Where can you use Bitcoin? | The Guardian Nigeria News – Nigeria and World News — Features — The Guardian Nigeria News – Nigeria and World News – Guardian Nigeria

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Are you looking for places where you can use Bitcoin? If so, here’s a list of online and offline businesses that accept Bitcoin payments.
Maybe you’ve heard that Satoshi Nakamoto created Bitcoin as an alternative currency. That means that Bitcoin’s primary purpose was to serve as an electronic currency, allowing users to pay for products and services. Trust lessness and decentralization are the primary traits that endear Bitcoin to individuals and enterprises.
Bitcoin doesn’t depend on a central authority, like a government or bank, to function. Instead, a decentralized system comprising a computer’s network keeps it running on the blockchain. The Bitcoin network confirms and validates transactions to prevent double-spending and counterfeiting, among other potential issues.
Also, this virtual currency uses cryptography and a public digital ledger to create a tamper-proof database for all transactions. Essentially, no single entity can manipulate Bitcoin’s ledger or change transaction details once miners have validated them. But, Bitcoin hasn’t achieved its primary goal of serving as an alternative currency.
Some individuals argue that Bitcoin isn’t usable as a currency due to its volatile nature. Instead, people can trade or speculate about it on platforms like BitIQ. Also known as crypto exchanges, these platforms allow individuals to register and trade Bitcoin using fiat money. You can sign up with such a platform, load your account with fiat money and then buy Bitcoins at a lower price to sell later once their value appreciates.
Nevertheless, Bitcoin payments’ acceptance increases gradually, and people can use Bitcoin in several places.
Facts about Using Bitcoin
Currently, the number of places or merchants accepting Bitcoin payments has increased significantly compared to past years. Initially, some individuals and enterprises thought of Bitcoin as a currency for the black market. Some individuals argued that only criminals could use Bitcoin.
However, this perception has changed, and more merchants take Bitcoin payments. Therefore, individuals and institutions can use Bitcoin for other purchases as an alternative to third-party payments or credit cards.
Also, several companies allow individuals to convert fiat money into Bitcoin and vice versa. You can quickly get Bitcoins using your fiat money or sell your digital coins to get cash. Many people use these companies to get Bitcoins for international and online payments. Bitcoin transactions are near-instant and cheap due to the lightning network’s payment channels.
Top Places to Use Bitcoin
Individuals and institutions can use Bitcoin in several online and offline places, apart from investing or trading Bitcoin. For instance, you can pay for products and services online and offline using this virtual currency. You get a crypto wallet’s address or a QR code to scan and complete a Bitcoin payment in most places.
Use Bitcoin Online
Bitcoin is gradually becoming a preferred payment method for online shoppers and merchants. Here are some online retailers that allow customers to pay with Bitcoin.
Some online shops don’t accept direct Bitcoin payments. Instead, they allow service providers to take Bitcoin payments.
Use Bitcoin Offline
Some offline retailers accept Bitcoin payments. For instance, restaurants and other retail stores allow customers to pay with Bitcoin at their physical locations. Here are some of the offline places where you can pay with Bitcoin.
Whole Foods
Crate+ Barrel
Bitcoin users have several options when using Bitcoin to pay for services and items every day. More companies and merchants have changed their perception of Bitcoin and now accept it as a payment method directly or via payment processors. Consequently, this changing perception is accelerating Bitcoin’s use and adoption worldwide. And this trend might undoubtedly continue as more merchants and companies look for ways to minimize transaction costs and improve efficiency, which Bitcoin facilitates.
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