As we approach the decade-and-a-half mark of its existence, Bitcoin is a term that has become synonymous with cryptocurrencies, tokens, coins, and the like. Of course, if you’ve spent some time in the industry, you know that’s simply not true. However, Bitcoin is the cryptocurrency in regards to popularity, market capitalization, and recognition.
Of course, that doesn’t tell you what you really want to know about this popular cryptocurrency, does it? You don’t need to know all the technical details, but you definitely want to learn more about it, right? We’re here to help. Keep reading to learn more about how to use Bitcoin, where you can buy it, and much more.
Bitcoin continues to grow in popularity as more and more retailers accept it as a form of payment. While there are large corporations that accept BTC- like Microsoft, AT&T, and Home Depot - there are also thousands of small businesses that will take the popular crypto as payment for goods and services.
If you want to use Bitcoin, your best bet is to use it as a payment method. When you use BTC, your digital transactions are stored on the blockchain, which provides a form of transparency along with total control over your funds.
However, to pay with BTC, you’ll need a wallet in which to store it. We’ll talk about that more in a moment. Next, let’s talk about some of the ways you can purchase Bitcoin.
There are a few ways you can buy Bitcoin, but the method you use depends on what you’re most comfortable with. For example, if you’re familiar with buying, selling, trading, or investing online, you might consider a crypto exchange.
However, if you prefer a more tangible and physical experience, you can head toward a BTM or Bitcoin Teller Machine. These machines accept physical currency, like US Dollars, and give you a way to buy BTC without the hassle of messing with an exchange that requires a lot of your personal information. That’s not to say you won’t have to provide some information to a BTM, but it won’t take as long and usually isn’t as intrusive.
A great way to get your hands on BTC using a Bitcoin BTM is through Bitcoin Depot, which offers thousands of locations around the United States. It’s a fast, easy, transparent way to add the world's most popular cryptocurrency to your crypto wallet.
Speaking of wallets…
There are plenty of Bitcoin wallets on the market, you just need to decide which one you want to use. Some are only for your desktop, while others you can download to your phone. There are hot wallets (always connected to the internet) and cold wallets (not connected to the internet).
Of course, we recommend the Bitcoin Depot wallet so you can quickly and easily add Bitcoin from a Bitcoin Depot BTM. The Bitcoin Depot wallet is a mobile wallet available on iOS and Android. That means if you have your smartphone, you’ll have a way to pay a merchant or vendor using BTC.
The Bitcoin Depot wallet is clean, simple, and easy to use, so you’re not left sorting through complex features or filtering through a long list of cryptocurrencies. However, if you want a wallet with plenty of features and capabilities, there are plenty of options out there.
You might be surprised by what you purchase with Bitcoin. Even though the digital currency has only been around for fourteen years, there are plenty of goods and services you can purchase with it. For example, there are dealerships in the United States that will let you pay for your BMW using BTC.
For those that don’t have tens of thousands of BTC burning a hole in their wallet, there are plenty of other retailers who accept the crypto. You can read more about them here, but you can buy Amazon gift cards, tickets to AMC movies, pay for your AT&T cell service, and much more using the popular crypto.
With a Bitcoin wallet, you can pay any retailers and merchants who accept it. For most retailers, all you need to do is scan the available QR code, enter the amount of BTC you’re sending, and complete the transaction. It’s not too complex.
However, if you are sending BTC to an individual or business that doesn’t have a QR code, there are other ways to pay with Bitcoin. One way is by copying the recipient’s wallet address and using it to send the crypto to them.
The great thing about Bitcoin is that when you use it as a form of payment, you’re doing so without the need for a middleman like a bank or other financial institution.
Bitcoin is the biggest cryptocurrency by market cap and was created to solve the problem of inflation. The main purpose of the crypto is to create a currency to hedge against inflation while avoiding the issues of centralized banking through decentralization.
Over the last few years, Bitcoin has proven that it can be a great store of value, as the network has gained the confidence of more investors. Despite not having an everyday transaction use because of its very high transaction fees and slow transaction speed, Bitcoin is paving the way for almost every other cryptocurrency as a proof of concept that cryptocurrencies can be a viable transfer vehicle for peer-to-peer transactions as well as a valuable investment asset.
Now that you know how to use Bitcoin, it’s time to get out there and buy some. Lucky for you, Bitcoin Depot offers an easy, simple way to do so. With our BTMs, you can exchange your cash for BTC anytime you want it. And once you have it, you can use it to buy all sorts of goodies or travel the world. The choice is yours, all thanks to this amazing digital currency we call Bitcoin.