3 What Can You Do with Bitcoins?
Hypothetically, you can buy just about anything with bitcoin. In practice, however, you’ll only be able to purchase goods and services from merchants and individuals who accept bitcoin as currency. Currently, the amount of vendors that do is fairly limited. There’s a site called SpendBitcoins that lists places that accept the currency.
Similarly, some people use bitcoin as an investment, which would have been a smart prior to its meteoric rise in value. If you bought $5 worth of bitcoin seven years ago, it would equal out to about $4.4 million today, for example. Whether or not it’s a smart move to invest in bitcoin now is up for debate. Lastly, bitcoin is also a good way to easily make international money transfers, as it foregoes the exchange rate.