Check out these 5 ways to invest and 5 other ways to pay with Bitcoin in 2022.
The ongoing cryptocurrency bear market is causing many to reconsider their Bitcoin buying decisions. But as any seasoned investor will tell you, Bitcoin’s utility outweighs these short-term ups and downs. Bitcoin’s price is just above $16,000 at the moment, making it a great time to buy and hold cheap.
Investing in Bitcoin is only one side of the coin. What about paying with BTC? In 2023, Bitcoin can be used everywhere to buy products and services, or to donate.
Learn more about 10 ways you can invest and pay for Bitcoin in 2023.
10 ways to invest and pay in Bitcoin in 2023
Given the current state of the crypto market, it’s natural to feel apprehensive about investing in Bitcoin in 2023. Things have gotten worse in the wake of the massive FTX scandal.
However, it will not be until 2023 that cryptocurrencies and the underlying blockchain technology will see widespread adoption. Global spending on blockchain technology US$6.6bn in 2021 to US$19bn in 2024Investing in Bitcoin should remain one of your financial priorities in 2023.
This guide is divided into two sections. In the first section, learn about his 5 ways to invest in Bitcoin in 2023. The second section describes his 5 places where you can pay with Bitcoin.
5 Ways to Invest in Bitcoin in 2023
Here are the 5 best ways to invest in BTC in 2023.
1. Crypto exchange
Cryptocurrency exchanges are the most popular way to buy Bitcoin. Most of us are already familiar with major cryptocurrency exchanges such as Binance, Crypto.com and Coinbase.
A cryptocurrency exchange is basically a large market for cryptocurrencies. For example, if you want to buy 0.5 BTC, cryptocurrency exchanges will offer it without you needing to find a seller. The ease of buying cryptocurrencies through exchanges makes it the most convenient solution for individual cryptocurrency investors.
There are multiple reasons to choose a cryptocurrency exchange to buy Bitcoin. At the same time, you should be aware of the fees they charge. For other ways to buy Bitcoin, keep reading.
2. Fintech apps
Fintech apps are different from cryptocurrency exchanges in that they don’t just deal in cryptocurrencies. For example, you can: Buy bitcoin with credit card on MoonPay Instead of signing up on major cryptocurrency exchanges like Binance. You can also buy bitcoins from popular apps like PayPal and Venmo.
There are so many different types of fintech apps dealing with crypto that it’s hard to neatly categorize them into one segment. Some platforms facilitate cryptocurrency payments, while others allow you to buy and hold bitcoin within the platform. With so many fintech and financial companies offering retail users the option to buy Bitcoin, it’s easy to get confused.
If you think a fintech app is a better fit than a cryptocurrency exchange, go for it.
3. Securities companies
Some traditional stockbrokers such as Robinhood and eToro also allow users to buy Bitcoin directly from their platform. Crypto markets like Binance are different from stockbrokers like Robinhood.
Stockbrokers are more traditional financial institutions, while cryptomarkets are platforms that only deal with cryptocurrencies.
To buy bitcoin from a traditional stockbroker, you need to open an account with that brokerage firm and fund your account. Once the money is credited to your account, you will be able to buy Bitcoin directly from the stockbroker.
The process is similar to purchasing any other asset from a traditional stockbroker. Some crypto investors prefer stockbrokers over cryptocurrency exchanges for security reasons, but stockbrokers may charge more fees than major cryptocurrency exchanges.
4. Invest in companies with high Bitcoin exposure
When you invest in companies such as MicroStrategy Inc, Marathon Digital Holdings or even Tesla, you are indirectly investing in Bitcoin.The concept is similar to investing in gold mining companies rather than physical gold. .
how does that work? As the price of Bitcoin rises, we expect the shares of these companies to rise as well.On the contrary, they are somewhat protected against a sharp drop in the Bitcoin price. passive source of income for them.
The top 10 public companies with the highest BTC holdings are:
- Micro Strategy Inc.
- Marathon Digital Holdings
- coin base
- Square Co., Ltd.
- Hut 8 Mining Corporation
- hive blockchain
- Nexon Co., Ltd.
- Voyager Digital Inc.
- Aker ASA (Seetee AS)
5. Peer-to-Peer Transactions
Peer-to-peer BTC purchases are the easiest way to buy Bitcoin in 2023. If you want to buy Bitcoin and you know someone who wants to sell it, you can buy it directly from them. Her BTC purchased will be sent to your wallet and will need to be paid manually to the seller.
Peer-to-peer transactions are fast and easy, but usually insecure. Pay an online stranger her BTC and she will disappear with your money. Unfortunately, peer-to-peer bitcoin transaction fraud is prevalent, so unless you know the seller personally, stay away from this method.
Buying and selling BTC peer-to-peer is risky and should always be proceeded with caution.
5 ways to pay with Bitcoin in 2023
Here are 5 different ways to spend BTC in 2023.
1. Online casino
If you are a regular user of online casinos, you will find endless ways to spend Bitcoin in 2023. Online casinos have become very popular over the last few years and many major platforms allow users to participate in online gambling using cryptocurrencies. Payouts are also generally faster when using Bitcoin and other cryptocurrencies at online casinos.
Online casinos are not for everyone, but they are a good way to spend Bitcoin. Depending on your platform of choice, using Bitcoin or other cryptocurrencies can offer exciting rewards and cashback.
2. Buy a gift card
You can also buy e-gift cards with Bitcoin.Buy a gift card and give it to someone else, you can use the value of the gift card to buy whatever you want from your partner ecommerce store and website). Here is a list of platforms where you can buy gift cards with Bitcoin:
- open dime
- bit refill
- gift off
You can buy anything with Bitcoin, from Amazon to Zalando gift cards. Given the fact that gift card recipients can buy anything, not just crypto-related products, it’s a great way to spend Bitcoin. So if you’re running out of gift ideas this holiday season, here’s where you can put your Bitcoin to good use.
3. Donate to Wikipedia
Wikipedia recently said that donors can now use Bitcoin to donate to the Wikimedia Foundation. According to the official memo, these donations will help the foundation continue to provide free knowledge to all.
Founded in 2003, the Wikimedia Foundation is a non-profit organization that supports Wikipedia and its sister projects. The organization relies on donations to operate. Bitcoin donations help the foundation continue its work to provide free knowledge for all.
The Wikimedia Foundation has partnered with Coinbase to process Bitcoin donations. Coinbase is a digital currency wallet and platform that allows merchants and consumers to trade in new digital currencies such as Bitcoin, Ethereum and Litecoin. if the donation is yoursI have no problem spending Bitcoin for a reason.
4, Buy from excess inventory
Overstock is a retail website that offers a variety of high-quality goods such as furniture, rugs, bedding, electronics, clothing, and more. It has a reputation for offering incredible value for money, primarily because it sells products that are considered deadstock.
Overstock is also known as one of the early adopters of Bitcoin. In 2014, users were still able to trade in Bitcoin. Even in 2023, he remains one of the most popular platforms using Bitcoin.
Overstock currently accepts BTC payments through Coinbase. One of the best platforms to buy groceries using Bitcoin. Next time someone tells you that you can’t buy anything with Bitcoin, talk about overstock.
5. Peer-to-peer payments
A peer-to-peer bitcoin payment refers to one individual selling his bitcoin directly to another individual. It works just like a peer-to-peer Bitcoin purchase. You’ve found someone who wants to buy bitcoin and send your girlfriend’s BTC directly to their wallet.
The best peer-to-peer Bitcoin payment platforms include LocalBitcoins, Paxful, and Bisq. Each of these platforms offers unique elements and services that are ideal for specific types of buyers, sellers, and traders.
Peer-to-peer transactions always have an element of risk. If you are making peer-to-peer BTC payments for him, make sure the seller is legitimate and does not disappear with Bitcoin. Once the risks are mitigated, this is one of the easiest ways to use Bitcoin in 2023.
The future of Bitcoin is still bright
If you are planning to invest in Bitcoin in 2023, there are many things to keep in mind.
We hope this guide helps you get started on your Bitcoin journey in 2023.