How to Save Money With Bitcoins

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Who doesn’t want discounts and freebies? Nowadays, everyone wants to get their money’s worth and getting a little extra will surely be a treat. If you have not yet tried purchasing with bitcoins, you might want to start doing so soon. This digital currency is a great way to save money, and the good news is, a lot of merchants are now accepting bitcoins all over the globe so you can enjoy your perks even when you travel abroad.

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A Brief Background on Bitcoin

Before we dive into the ways you can save using Bitcoin, let’s take a quick look at the history and nature of this relatively new currency. bitcoin was created in 2009 by an unknown person (or group) using the alias “Satoshi Nakamoto”. As a peer-to-peer cryptocurrency, bitcoin is not controlled by any central bank or country. One of the advantages of using bitcoin for purchases is that you get to make transactions without middlemen – meaning, no banks. This makes transactions faster and ever less costly, taking out the transfer fees from banks.

While much of the hype involving bitcoin is mainly due to trading this digital currency, whose value has soared to over £6,000 by May 2018, another benefit of having Bitcoin is enjoying the savings you can get when you use it for your purchases. International payments are easy and cheap because bitcoin is not subject to regulation. Even business owners love bitcoin because there are no credit card fees.

Another great thing about bitcoin is that you can take it anywhere and never lose it as it is stored in a digital wallet. This digital wallet can be likened to a virtual bank account that allows users to send or receive Bitcoin, pay for purchases, or save their money. As long as you have your smartphone, tablet, or computer with you, you have access to your digital wallet.

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Online Merchants That Offer Perks for Bitcoin Purchases

There are several online merchants as well as actual physical stores that accept bitcoin payments, and a lot of these offer attractive perks to encourage customers to pay for their purchases using the cryptocurrency. Amazon.com offers up to 25% savings when you purchase products using bitcoins through Purse.io. To receive the offered discount, you will have to have an account on both Amazon.com and Purse.io, add the item or items you want to purchase on a public wish list, copy the shareable link of this wish list into the search bar on Purse.io, and place an order. Once you have placed your order, you will need to deposit the funds into your Purse bitcoin wallet and confirm your deposit, so your listing will be available for the public to accept.

Kiteroo.com is another online merchant that offers perks to bitcoin paying customers. When you buy any of their gadgets, including mobile phones, televisions, and laptops, you can save as much as 10% on your purchase as long as you pay using bitcoins. This discount offer is also given to international purchases. As bitcoin transactions are easier and less costly for both customers and merchants, with virtually no fees unlike conventional payment methods, online businesses like Kiteroo.com can afford to offer these discounts even when items are to be shipped abroad.

Even gaming sites like Bitcasino.io offer perks to online players. Players can get as much as one million microbitcoins when they register for an account on this casino site that only accepts bitcoin payments – no other mode of payment like cash or credit cards are allowed. And with over 1,300 games to choose from, this site offers a wide variety of casino games for their players. There’s online slots, blackjack, live baccarat, and live dealer games.

How and Where to Buy Bitcoins

One way you can acquire bitcoins is by buying them through marketplaces called bitcoin exchanges which allow people to buy and sell bitcoins using various currencies. Coinbase is one of the leading bitcoin exchanges. You can also get bitcoins through online transfers using mobile apps or your computer. This process is pretty much the same as transferring cash digitally through online banking. Another way to obtain bitcoins is by mining. Here, you have to compete to “mine” bitcoins by using your computer in solving complex mathematical puzzles. This is actually how people originally earned their bitcoins. If you get to successfully solve these puzzles, you will be rewarded bitcoins. At present, winners are awarded approximately 12.5 bitcoins every 10 minutes.

There’s a lot of changes in everyday lives because of technology, and saving money is one of them. Who would have thought that there would come a time when we would be paying for things with something other than cash, cheque, or credit card? This is definitely a time of transition, and from the looks of it, a positive one at that.

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