For anyone who has been living under a rock for the past decade: Bitcoin is booming business. Ever since this first cryptocurrency was released into the world by an unknown party in 2009 it has gained more users every day. Therefore, it seems like a wise idea to start digging into the world of Bitcoin and crypto. For many who already own Bitcoins, the main question that arises is: “Should I use my Bitcoin now?”
Bitcoin is the first virtual cryptocurrency that saw the light in 2009. Bitcoin can be used to pay for services or products in an electronic setting if both parties agree about this type of currency. It is very similar to regular dollars, euros and other currencies that you can use for digital payments as well. There are some big differences as well: Bitcoins are decentralized and therefore do not fall under the authority of a government or bank. On top of that, there is a limit to the number of Bitcoins that are available which creates scarcity. That does not happen to Euros, Dollars or any other currencies. Lastly, due to its decentralized nature, Bitcoin does not require it’s users to identify themselves when requesting a money transfer.
It is important to emphasize that we do not know exactly what will happen in the upcoming few months or years. However, we can make some educated predictions based on previous experiences. Upcoming May 2020, a big event in the world of Bitcoin will take place once again: Bitcoin Halving. In this process, we have seen major increases in past Halvings as it creates scarcity without changing the demand. Therefore, the currency will climb in value.
You should also keep in mind that using your Bitcoins could also mean you will win more of them. For example in online casinos, it can be hugely beneficial to use Bitcoins to play any casino games. Nowadays, a lot of online casinos have steered their focus solely toward crypto gambling. To make sure you are playing with a trustworthy casino, check an updated list of crypto casinos before registering.
Should you use your Bitcoin now? Doing so can bring you many benefits, but we would recommend to hang on to some, at least until the halving in May next year. Needless to say, it is impossible for anyone to know exactly what will happen in the next few years, even months. Bitcoin showed some promising climbs in the past but still has to prove they can keep it up. Keep your eyes out for any changes, we are sure we will do the same!
