You may hear people say “well, what is Bitcoin good for? What can you do with it?” and the answer is — quite a lot, actually.
Following on from the last Britcoiners education piece on how to get Bitcoin, this week we’ve covered the top 3 ways you can use Bitcoin.
Listen below if you’re short for time or want to hear our team talk Bitcoin:
By far the most popular reason why people are “in” Bitcoin is for investment reasons. This has formed a huge part of the retail sector, especially as Bitcoin is almost accessible to anyone.
Alternatively known as a store of wealth, Bitcoin’s price can fluctuate huge percentages in minutes and in its short 12 years alone it’s gone from $0 to $20,000 (2017’s all-time high). …
So, you have cash burning a hole in your pocket and you want to put it in Bitcoin? Great, you’ve come to the right place!
Today’s topic came from a conversation on Britcoiners — our new Bitcoin podcast. You can listen at the link below (the podcast is available on all major platforms).
Before we get into the HOW of getting Bitcoin, here are a few simple reminders.
The Britcoiners team introduced a new segment to the podcast recently— a quick educational chat to help educate listeners on different Bitcoin topics.
Their first topic for discussion was Bitcoin nodes — you can listen to the episode rather than read about if you’d prefer! 🎧
Many people in the Bitcoin industry have different definitions or opinions on nodes, but put simply, a node is a piece of software that you download and run (e.g. Bitcoin Core) on your computer, much like any Windows, Linux or Mac software.
People running nodes are participants in the Bitcoin network and will start off with a full copy of the blockchain, taken from day 0. …
Words by Danny Scott
It’s only been a matter of time before PayPal offered their customers a way to buy Bitcoin. Earlier in the summer, they announced that they were looking at the option, having dropped out of the Libra association a little over a year ago.
The news hasn’t really come as a surprise to the industry. One of PayPal’s competitors in the US, Square, had seen revenue of $306 million in Q1 2020 surpassing its fiat revenue stream by around $100 million.
PayPal is currently only offering this service to the US and by the sounds of the functionality, it’s very basic, meaning that it’s a closed loop — aka, you can’t withdraw your Bitcoin and use it elsewhere, or send your Bitcoin from outside of PayPal into their system. …
In late September we saw Bitcoin hit another all-time high (ATH) record.
“62 days ending above $10,000”
Take a moment and let that sink in. The last time we saw Bitcoin price activity like this was for 61 days from the 1st December 2017 👌
Throughout Q3 there’s been an unmistakeably bullish tension building around Bitcoin and especially with its more recent weeks of little movement (something we don’t find ourselves saying often!).
Bitcoin did finally move above the $11,000 region 👀 recently, leaving the community waiting to see where it goes next.
As always, Bitcoin has been riding the wild news wave over the past 3 months with stories around big business, scams, and more. …
Earlier today, the UK’s Financial Conduct Authority (FCA) issued a ban on the sale of crypto-derivatives and exchange traded notes (ETNs), including products like CFDs, options and futures, for retail customers.
Aiming to protect the consumer market, the new ban which comes into effect on 6 January 2021, will stop the sale, marketing and distribution of such products and help to reduce trading losses.
Our CEO and Co-Founder, Danny, shared his views on the update:
“First we need to make it clear that they’re banning products such as derivatives (CFDs, futures, etc) for retail offering, they’re not banning the sale or use of Bitcoin. For example, companies offering CFDs may offer leverage on a trade, meaning you can buy £1,000 worth of a Bitcoin CFD, but with 5x leverage you’re trading with the equivalent of £5,000. …
In case you missed it, you can now shop for everyday products/services AND earn Bitcoin back on any purchases!
We launched a Bitcoin cashback service earlier this year and are sharing details about the most recent updates to this service — read on to learn more.
As well as searching for companies in our online shopping directory, you can now search for products — over 6 million, in fact 🥳
We’ve been very busy partnering with many exciting retailers including popular brands Currys PC World, MYPROTEIN, Burton, B&Q, and Boots.
Start shopping and earn Bitcoin with these and many more companies today. …
Where do we begin? What an extremely challenging few months! 😬
The CoinCorner team began working from home on March 23, only returning to the office at the end of May. Despite the difficulties of COVID-19, we successfully brought two big projects to life — the new Bitcoin cashback scheme and the auto buy Bitcoin feature!
During this time we enjoyed celebrating the Bitcoin halving and Bitcoin Pizza Day 🍕 with Crypto Twitter from the comfort and safety of our homes.
Here’s a look back on what’s happened in Q2 at CoinCorner…
We were extremely excited to launch our new Bitcoin “cashback” scheme in early June — an easy way to earn Bitcoin while shopping for everyday products and services. …
CoinCorner customers can now buy Bitcoin little and often using the new auto buy Bitcoin feature!
Usually you buy Bitcoin “manually” — aka whenever you think about wanting to buy.
Alternatively to this, auto buying Bitcoin lets you set up daily, weekly or monthly purchases.
These happen “automatically” and help to save time. It’s entirely up to you how frequently you auto buy Bitcoin too!
Follow these steps and then sit back, relax and watch your portfolio grow.
Many newcomers to the Bitcoin industry have concerns about when is the best time to buy.
Auto buying Bitcoin takes the hassle out of following the price movements at all and is very easy to do with as little as £10!
Last week we introduced our new Bitcoin “cashback” service — a way to earn Bitcoin when you buy everyday products with popular online retailers!
CoinCorner customers using the service have 500+ (and growing!) brands to choose from — including favourites like Burton, Twinings, Confused.com, Tails.com, Ninja, Royal Doulton, New Era, and more!
Just like Quidco or TopCashback, the process of earning Bitcoin is simple, but instead of receiving cashback in pounds, you’ll be rewarded in Bitcoin.
If you aren’t a customer with us yet — don’t worry! …