But where can ordinary users and investors use BTC? Can it be used “in the wild” these days? Well, you certainly can. To demonstrate how far BTC has come and how you can take advantage of it, we’re going to discuss that five best places that accept bitcoin. Let’s dive in.
1. READ
The rise of cryptos spawned various solutions. Aside from commercial and security applications, there are many new investment opportunities. Of course, trading and holding are in the foreground, but the new player in town is yield farming. The market is still young, but there is a clear leader – AQRU.
But before we get into their ventures and accomplishments, what is yield farming anyway? Well, it is a novel and easy way to enter the crypto market. It all starts with decentralized finance (DeFi) platforms. Since they are not controlled by governments (hence decentralized), the controlling parties are free to do as they please.
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The transaction is completed using a smart contract and multiple highly secure protocols.
However, money almost always plays a role. Funding ambitious projects is difficult, mainly because there are so many good ideas in the DeFi business these days. Hence, the developers are asking individual investors to lend them money to support these platforms. The transaction is completed using a smart contract and multiple highly secure protocols.
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In a way, yield farming is just a fancy term for decentralized investing. AQRU was one of the first companies to get the concept right. So how does their business model work?
First you need to sign up and deposit using a bank account, card or crypto. These funds are used by AQRU to trade, borrow and lend to various third parties. Users can earn up to 7% interest on their bitcoin.
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In a way, yield farming is just a fancy term for decentralized investing. AQRU was one of the first companies to get the concept right.
AQRU has become so successful because it found a way to simplify complex concepts. Instead of choosing a wallet, opening one, exchanging funds, choosing an exchange and so on, you can deposit and request a withdrawal.
While it doesn’t look like a traditional bitcoin purchase, this is the most sensible way to handle your BTC. The price moves up and down, so receiving interest is a great way to ride out these swings. AQRU is a project that brought crypto to the average Joe and made them a solid no. 1 in our books.
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2. Dallas Mavericks
Wait, what does the NBA have to do with bitcoin? It all boils down to Mark Cuban owning the Mavs. Widely known as one of the greatest business minds of the last few decades, he has always been at the forefront of any technological or financial revolution.
Ever since bitcoin became a thing, he’s been an avid supporter and investor. Up until a few years ago, everyone laughed at the thought of a digital currency becoming so prominent. But nobody seems to be laughing now that the Mavericks have fully embraced Cuban’s visionary mindset.
Since 2019, Mavs fans can buy merchandise and tickets with BTC. And with the NBA launching its own NFT collection, Top Shot, Mark Cuban seems to have made an impact on the sports world at large.
3.Microsoft
Some may no longer associate Microsoft with futurism and ambitious ideas, but that can’t be true. MS was one of the first and probably the largest companies to adopt Bitcoin early on. As with the Dallas Mavericks, the driving force behind this decision was then-CEO Bill Gates.
Bitcoin is available to all Microsoft account holders. After a simple deposit/transfer process, users can purchase all MS services. Whether you’re buying an Office 365 subscription or a new game on XBOX Live, BTC is the way to go.
Experts also believe that this legendary company played a crucial role in Bitcoin’s early successes. They took over BTC when it was hovering around $350, which pales in comparison to the current price of ~$33,000 per token.
4. Overstock
This reputable online retailer from the USA is far from the first thing you would think of when someone mentions Bitcoin. And for a good reason. They struggled badly in the early 2010s, and investors were disappointed with their somewhat archaic business model.
To climb out of their financial hole, they opted for a non-traditional way of raising money – by accepting Bitcoin. After cleverly noticing BTC’s rising popularity, they began to embrace it in 2014. It gave them the title of the first online retailer to make such a move.
But Overstock went a bit further – they started holding bitcoin and investing in various blockchain-related ventures. It eventually turned out to be a smart move. If you’re thinking of shopping at Overstock, you should also know that every purchase is ethical. The company was named to the 2021 Forbes list of America’s Best Midsize Employers.
Investors, big and small, love companies like this one. They boost the market by holding BTC and accepting payments, but they also set an excellent example for the rest of the business community. Furthermore, it shows that Bitcoin is a valid currency and that a blockchain-centric model can be successful even if the company has previously dabbled in a different niche.
5. New egg
Another early adopter, Newegg, made the right move by accepting Bitcoin. Its members challenged this legendary computer parts retailer to take over the club. And since they’re known for having a great relationship with their customers, Newegg obliges.
To pay for their products with bitcoin, you can choose between QR code, direct wallet access, or wallet website access. Wait a few seconds and you should see Paid/Payment Completed on the screen.
Since they were the first major tech retailer to do so, others followed suit. Still, BTC payments and other smart business decisions made Newegg stable. So it’s only fitting that we do them our honor and add them to our list.
Should You Spend Bitcoin?
There is no blanket answer here. You should spend bitcoin if you want, but it’s not always good. So before you make a BTC purchase, think a little about these factors:
- Crypto security is not the same everywhere. Just because AQRU and Microsoft can handle a large influx of referrals doesn’t mean everyone can. These are reputable companies with plenty of money to spend on security. Your local ecommerce store may not have the same resources, leading to hacks, identity theft, and more. Find out about the merchant’s payment processing and security measures.
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- price fluctuations. Obviously, one might think. However, many BTC investors are still wasting their tokens. Even if you choose one of our top five places to accept bitcoin, don’t jump at the first discount. If you spend during a slump, be prepared for your coins to appreciate many times over. Of course, this leads to buyer regret, which is never a good thing. If you want to spend your BTC, do so at a peak.
- keep a stock. Making a large Bitcoin purchase is tempting, especially if you’ve mined or acquired a large number of tokens. However, this ties in with the previous point – BTC is a volatile commodity and prone to wild and sudden price changes. If the market crashes, be patient. Always remember to set aside at least 30% during peak times. Entire countries are adopting the currency these days, so who knows what might happen.
If you are looking to spend Bitcoin in the short term, always study the market and its underlying factors. Sure, paying with BTC is easier than ever these days, but that doesn’t mean you can’t make mistakes. Contact a reputable retailer, do a background check and move on. Much luck!
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Disclaimer: This article is a paid publication and has no journalistic/editorial credit from Hindustan Times. Hindustan Times does not endorse/endorse the content of the article/advertisement and/or the views expressed herein.
The reader is further cautioned that Crypto products and NFTs are unregulated and can be very risky. There may be no regulatory recourse for losses on such transactions.
Hindustan Times is in no way responsible and/or liable in any way whatsoever for anything contained in the article and/or in relation to the views, opinions, announcements, statements, confirmations, etc. stated/represented therein as well. The decision to read the following is purely a matter of judgment and should be construed as an express promise/guarantee in favor of Hindustan Times to be indemnified from any potential legal action or enforceable claim. The content may be for informational and awareness purposes and does not constitute financial advice.
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