7 Easy Ways To Spend Your Bitcoin

The term Bitcoin should be familiar to you by now; as such, it needs no introduction. However, while almost everyone on planet Earth has heard of it (or may even own some), many people are still unaware of what they can use it for. Unless you are from El Salvador (more on that later), It can be challenging to find ways to spend your BTC instead of simply accumulating it. Fortunately for you, this post will cover seven exciting and unique ways to spend and enjoy your BTC.

Use It For Your Hobbies

One of the most common hobbies worldwide is gambling. The reasons for this are long and varied, but suffice it to say, there are millions of people who enjoy having a flutter every now and again. After all, money won is sweeter than money earnt…right!? Well, whatever your feelings on that subject might be, it’s undeniable that gambling is a hobby that many enjoy. As a result of the rise of cryptocurrencies in the past decade, plenty of CryptoCasinos have popped up, offering a dizzying array of prizes, games, and bonuses. Therefore, if you are a gambling enthusiast, investing your BTC in something you are passionate about may be beneficial.

Take A Trip To El Salvador!

El Salvador made headlines in 2021 when it proclaimed that Bitcoin was now an official currency alongside USD. While this might not have been the most prudent move from the country’s young Presidente, it has undoubtedly opened up a lot of doors for those who have BTC to spare and need a vacation! Luckily, El Salvador is a beautiful country with much to offer. The people, the culture, and the natural beauty of this country will make you want to come back for more. In reality, the fact that you can use your Bitcoin as you would conventional currency is the icing on the cake.

Convert It To Cash

Ok, so this might sound like a cop-out, but there is a good reason for including it. Most places don’t accept Bitcoin for numerous reasons, not least of which is its volatility. Therefore, if you really need to spend what you have, your best option is to convert it back into standard fiat currency. However, if you still want to play the speculation game, you don’t have to convert the entire amount. Instead, you can simply take out what you need when you need it and allow the rest to (hopefully) accrue in value. Additionally, if you have access to special Bitcoin ATMs, you could convert it directly from your wallet and withdraw the fiat.

Apply For And Use A Bitcoin Card

Using a Bitcoin debit card, you are able to spend your bitcoins anywhere debit cards are accepted. By converting bitcoins into cash, you can purchase goods and services. Moreover, they also offer an opportunity for people interested in investing in bitcoin but want the option of spending their funds on everyday things.

Use It To Buy Gift Cards

In the early days of cryptocurrency, gift cards were a very popular way to use cryptocurrency to purchase goods in-store or online. The good news is that you can still purchase them via several dedicated retailers who accept crypto as a form of payment. These websites usually buy gift cards in bulk from various well-known retailers like Amazon, Starbucks, Walmart, etc., and then resell them for crypto. In many ways, this is the most convenient method of using your BTC because you will receive your gift card code instantly once payment has been made. You can then go out and purchase whatever you want within the designated amount.

Make A Donation To The Charity Of Your Choice

Cryptocurrency donations are being accepted by an increasing number of charities, making it the ideal way to offload some of your spare BTC and feel good about yourself! Additionally, you might also be in line for a charitable tax deduction. The IRS offers incentives for those who want to donate money or goods to a charity by providing tax deductions for these philanthropic contributions. However, you will need to speak with your accountant to check if BTC donations are eligible. 

Invest It Into Up And Coming Tokens

The final point in this post is to reinvest your Bitcoin into other exciting cryptographic tokens. While the crypto landscape looks a bit shaky at the moment, there are plenty of quality tokens at bargain prices if you look around.

After reading this post, you should be able to come up with some ideas for what to do with your spare Bitcoin. Although it can seem a bit challenging initially, if you think outside the box, there is no limit to what you can buy.