Do you use Bitcoin as a currency or just as an investment?

[rachael9385]

Actually i would have loved to use Bitcoin but in my country it is illegal. But I just think business merchants should start using Bitcoin for purchase of their goods especially those who buy in bulk from outside of their countries.

[Lucius]

...
BTCMap
SpendaBit
BitcoinWide[/size]

+1 karmas sent

I didn't know about these 3 sites 
I thought it was pretty cool, especially https://btcmap.org/
I managed to find 3 professionals who accept BTC in my city hehehe

That's great, sometimes people don't even know that there is someone in their environment who accepts BTC as a means of payment.

As I said in the previous post, what helps me a lot are gift cards that you can easily buy with BTC and use in the services in your city, which usually have (Uber, delivery apps, Mc Donalds etc)

It's always good to have more options to spend BTC if you can't pay directly with it - gift cards are not a bad option, but virtual crypto cards can also serve well, especially if they can be added to a digital wallet (Google/Apple Pay). If you have NFC on your smartphone, you can pay that way at any point of sale that has a POS device.

[Findingnemo]

Very few times because I didn't had the opportunity to spend Bitcoin as it is, but if I had then I won't hesitate to spend them instead of the paper money. Even though Bitcoin is gaining more investors but most of them were for wrong reasons which is invest and get rich but they fail to recognise the actual potential of decentralisation.

[0t3p0t]

It's no secret that Bitcoin is increasingly moving away from the idea of ​​a cryptocurrency in the direction of an investment asset, especially since companies offering spot ETFs started trading with it. It seems to me that there is a similar attitude among small investors, so I am interested in whether the members of this forum use Bitcoin only as an investment in the sense of "buy cheap, sell high", or there are also those who from time to time pay for some digital services with BTC or buy physical things.

I will say that I use BTC as a currency whenever I have the opportunity to do so, and that over the years I have bought a lot of physical things such as televisions, mobile phones, computers and the like and paid for them with BTC - but I also regularly pay for some digital things with BTC.

You are lucky your country has all that merchants that supports Bitcoin payments but here in my country only few services that we are able to pay using Bitcoin only in specific places and that only works in physical stores not online. Some years ago I use it to buy something online but this time we need to convert to local currency first before the purchase.

[gunhell16]

I used bitcoin as a digital currency to buy some of the other cryptocurrencies, which are known to give me future earnings that are nice savings. Although I'm also saving bitcoin, it's just that it's not my priority because other altcoins that are in the top market are my priority.

But this coming December I'm going to try to save bitcoin somehow, because right now I have a target quantity of altcoins, and once I achieve the numbers I need for other crypto assets, I'll be there in BTC, of course.
Modify message

[JoyMarsha]

In the country where I come from, we don't normally use Bitcoin as a means of payment because there are not many, many shops or private firms that accept such, which makes most of us use Bitcoin mainly as investment assets for profit gains(buying at a low price and selling at a high price).

[taufik123]

Renewing the domain using Bitcoin many times is proof that I am using Bitcoin as a means of payment.
But of course in my own country it is not allowed and the Domain provider is also not from my country.

But for real offline payments, it has never been at all because it is limited by regulations that prohibit it.
Valid payments can only be made in Fiat currency and no other money.

[Gurujebs]

Actually i would have loved to use Bitcoin but in my country it is illegal. But I just think business merchants should start using Bitcoin for purchase of their goods especially those who buy in bulk from outside of their countries.

The same Bitcoin they claim to be illegal is what they also used as their other forms of investment, even the politicians that sponsors such bills of making Bitcoin to be illegal are using the same Bitcoin they are always complaining about but to masses it's not useful for them. I do say that we can see what politicians do behind bars, we will protest massively against them.

Even as Bitcoin seems to be illegal, unless you make it public. You can buy and use Bitcoin as your own form of investment and as long as there are people out there that want to trade them as medium of exchange, I don't think it should stop you.

[PX-Z]

I regularly using bitcoin to pay my server's hosting, this monthly basis. Way back before, i regularly use it to buy steam wallet codes and other gaming gift cards, but now priorities changes lol. I won't let go the benefits of having it as an investments for future plans.

[Tribalchief]

I think it will be very cool to pay for goods with Bitcoin, but unfortunately for me, Bitcoin is
not generally used or accepted by business owners, so I only convert it to cash when need be. And besides, my government don't seem to have a clear rule on ground concerning crypto usage. But I think it might come in handy when I have plans to purchase something online.

[vegasus]

Bitcoin is both, as an investment and also as a currency. It's just that I live in a country where Bitcoin is only legal as an investment or commodity, while it is prohibited if used as a currency, it violates the rules and can be subject to sanctions. That's why so far I only treat Bitcoin as an investment and this has helped me a lot in many ways and fulfilling my needs. But I always pray that one day Bitcoin can really be legal as a currency anywhere globally so that the function and value of Bitcoin will increase again and can be accepted anywhere, this is the main target of Bitcoin. Unfortunately, the government will certainly not let this happen easily.

[MRY]

Bitcoin is both, as an investment and also as a currency. It's just that I live in a country where Bitcoin is only legal as an investment or commodity, while it is prohibited if used as a currency, it violates the rules and can be subject to sanctions. That's why so far I only treat Bitcoin as an investment and this has helped me a lot in many ways and fulfilling my needs. But I always pray that one day Bitcoin can really be legal as a currency anywhere globally so that the function and value of Bitcoin will increase again and can be accepted anywhere, this is the main target of Bitcoin. Unfortunately, the government will certainly not let this happen easily.

It is quite natural that we should hope for global legal tender status for Bitcoin, thinking of it primarily as an instrument of investment and medium of exchange value. Indeed, many countries are starting to embrace Bitcoin as a digital currency but the use of the decentralized currency is still restricted. The data provided by Chainalysis reveal that the overall crypto adoption has increased by more than 880% throughout 2021 and shows that people who expect traditional economy instability are interested in Bitcoin. The main issue is that governmental rules and requirements remain focused on the risk factors which include for example volatility and its influence on the economic environment. Yet, it is interesting to see that numerous countries are gradually opening their door to Bitcoin as an asset also that may create the basis for further progression of Bitcoin as an instrument in years to come.

[joniboini]

Looks like a lot of people use Bitcoin for payments. I'm a bit surprised by the result tbh, I thought people would keep it in their wallet and wait for the next bull run to sell them. Nice to see that, although the sample is limited and from the comments, it shows that the majority don't have the option to do that to begin with.

I think I've posted on different threads that I used Bitcoin to pay for stuff. Not locally though, since there's no way to do that. Mainly for digital services like VPNs, digital game top-ups, etc. I probably spend less than $20 for those, so it's not that much. Don't want to overspend and reduce my holdings at all.

[SmartGold01]

Bitcoin is both, as an investment and also as a currency. It's just that I live in a country where Bitcoin is only legal as an investment or commodity, while it is prohibited if used as a currency, it violates the rules and can be subject to sanctions. That's why so far I only treat Bitcoin as an investment and this has helped me a lot in many ways and fulfilling my needs. But I always pray that one day Bitcoin can really be legal as a currency anywhere globally so that the function and value of Bitcoin will increase again and can be accepted anywhere, this is the main target of Bitcoin. Unfortunately, the government will certainly not let this happen easily.

If not for few country countries such as el salvador which mostly gives way to bitcoin, I don't think other country has done that so far. Bitcoin always on the investment aspect mostly than that of using as a legal tender where people start using as cash for payment except online payments, and even in our country as well we aren't that bitcoin friendly for payment or even in relation with banks. But people are going into investment on heavy aspect and trade on exchange via p2p and doesn't give much priority using within the country.

[LogitechMouse]

Re: Do you use Bitcoin as a currency or just as an investment?

Both. I'm using it as an investment and as a currency.

I'm using Bitcoin as an investment where I'm holding Bitcoins and at the same time altcoins for the long term. I mean we know how profitable Bitcoin can be in the long run. We've seen Bitcoin's price doubled or even tripled in the span of 3-4 years - thing that other asset classes can't be done. On the other hand, I'm also using Bitcoin as a currency, but indirectly. What I mean is that I'm converting the Bitcoins that I'm getting into our local currency and from there, that's what we are using to pay bills, buy things online, etc. I don't know if there's any establishments or merchants near to us that are accepting Bitcoin as a mode of payment, but if there are, I will not be hesitating to use it.

Different people have different usage with Bitcoin. I guess what's important is that we are using it in anyway we wanted to.