not even an investment thing. a coworker just paid me back for something in bitcoin because he didn't have cash. i put it in a wallet and kind of forgot it existed. started looking into it recently because i felt weird just sitting on it forever.
I always thought that the two actual choices I have are to either sell it on an exchange, which means providing some form of identification as well as waiting for a bank deposit, or to continue holding onto it forever.
what I found out, though, is that there exists something else which I have never heard of before. gift card exchanges, where one can buy a virtual gift card with crypto and receive the code through their email address. no need for exchange accounts and no need for any identification procedures or even waiting periods. last week, I made a purchase using Aceb for my spotify membership, and it honestly didn't take as long as I anticipated.
why this didn't come up anytime I searched for "how to use my bitcoin."
got paid in BTC at work two years ago and only just figured out what to do with it
byu/MOUSETITTY inBitcoin
Posted by MOUSETITTY
3 Comments
A lot of people treat bitcoin like and investment, but really it’s just money. It’s an abstract representation of wealth with no tangible underlying value. Just like dollars. And what do you do with money? Spend it!
Unfortunately, until your local government stops treating buying a bag of chips as a taxable capital gain, there aren’t a lot of people willing to use it as cash, so the support among merchants is pretty thin. Gift cards are a great alternative. I’m a fan of Bitrefill.
If you didn’t miss the cash 2 years ago, why sell now? Just keep it, add to it and see how far it goes.
Borrow against it, never sell your BTC.
(🅱️aylor to the moon)