3 things you may not realize about Bitcoin
Bitcoin is the first and the most popular cryptocurrency in the world. Introduced for the first time in 2010, it opened the world to a new range of possibilities. Starting with a value of just $0.008 per coin and increasing to 10 times the amount just 5 days later when the first transaction was completed to purchase 2 pizzas.
Of course, as most already know, the value of the currency increased drastically from there on as investors discover the new-world possibilities this could lead to. In December of 2017, a single Bitcoin was worth over $18,000, giving investors incredible returns on their investments and turning kids who invested their allowance into instant millionaires. It is now also opening up to the possibility of being used as an alternative deposit choice on slot sites further revolutionizing the usage of bitcoin in other industries.
Today, the currency remains a popular topic, but its value has decreased by a rather large sum as a single coin is currently valued at $6,000, which is still much bigger than the starting value.
If you own Bitcoin, even just a small share of a single coin, there’s a lot you can with it. Most think it’s only for investment purposes, but it’s actually become a well-known payment method with many international businesses, allowing you to score some great deals, especially if you were one of those early investors.
Even if you weren’t, the currency still provides excellent benefits, such as being pseudo-anonymous while making transactions and paying no fees as the coin isn’t centralized and simply depends on blockchain technology.
Here are some things you may not have realized about Bitcoin:
We all know the world of technology is shifting extremely fast, especially with the online market and inventors’ creating new ways for us to access the best of what the world has to offer. Blockchain is one of those inventions, and it’s what Bitcoin operates on to complete transactions within seconds.
Mining for Bitcoin has become one of the best ways to get your hands on the currency and it serves as a great way to learn more about how the system works. Sure, you’ll need a rather power computer to make decent cash out of it, but starting off small and upgrading is a possibility everyone can take part in. In short, by participating in crypto mining you can learn a great deal about computer hardware as well as about Bitcoin and the blockchain.
Gambling with Bitcoin
Some of the most recommended online casinos now accept Bitcoin and actually provide gaming opportunities just for the currency. Some casino offer games that have provable fairness, making it 100% accurate and a great way to multiply yourBitcoin. Sure, these are just dice games, but there are also many standard online casinos that allow you to play all types of online slots, table games and much more.
The great thing is, some casinos even allow you to buy Bitcoin, making it possible to popup your account and or even convert your Bitcoin into a different currency.
You can help it grow
Buying Bitcoin is exciting all on its own but seeing your investment grow is simply an unbeatable experience. There are many people who educate businesses and online stores about Bitcoin and how it can be used safely while avoiding scams. The more stores accept Bitcoin, the better as there are only 21 million coins available. Therefore, if the demand for the coins increase, the value would go up as well, making your cut worth even more.
Helping Bitcoin grow in addition to mining is a brilliant way of getting the most out of this currency. Not only do your earn Bitcoin for allowing the system to use your computer to solve transactions (aka mining), but you’ll be creating more transactions as people use the coin to do online shopping and even use it at retailers.
There are already thousands on stores accepting Bitcoin and other cryptocurrencies, but many more that aren’t aware of the coin and what it represents. If you find an online store that’s not aware about the coin, take the time and educate them to help your investments grow even faster.