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Uses of Bitcoin

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  • Uses of Bitcoin

    ou may know what bitcoin is and how to get it, but still be left wondering why you should care. There are quite a few unique properties of the bitcoin protocol which act as appealing reasons to use this cryptocurrency over other traditional currencies. In this section, we’ll look at some of the common reasons people use bitcoin and some of the most common uses of bitcoin overall.
    Bitcoin Use 1: Spending Money Privately

    One of the biggest pros of bitcoin is its pseudonymous quality (members are identified by the public keys rather than their “real world” identities). For many people, this affords a desired level of privacy that traditional digital payment systems do not. Some examples of situations in which this quality really comes into play include situations in which people are fleeing from abusive partners, desiring controversial health procedures, or operating outside the confines of oppressive governments.

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