Monday, April 22, 2024

How To Use Bitcoin In Your Everyday Life

How To Use Bitcoin In Your Everyday LifeUnless you have berried your head in the sand then you have heard of Bitcoin. And though there are some people who have made a lot of money with it, odd’s are you won’t.

Here at more than finances we have discussed buying things as large as houses with Bitcoin, and something as small as  a prescription drug (as well as how legal it is). But the question remains, how do you use bitcoin in your everyday life?

Where To You Keep Your Bitcoins?

Like with any money you have to have a way to get it and a way to store it so that it’s safe. We typically will get our paycheck directly deposited to our bank account. From there we will take cash from an ATM, or just pay with everything with a debit card.

The same is true with Bitcoins. I don’t know of any employers that pay in Bitcoin but you may be able to negotiate it depending on the company you work with. If you can’t though you can simply purchase the currency with cash at the current exchange rate.

After you purchase some Bitcoin, then you need to have a secure place for it in order to spend it. Just like regular cash can be secured in a physical wallet your Bitcoin can be kept secured in a digital wallet. You will need pick a wallet before you purchase your bitcoin otherwise it will have nowhere to go when you buy it.

How To Use Bitcoin In Your Everyday Life

Once you have set up the particulars it’s time to start using it in your everyday life. Think of your regular bills that you pay like rent, car payments, groceries, fast food, entertainment, etc. Take this list and find a way that you can use your Bitcoin to pay them.

If you rent ask your landlord if they use, or would be interested in using Bitcoin for payment. Your lender may not be ok with receiving Bitcoin to pay your car loan however asking couldn’t hurt.

Figuring out how to use bitcoin in your everyday life won’t be easy at first, but once you get it figured out it should be easy. A lot of people think they can’t buy small things with Bitcoin but you can go to even Subway and get a footlong all with our Bitcoin.

What Is The Future Of Bitcoin?

As of writing this article Bitcoin seems stable, not only that it’s value is going up. However the past of Bitcoin shows us that the price can drop any second and by a lot.

I cannot tell you what will happen to Bitcoin, everyday a “expert” tells us that the price will go up and stabilize. Yet another tells us that the price will drop and anyone still investing is making the biggest mistake of their life.

We can look at the past to try to figure out what will happen but, only time will tell the truth. For now you can, if you want pay your everyday bills with Bitcoin.

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