Incredibly Common Bitcoin Queries Answered

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.

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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.

Rose

Rose is a technology enthusiast and a writer. She had the interest to write articles related to technology, software, Mobiles, Gadgets and many more.

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