HOLR Magazine