You can do many things with Bitcoin in 2023, but this largely depends on your wants and where you live. Here's what you can do with Bitcoin in 2023.
The world has had Bitcoin for over a decade now. When Satoshi Nakamoto introduced it, they wanted it to be an exchange medium for daily transactions. Thus, people could purchase everything, from snacks to apartments. However, this cryptocurrency failed to achieve its initial goal immediately after its launch because some people associated it with criminal activities. Ideally, some people thought criminals could use Bitcoin's pseudonymity to hide their identities.
Also, its increasing value prompted people to purchase and sell it as a tradable commodity or an investment asset. But things have eventually changed with some countries legalizing Bitcoin as their tender. However, this does not mean you can use Bitcoin for purchases everywhere since only some merchants are under the obligation to accept it.
When countries like El Salvador made Bitcoin a legal tender, it meant that merchants in that country had to accept it. That meant people could use Bitcoin alongside the US dollar. However, Bitcoin is not a legal tender in some countries. Therefore, merchants in those countries are not under a legal obligation to accept Bitcoin payments. However, people can still do many things with this virtual currency. Here's a list of the things you can do with Bitcoin in 2023.
Trading
Several crypto exchanges, such as Yuan Pay App, allow individuals to sign up, load their accounts with fiat money, and start trading Bitcoin. Trading is among the crucial things you can do with Bitcoin in 2023. Bitcoin's volatility enables individuals to speculate and earn from the activity. For instance, you can purchase Bitcoin when the price drops and sell it once it increases. Alternatively, you can buy and hold your crypto asset for a relatively long period. That's what many people consider a crypto investment. With this approach, you keep Bitcoin in your crypto wallet, hoping its value will eventually increase.
Booking Flights and Hotels
Over the years, Bitcoin has become an acceptable payment method in the travel industry. You can book a flight or reserve a hotel room using BTC. For instance, websites like CheapAir and BTCTrip allow people to pay for air tickets using this virtual currency. Also, you can use Bitcoin to book hotel rooms on Expedia. So, if you travel more often and have Bitcoins in your crypto wallet, you can spend them on flights and accommodation.
E-commerce Payments
You can also shop online and pay using Bitcoin. Several e-commerce companies accept BTC as a mode of payment. For instance, you can purchase goods on Overstock and Newegg using your crypto coins. Also, you can pay for items like watches and domain names using Bitcoin. And this may indicate the trend where Bitcoin will eventually become a mainstream payment method.
Donations
If you want to donate to charity but don't want to use your credit card or PayPal account, you can use Bitcoin. Several charities and non-profit organizations accept BTC as a donation. Nevertheless, ask whether the charity you want to donate Bitcoin to accepts cryptocurrencies.
Paying for Services
You can also use Bitcoin to pay for various services. For instance, Microsoft allows people to add money to their Microsoft accounts using BTC to buy games, movies, and apps from the Windows store. Also, you can pay for web hosting services using this virtual currency. You can use Bitcoin to pay for goods and services like any other currency. Also, you can trade it or hold it as an investment.
Nevertheless, what you can do with Bitcoin in 2023 depends on how widely merchants and organizations accept it. If more countries make it a legal tender and businesses start taking it, its utility will continue to grow. And this trend is increasing, hinting at a bright future for this cryptocurrency.