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Over the past decade, Bitcoin has grown as a store of value and undergone upgrades to improve its transaction processing capabilities. Various businesses now accept Bitcoin (BTC) as a payment method, both in-person and online.
Despite having higher fees than many other cryptocurrencies, BTC can be helpful for larger transactions — especially considering its impressive security. For a large part of its existence, the Bitcoin community placed a lot of faith in the cryptocurrency becoming a viable alternative to many centralized payment systems existing in the market. However, BTC is currently primarily used as a long-term investment, an asset much like gold or stocks.
The main problem is the number of transactions that the network can process: Bitcoin’s absolute maximum capacity is a mere seven transactions per second.
Most major online retailers still do not accept BTC as a form of payment, but there is a way of buying products from them using digital currency: You can shop with Bitcoin by using gift cards.
Indeed, significant portions of Bitcoin-related transactions are gift card purchases. Gift cards are the simplest way of using the cryptocurrency to buy products from global companies and small local businesses, online and offline.
Latest Activity: Oct 18, 2021
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