Bitcoin Tutorial

Top Uses and Applications of Bitcoin Cryptocurrency

Make Purchases

Bitcoin is accepted by a number of online businesses and companies across different industries. Moreover, it is most likely that more companies will start accepting Bitcoin payments in the future. For now, only a limited list of companies transact in Bitcoins like, Microsoft, Post Oak Motor Cars, and many others.

Online Trading

Known for its price volatility, Bitcoin is appealing for online trades. The online platforms allow users to buy or sell Bitcoins, exchange them for currencies, and other cryptocurrencies. 

This can be a great opportunity to amplify your investing returns. Various apps and platforms can aid you to keep track of your Bitcoin investments as well.

Reduce Corruption

Since Bitcoin is based on Blockchain, it ensures complete transparency and allows real-time tracking of transactions. 

Another reason blockchain can be the best for the government as it can avoid corruption 

because Bitcoins are a decentralized and transparent system. Some examples include- Guardtime and Ericsson for Estonian Government- a data storage center.

Supply Chain

Blockchain plays a significant role in supply chains, especially as it includes a list of diverse entities and processes. In the supply chain, the blockchain enables greater control over the supply chain and fast delivery of goods. 

Another advantage is the visibility of the entire process along with accessible tracking of Bitcoins and products throughout the supply chain.

A great example can be learned from the partnership of corporations like Abu Dhabi National Oil Company with IBM. It uses blockchain in Oil supply management. Blockchain is even used in the fashion industry- it increases transparency in clothes production and allows customers to select brands sustainable and ethical in their work.

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Bitcoin is based on____ .

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