Connect with us

Bitcoin

6 Surprising Things You Can Buy with Bitcoins

Published

on

If you think that cryptocurrency especially bitcoin has no other significant use than trading, then you are wrong!

Bitcoin investment is getting tremendous popularity due to security and control over money. But did you know that it has been using as a form of payment? 

If you have a couple of bitcoins in your pocket, then you can utilize them in some best possible ways. How?

Advertisement

Bitcoin was originally developed as a “peer-to-peer electronic cash system” which means it’s a decentralized payment solution that enables people to take control over their finances and make some essential purchases without using government-issued currency.

Due to its transparent set of rules and features, it’s now easy to buy, trade, and sell Bitcoin in Dubai instantly and securely within minutes. 

So, without further ado, let’s just continue with the list of things that you can buy with bitcoins today.

Advertisement
  1. Pizza and fast food:

There are a lot of reliable and well-reputed food chains that accept cryptocurrency like bitcoins as payments. If you are starving and only have a few bitcoins in your pocket, then you can easily purchase pizza and a fast-food company that accepts payment in bitcoins.

For example, the subway is a popular choice that has been accepting bitcoins for a decade.

2. Event tickets:

You may feel surprised to know the fact that you can also buy event tickets if you have bitcoins in your digital wallet. Many event planners love to provide the best deals to people if they buy tickets with bitcoins. 

Advertisement

So, if you are an event management company, you can accept payments in bitcoins while increasing the value.

3. Cars:

Cars- one of the most notable things that can be purchased with bitcoins. You must have heard that Tesla also accepts payment in bitcoins. 

Advertisement

But unfortunately, it’s not that simple! When you pay through bitcoins to buy a car, you won’t have an option to refund. Not only that, but you will also have an option to think for 30 minutes to finalize the deal and the company will not send any refund after that.

4. Furnishings:

If you are in the market for buying some new furnishings for your home or office, then bitcoins can help you do that!

Advertisement

However, before purchasing, you need to ensure that you check all the terms and conditions of your service provider. Because there are a lot of reputable retailers in the market that offer you this golden opportunity, but again, there will be no going back while purchasing bitcoin!

5. A vacation:

Want to spend some quality time with your family? No worries, bitcoin is again here to serve!

Advertisement

Yes, that’s true. You can now enjoy your vacations by paying through bitcoins. 

There are a lot of reputable and trustable airlines that now accept bitcoins as ticket payments. The surprising thing is, you might get the privilege of enjoying cheap fares when you pay through bitcoins. 

You can easily plan your vacations at incredibly low costs with bitcoins in your pocket.

Advertisement

6. Clothes:

Whether you are looking to buy casual clothes or designer outfits for a party, you can buy anything while paying through bitcoins and shop dozens of your favorite clothes within minutes.

Final Thoughts:

Advertisement

There are still lots of things that you can purchase with bitcoins. So don’t worry, if a few bitcoins are burning a hole in your pocket, then you can easily utilize them in buying your favorite things and enjoy great deals. 

However, if you belong to Dubai and looking for an opportunity to buy or sell Bitcoins in Dubai, then you need to consult with a trustworthy online exchange in the industry so you can securely manage your funds with high-security standards.

Advertisement

Bitcoin

Expert calls El Salvador’s Bitcoin volcano bonds, ‘Michael Saylor playbook for a country’

Published

on

El Salvador’s “Bitcoin City” and the proposed $1 billion Bitcoin volcano bond have ignited a range of reactions across the world. These are ambitious plans, no doubt, but they come as the crypto market is seeing a downturn and major economies are fighting inflation.

During an episode of the What Bitcoin Did podcast, host Peter McCormack spoke to macroeconomist Lyn Alden about El Salvador’s Bitcoin volcano bonds and whether they make sense.

Fire up the oven

To be issued in 2022, the first volcano bond will have a BTC booster coupon rate of 6.5% and a decade-long duration. Interestingly, $500 million will reportedly be used for Bitcoin mining, while the other $500 million is ideally for buying BTC, which will be stored for five years. If it goes up in value, investors stand to make gains.

Advertisement

Alden called the volcano bonds the “Michael Saylor playbook for a country,” and said,

“It’s a very similar play to what a lot of entities do with real estate, where you never sell the real estate, you just keep refinancing it over time as it goes up in value. And, Bitcoin is basically a more volatile version of that. Obviously, it’s got less track record – 13 years. But the potential gains, if you’re right, are massive.”

However, Alden stressed the need for experts in the Bitcoin mining process. She said,

“Now, my understanding is that obviously, geothermal is very attractive energy to use. The climate [in El Salvador] is not super ideal for Bitcoin miners. And, so overall, you generally would want to have experts there who make sure that it makes financial sense at the end of the day…”

But what if…

McCormack asked if generating $65 million per year was enough to pay investors. For her part, Alden was cautious and reminded viewers to consider credit risks, interest payments, and the market’s reaction. However, she noted,

Advertisement

“And this is kind of the game theory of, say, different countries, where El Salvador has less to lose in some sense. They, you know, they basically..have already had economic issues.”

McCormack and Alden agreed that the success of the volcano bond hinged on Bitcoin rallying for the next five years.

Bitcoin below $60,000

El Salvador’s President Nayib Bukele might be bullish, but the market has been seeing bearish momentum, as Bitcoin fell to $54,729.53 at press time. What’s more, the market was hovering around the fear or neutral territory for several days.

News Source

Advertisement
Continue Reading

Bitcoin

El Salvador Buys the Bitcoin Dip Amid “Black Friday Sale”

Published

on

El Salvador took advantage of the sell-off, adding more coins to the country’s treasury

El Salvador’s President Nayib Bukele has taken to Twitter to announce that the country has added 100 Bitcoin ($5.4 million) to its treasury.

Advertisement

The Bitcoin price plunged by more than 9% earlier today amid the global market sell-off.  

The fact that the plunge took on Black Friday, the day retailers slash prices to attract deal-hunters and cause shopping bonanza, prompted many corny and tired jokes about Bitcoin being actually on sale. Hence, many holders are being encouraged to buy the dip. 

In late October, El Salvador bought 420 Bitcoin that was worth roughly $26 million at the time when the purchase was announced by Bukele on Twitter.

Earlier this month, the tropical country also announced its plan to build the first Bitcoin city in the world, which will be situated at the base of a volcano. It has partnered with blockchain company Blockstream in order to raise $1 billion via a “Bitcoin Bond” and fund the highly ambitious project.           

In early September, El Salvador made history by becoming the first country to adopt Bitcoin as its official currency.        

Advertisement

News Source

Continue Reading

Bitcoin

Is Bitcoin Entering a Bear Market? Top Analyst Updates Outlook After Sharp Crypto Pullback

Published

on

Popular crypto strategist and trader Michaël van de Poppe is looking at where Bitcoin (BTC) might be headed as markets worldwide nosedive amid the discovery of a new coronavirus variant.

In a new strategy session, Van de Poppe tells his 148,000 YouTube subscribers that it’s a combination of concern about more lockdowns as well as a cyclical correction that has investors seeing red.

“Not only the crypto markets are showing weakness at this point, as also the European stock markets opened significantly red today… and also the US stock markets are going to open in the red. But there are certain fears about the coronavirus lockdowns coming again. But there are also discussions about tapering happening at this point, and actually, the markets were due for a correction too. We have been grinding up heavily while the actual impact of a potential lockdown was not visible yet.

Advertisement

Right now we do see one, and we still have a very natural and healthy corrective move which we haven’t been seeing in the past few months. In September we’ve had one, but since then no real correction has been taking place.

So finally we’re getting it, and when the dollar is showing strength it would make sense that the equities are going to have some pain too. Bitcoin has been seeing this correction already. Equities are following suit in the past week now too.”

The analyst goes on to assess Bitcoin’s latest price dip, going so far as to conclude that while he doesn’t think BTC is entering a bull market, he’s doubtful about relying on traditional four-year models for predicting future price action.

Advertisement

“I really believe the reason why Bitcoin is dropping right now is because of the macroeconomics taking place. But regardless of that, I’m still very sure that the markets are not going to have a bear market at this stage. I think we are still eager for continuation in a bullish manner, but I do realize that the lengthening cycle’s most likely going to take place. A healthy correction is also happening at this point, in which the question becomes, where is Bitcoin going to bottom out? And how are altcoins going to perform out of that?

We can throw away the four-year cycles, we can throw away PlanB’s stock-to-flow model with these predictions because it’s not valid anymore. We are in a different environment when it comes to the markets right now. Clearly, we are currently having a harsh corrective move… but it shows that the markets are not predictable and expecting Bitcoin to run in four-year cycles is just not the case.”

Moving on to specific BTC price analysis, Van de Poppe is eyeing $55,000 as an important support level, but also thinks the leading crypto asset could fall as low as $48,000 – without signifying an end to the bull run.

Advertisement
Source: Michaël van de Poppe/YouTube

“When we’re looking at Bitcoin against [the US dollar], at this point we still have a very important support level [approximately $55,000] that we are acting on right now. The crucial thing when it comes to the daily time frame is that we are flipping this level with $66,000 as resistance and started to crack south.

Meaning that currently, we are into higher time-frame support, but definitely depending on how this daily’s going to close, this is going to be weak going into the weekend, and especially going into next week, it will probably cause some more pain across markets.

In that case, when we’re looking at levels that we should be watching, [$55,000 to $55,600] is the first real level that you should be looking out for. However, the crucial level to me is still this level around $48,000. Even if we get in that region, I still believe that we’re bullish in markets and we’re just having a very natural corrective move before we’re going to accelerate again in 2022.”

At time of writing, Bitcoin is down nearly 8% on the day and trading at $55,186.

Advertisement

News Source

Continue Reading