7 Uses of Bitcoin that you don’t know
Everyone knows just basic uses of Bitcoin which is to transfer funds. But I’m here presenting some of the advance use of Bitcoin that you should know before entering into crypto currency markets.
1. Buying Digital Goods & Services
With Bitcoin you can now buy digital goods and services like Domain Name, web hosting and premium membership on some website like Pornhub if you’re fan of adult entertainment.
2. Investment Support
If you like to do business with international people, bitcoin is best choice. With the use of bitcoin, you can do investment in other businesses (of-course after verifying and finding legitimate business) by contributing to ICO crowd-sale.
3. Funding Illegal Activities
As there are no any government regulatory situated to control operations of Bitcoin digital currency, one can easily support illegal activities related to drugs, crime, illegal ammo supply etc. That is one of the bad use of bitcoin but still possible. That could be the one reason government failing to encourage use of Bitcoin in some countries like India, Japan etc.
4. Instant Money Transfer
Its possible to convert Bitcoin to fiat currencies using crypto currency exchanges like Binanace, Poloneix, Yobit etc. Bitcoin is digital currency, so one can easily transfer Bitcoin to another user’s wallet address in just few minutes. There is no need of identity verification, external account setup, KYC verification and it saves almost 10% tax happen in international remittance. So people can use digital currency and actually save lot of money avoiding extra taxes on their funds.
5. TOR Market activities on Dark Websites
Almost all illegal activities happen on TOR websites, like buying and selling drugs and illegal things. With bitcoin you can take part in TOR markets and enjoy buying and selling those stuffs you never see on general shopping websites.
6. Use with Bank Loans
Banks in Germany now accepts bitcoin to transfer loans. It supports up to loan amount of $50,000 USD. Adoption of Bitcoin has been rapid in Germany.
7. Enjoy Brothel Sex
With Bitcoin, you can now enjoy having sex at Brothel in USA. In last week, one of the sex workers of USA brothel accepted bitcoin worth $700 to have sex, with this effect many brothels have been started accepting bitcoin as a payment method.