Thread by @zignaly

(1/12) ⚡️#Bitcoin 🪙 represents a possible alternative to the current centralized fiat money system.

⚡️What are the uses of Bitcoin? 🤔
🧵
Learn More 👇
medium.com/zignaly/llts04…

(2/12) Neither the #Bitcoin network nor the cryptocurrencies are yet fully-regulated, and are widely utilized for everyday purchases. 😲

(3/12) Bitcoin’s worth may be compared to rare metals, at least in theory. 💎🧈 Both are scarce and find only limited application. The #BlockchainTechnology that Bitcoin is based on has a variety of potential applications in the banking and finance sectors. 🦾

(4/12) ⚡️Uses of BTC ⚡️
Asset Tokenization 💥:
As a result of the rise of #cryptocurrency, it is now feasible to “tokenize” previously inaccessible physical goods. #Tokens can represent everything of value, from copyrights to property investment to artwork to commodities. 🎟✅

(5/12) Gaming 🕹:
Cryptocurrencies, in the type of non-fungible tokens (#NFTs), are already impacting the gaming sector. New Game Tokens (NFTs) are virtual tokens used to represent a specific in-game digital asset. 🎮🕹

(6/12) Online Purchases:
In addition to being a versatile payment method, #Bitcoin can purchase nearly anything online, such as coffee and airline tickets. Going ahead, there may be no need to deal with intermediaries 🛍🛒

(7/12) Store Bitcoin and Watch It Grow:
Unlike traditional financial markets, Bitcoin is decentralized. As a result, the value of #Bitcoin is immune to any boundaries and works based on demand & supply. 📈📊

(8/12) Send Money Quickly and Cheaply:
Traditional means, such as #financial transactions, can be time-consuming and costly when sending money to a foreign recipient. #Bitcoin provides a quicker and less expensive option. 📤💵

(9/12) Anonymity:
Bitcoin’s #privacy is arguably one of its most attractive features. #Bitcoin purchases and sales are not linked to any specific person, implying that you may shop online without worrying about anyone finding out who you are. 🕵️👨🏻‍💻

(10/12) No Chargebacks:
In #Bitcoin ₿, all transactions are irrevocable; once they have been transmitted, retraction is merely impossible. Retailers are prevented from receiving erroneous chargebacks. 🙌

(11/12) Decentralized:
Bitcoin is independent of any central authority or #financial organization. One positive interpretation of this is that the value of #Bitcoin is no longer subject to manipulation by any single party. 👨‍👨‍👦‍👦🌍

(12/12) Bitcoin’s popularity spread like fire in the forest in the last few years. More and more use cases are coming to light as individuals and #businesses adopt Bitcoin and its mining. Many online and offline merchants are now welcoming #bitcoin as a transaction. ₿⛏