Is Bitcoin a real currency? Can you use it to buy something? I know there are a lot of questions coming from both investors and non-investors. If you are interested to know what are the things you can buy from Bitcoin, I will share them with you in this blog. Whether you have invested in this cryptocurrency already or will invest in the future, this will definitely help you answer some of your thoughts about cryptocurrencies.
Bitcoin is already being accepted as payment. If you don’t have it yet, this is the best time to consider investing your money in the possible money of the future.
Just recently, Tesla’s CEO, Elon Musk, announced that anyone can now buy a Tesla car using a Bitcoin. You can use Bitcoin to own one of the most popular electrical vehicles in the world. This just means that you can now use Bitcoin as real money when having your transactions with Tesla. So, can you buy something using Bitcoin? YES! And what you can buy is a good car! Bitcoin is indeed a good investment if you can use it to buy luxuries. Imagine buying a Bitcoin at around $3k and using it to buy a car no at $55k+. To have a Bitcoin Wallet click here.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
There are some brokers that accept Bitcoin as a deposit. If you own a Bitcoin and you want to trade forex or indices, you can use Bitcoin to fund your account. An example of a broker is FBS. I’ve discovered that this broker is accepting Bitcoin to fund your account. Once you use your Bitcoin wallet, your Bitcoin will be converted to the main currency of your trading account. If you’ve bought Bitcoin at a discounted price and it goes up, you will have more funds to put in your trading account. To have a Bitcoin Wallet click here.
I know a couple of businesses are already accepting Bitcoin as a means of payment. Although you can’t buy everything online, you can try to look for online stores that accept Bitcoin. Unfortunately, big companies like Amazon or Apple don’t accept Bitcoin yet. If you are planning to use your Bitcoin to pay, you might want to convert it first before you buy what you need. Also, don’t forget to use your Bitcoin to invest. If brokers accept Bitcoin as a means of deposit, don’t waste this opportunity.
Since Bitcoin is being traded 24/7, there’s a risk that its price might go down in minutes. If you buy Bitcoin at a high price, you will lose some of your money and the value of the Bitcoin you are holding will be lower. Its value will actually depend on the money you invested and the price of Bitcoin when you use it to buy something. Any difference will either be your loss or gain. It’s important to know how to trade or invest in Bitcoin well so you can end up in a win-win situation.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.