What Can You Actually Do with Bitcoin In 2020?

Since Bitcoin first emerged in 2009, it has gone from being an obscure curiosity to a technology that everyone knows about. Even if you have no idea how Bitcoin and other cryptocurrencies work, you have almost certainly heard of at least some of its supposed benefits.

To listen to Bitcoin’s most vociferous proponents, you would think cryptocurrencies were the answer to all the world’s problems. While the reality is not quite as impressive as some would like, the range of things you can do with Bitcoin has been steadily growing for the last decade. Below are the most important things you can do with your crypto in 2020.

Invest

Since Bitcoin first launched, the media hasn’t been able to get enough of the stories about its fluctuating price. The value of a Bitcoin can rise or fall by thousands of dollars within the space of a day. This volatility makes Bitcoin a less appealing investment option for experienced investors. However, it is attracting less experienced investors hoping to get lucky.

As well as investing in Bitcoin itself, many investors purchase Bitcoin so they can then exchange it for other cryptocurrencies. Spreading your crypto holdings out over numerous individual coins will shield you from market forces that could otherwise severely disrupt your plans.

Buy Goods and Services

For a cryptocurrency to achieve its ultimate goal of replacing fiat currencies, it needs to be as easy to spend the crypto as real money. Until now, this hasn’t been the case. Buying goods and services with Bitcoin is still more complicated than it is with a bank card. However, we have made significant progress in making purchasing with crypto simple and straightforward. There are even websites dedicated to selling goods and services for crypto.

Gamble

Of all the things you can do with Bitcoin today, gambling is proving to be one of the most popular. Online casinos are nothing new, but it is only relatively recently that they have started to accept Bitcoin payments. Players can now play using Bitcoin, and even receive their payouts in cryptocurrency.
If a bitcoin casino is something that interests you, Bitcoingg.com has a list of options for you to check out. Using lists like these will help you to avoid less scrupulous casinos and stick to providers you can trust.

HODL

It seems that most people who are purchasing bitcoin plan to hold on to it. There is a widespread assumption that Bitcoin’s price will jump significantly at some point in the near future. After all, Bitcoin’s value has risen and fallen dramatically in the past and without warning. However, there are no guarantees with the crypto market – Bitcoin may never rise again.

For now, there isn’t much else you can do with cryptocurrencies. Most people buying Bitcoin are still doing so because they expect or hope its value to rise, not because they actually plan on using it. However, with the range of use cases for Bitcoin rising, it is becoming an increasingly useful commodity.