Cryptocurrencies are taking over the world and it is not much of a surprise anymore. The exchange of money no longer needs to be at the mercy of centralized banks who take unjustifiable sums they claim as fees, just to exchange some digits with another bank who has also taken their share of fees. The physical money doesn’t even get moved from one bank to the other, it’s all digital these days. Wouldn’t it be great if we could send money to a friend or family member and know that it is instant, without any intermediaries, and all done from the convenience of your mobile phone? And that’s just one of the many reasons we could explain Bitcoins meteoric rise in popularity.
Assuming you haven’t yet begun your Bitcoin
journey, you might have many unanswered questions about Bitcoin and
cryptocurrencies in general.
Where Can I Buy Bitcoins?
There are several ways to purchase Bitcoins
whether you are looking to invest in the currency, start trading crypto, or use Bitcoin to purchase
goods and services. While many buyers make use of exchange platforms to buy
from funds in PayPal or even their own bank accounts, you can also make use of
a Bitcoin ATM map
to locate ATM’s near you where you can purchase the digital currency.
What Can I Use Bitcoins For?
Bitcoin is a currency unlike any other. It has
a good trade value against goods and other currencies and is growing stronger
quickly. You use your Bitcoin to buy products and services, especially from
online retailers and suppliers. The latest statistics for 2020 confirm that at
least 36% of US small to medium enterprises happily accept Bitcoin, as well as
some other large and recognizable companies. Well-known names like Microsoft
Corporation, Burger King, Subway, Twitch (the popular online live streaming
platform owned by Amazon), Humble Bundle (an online gaming/software
marketplace), Playboy and even ExpressVPN.
How Can I Turn Bitcoin Into Cash?
But what if you don’t want to buy something
online? What about the things that Bitcoin can’t buy yet? Well, there are ways
to turn your newly acquired Bitcoin into cold, hard cash! First, there are some
things you need to consider: are you taking the easiest route or the cheapest?
Do you want the cash in your bank account or another virtual wallet? How long
are you willing to wait for the withdrawal process? Which currencies do you
want to convert your cryptocurrency into?
One of your options is to use an “old fashioned”
broker exchange – this will require a standard bank account and you can be
assured of a turn-around time that may take anywhere between 24 hours and five
working days. Or you can sell Bitcoin via a peer to peer exchange or even a
very convenient, Bitcoin ATM. As of March 2020, there are over 7000 Bitcoin
ATMs throughout the world. It is becoming more and more clear that Bitcoin is
the currency of the future and the rising demand for easier ways to transact
with it is resulting in advances in technology and multiple physical sites are
being put in place to make it more accessible for the average consumer.
Editorial Staff of the TechnoRoll, are a bunch of Tech Writers, who are writing on the trending topics related to technology news and gadgets reviews.