Get the Most Out of Your Bitcoin As Market Corrections Loom

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Bitcoin
Get the Most Out of Your Bitcoin As Market Corrections Loom

After a year of strong gains in the BTC market investors, in many cases, may be left wondering what to do with those hard earned gains at the end of 2020. There are the conventional ways of doing things such as reinvesting your gains or simply HODLing that BTC for the next market bull run that will inevitably happen some time in the medium term. This article however is not about that, this article is about using your BTC in non conventional ways. After all, BTC enthusiasts are non conventional at the best of times. 

Start Using It In Everyday Life

The world is changing so maybe you should consider how you bank also. As crypto becomes more and more popular there are a wide variety of different digital banking solutions out there that allow you to do all your banking online. Some of these digital banks are based on crypto as a base currency as opposed to others who still insist on you having a fiat currency as your base. 

One of the best digital banking solutions with a crypto base is CoinZoom. CoinZoom is an exchange that offers everything from Visa bank cards that are linked to your crypto holdings to a service that allows you to transfer both fiat and crypto balances peer to peer, you could call it the Venmo for crypto!

CoinZoom is essentially the digital banking alternative for crypto users. Anyone who is anyone in crypto always says that you should be out there spending your crypto balances because the whole point is to start using it as a digital currency. Having a digital bank with your base currencies in crypto allows you to lead the charge in having the world transition over to crypto as the main way to pay. 

Gamble Your Gains For More Gains

If you are more of the selfish type you may want to try to turn those gains into more gains. Why not be greedy, after all they are your gains so you should be able to do whatever you like with them. In some cases you can even implement betting systems that mean you’re winning money 3 times a second for the rest of your life. 

One place you can do this is on the dice game at casinos like Fortunejack. You just have to set the parameters for betting and you can be winning for the rest of your life. To get set up winning just set the dice game to win 89% of the time and then for every loss make the game increase the bet by 1000%. If you make your starting bet low enough for your account you can then work out the math to be a billion to one, or even more, that you will lose more than you win. The cool thing about it is when you set it up like this every loss actually increases how much you win for your next win.

If you’re mathematically inclined head over to a casino and start trying to crack some games. The decimal system in BTC makes it increasingly easy to do so with different betting systems. 

Give It to Charity!

Now that you have made your millions on bitcoin it is probably time to contribute to the global community in some way and pay back some of the money you have made. Helping others is always a rewarding pursuit of time but even more so as it is tax deductible to donate some of your capital gains to a charity of your choosing. Platforms already exist that allow you to donate your bitcoin to worthy causes with perhaps the most popular one being BitGive. The BitGive foundation allows you to choose from one of 25 different non profit partners when donating your BTC so you’re bound to find an organisation that meets your own personal sense of what is important in the world today. 

Some of the most famous charities in the world now accept BTC donations through BitGive such as Save the Children, who are world renowned for helping hungry children in need, and The Water Project, who are also renowned for providing safe drinking water in areas that need it. 

So whatever you feel passionate about, why not give some of your BTC gains to a worthy cause, something that will give others a helping hand in life. 

Why Spend Your Crypto

We saw big gains in 2020 in BTC but the way to see even bigger gains in the years to come is to ensure we are all using crypto the way it was intended to be used and not just speculating on the price of the coins.  The more we get out into the world and use crypto as a payment method the more stores, both online and offline, will start seeing it as a lucrative addition to their everyday trading. So it’s a chicken and egg situation for any BTC HODLer, you have to use your BTC to see massive gains for BTC in the future. 

Dalmas Ngetich

Dalmas is a very active blockchain and cryptocurrency content creator and highly regarded Technical Analyst. He is a Mechanical Engineer by profession and an activeTrader, whose first encounter with Bitcoin was in 2015—and by accident. Ever since, it has been an exciting journey where life-long friendships have been forged, and careers made and strengthened.