4 interesting use cases for Bitcoin

Before people understand what it is, they often have trouble seeing what the use cases for Bitcoin could be. Even after they have an idea about what it is, it can still be a bit of a learning curve, trying to see all the ways that Bitcoin changes how we think about money and fiat currency. Because crypto is such a new space, there are a lot of people who still don’t really know how it can be used. 

So, here are four interesting use cases for Bitcoin that you may not have thought of.

4. Get out of fiat

It’s easy to not think about how much value your fiat dollars lose every year when the Federal Reserve tells us that 2% inflation is not only necessary but a good thing. However, when the consumer price index hits 7% and everything you want to buy is noticeably more expensive, the reality of inflation starts to sink in. 

One of the main reasons Bitcoin was created was to completely exit the fiat currency game, which is manipulated by a money cartel that never gave any of us the choice of whether we wanted to be subjected to monetary manipulation. Holding Bitcoin to diversify out of dollars and inflation is probably one of the most popular use cases for Bitcoin.

3. Make international remittances

The example of El Salvador adopting Bitcoin as legal tender is a great showcase of how Bitcoin can be used to send money across borders without the hassle and cost of traditional wire transfers. Especially for things like remittances, which many smaller countries with weak economies rely on. 

When migrants or expats work abroad, being able to send money back home is extremely important. Unfortunately, the banks and currency exchanges have been running a pretty ruthless racket on anyone wanting to send money internationally for as long as we can remember. That ends with borderless, trustless, P2P transactions using Bitcoin. It can completely change the remittance game.

2. Buy a Lambo

Yes, we want to help the world. We want to bank the unbanked. We want to free everyone from the iron fist of government monopolies on currency. 

But—if we’re being honest—who of us wouldn’t also want that Lambo? Am I right? 

It’s really a yes/and situation when it comes to changing the world… but also flexing on your friends at the same time. There are dealerships these days that accept Bitcoin and, if you were in the game back in 2011, paying $115 for bitcoins that can now purchase that Lambo is just icing on the cake.

1. Use it as a world reserve currency

Even more crazy and outrageous than using Bitcoin to buy a Lambo is—using it as the world reserve currency. Of course, it has not happened yet, and no one can guarantee that it will, but more and more people are seeing it as a possibility. Today, with the USD as the world’s reserve currency and the Fed trying desperately to get inflation under control without crashing the economy, people are as skeptical of central monetary power as they were back in 2008 during the Great Financial Crisis. 

If trust in governments and central banks drops drastically enough, perhaps Bitcoin could step in to stabilize the global monetary system? Imagine how badly you’d wish you were hodling then!

There are so many use cases for Bitcoin

There are all kinds of use cases for Bitcoin that I didn’t list here. 

Plus, outside of being the grandpa of all cryptocurrency, there are a million more use cases for other cryptocurrencies and tokens in DeFi, GameFi, and the metaverse. Just more than a decade in, we’re only scratching the surface of how Bitcoin started a ball rolling down a hill that is changing the world right before our eyes.