Cryptocurrencies started out as a fad and were accepted as a sort of rebellion against corporations, governments, and everyone who wanted to know more about your financial transactions. The first one, and the most valuable, BitCoin was almost worth $20,000 at one point, though its power has slowly been declining over the years. Currently, its value is estimated at $3,500.
So, why continue to use it? There are still people out there who believe in the future of currencies, though the blockchain technology used to make it has moved on to other projects. We are going to list a few places that accept BitCoin as tender, as well as what people spend it on.
While BitCoin is accepted by a large number of companies, others are still a little squeamish about the money they can’t touch. This is why there are sites like BitPay that function like an online exchange office of sorts, where you can exchange your BitCoin for other, more traditional, currencies.
In order to keep up with its customer base, some online bookmakers have started accepting BitCoin as a valid form of payment. It is possible that this was done since the new wave of consumers is young and follows the online trends. Because of this, it is important to cater to their needs – companies still want to remain relevant in the eyes of their prospective consumers.
Goods and Services
Fast food, web hosting, booking traveling tickets, and buying computer hardware and software are all things you can procure using BitCoin. Microsoft accepts it, Playboy accepts it, and if you shop on Amazon using BitCoin, you may get an interesting discount, though you need to use the Purse platform for that.
Why Do People Use It?
People that are around 30 and younger generally enjoy BitCoin as a novelty or a form of digital money that is not easy to access by anyone else. Others like it because it is a decentralized currency – there is no government body issuing it and controlling how much of it is available to the general public and what it’s worth.
There are those that treat BitCoin as stock, rather than a currency. At this point, though, such an investment would not be wise since, as mentioned before, the value of this cryptocurrency is declining. Last, but not least, BitCoin is often the method of payment preferred by people on the Dark Web.
The Dark Web
The Dark Web is a network where most of the internet lies, as opposed to the fraction that we have access to in our everyday lives. It is a bunch of websites that are not registered, so they cannot be accessed using traditional web browsers, like Firefox and Chrome. In order to access and browse the Dark Net, you need Tor, or the Onion Router, which masks where you are coming from and is able to effectively find what you are looking for.
The Dark Web is also the home of the international black market. It is possible to purchase weapons, drugs, and people, as well as put a contract on someone’s head. This is why the cryptocurrencies are so popular on the Dark Web – they offer anonymity, which is why they are suitable for transactions one wishes to keep private.