UK is certainly transforming its current landscape in order to become the prime Bitcoin hub of the world after securing several developments and updates in its cryptocurrency department.
Other than providing a sounder district for cryptocurrency businesses to thrive in, several prominent entities such as the government of UK show great support for the Bitcoin advocacy in the country.
Having these factors at hand only goes to show that Bitcoin is now steadily settling down to its ‘fertile crescent’.
Since the UK boasts extreme Bitcoin-friendliness compared to other regions, Bitcoin users, even beginners, are not limited with their Bitcoin spending options.
These selections are not only impressive in numbers, but are also astounding because of its diversity. In fact, UK houses various mainstream hubs and businesses that are now openly accepting Bitcoin for payments.
Exchanges as Bitcoin users’ ‘convenience stores’
Due to its tremendous support for financial innovation, UK is now home to several Bitcoin and cryptocurrency exchanges. These exchanges contribute to the further growth of Bitcoin in the region because of its appeal to the common audience base.
It can be argued that the most common conduit wherein users can spend their Bitcoin is through these Bitcoin exchanges. Using cryptocurrency on these platforms is the most recommended starting point for users, especially for cryptocurrency beginners, because of its simplicity and popularity.
In fact, these online exchanges’ features are greatly similar to the orthodox landscape’s convenience stores like 7-Eleven and Tesco Express. Just like these stores, Bitcoin exchanges offer a variety of Bitcoin-related usage options like cryptocurrency conversions, Bitcoin buy-and-sell services, and Bitcoin wallets, which can be easily acquired by users.
However, Bitcoin exchanges hold a specific downside to its services. These services oftentimes come with higher fees, even more expensive than those charged by Bitcoin exchanges operating in US. Likewise, these services tend to be rather slow, which is attributed to the issues related to banking institutions.
Fortunately, more Bitcoin service providers now cater to European customers and Cubits is among those that prove to be a popular and reliable choice.
Buy-and-sell through Bitcoin peers
Other than spending and acquiring Bitcoin via exchanges, another convenient Bitcoin acquisition method that is practiced in UK is buying and selling Bitcoin through other cryptocurrency users.
The concept of this method is virtually similar to the former. The only differences are that buying and selling Bitcoin from fellow cryptocurrency enthusiasts yield a more sociable and interactive touch to the transaction and charges and fees are negotiable as opposed to Bitcoin purchases via exchanges. Users who aim to widen their Bitcoin social network can benefit from this method.
Using Bitcoin in cryptocurrency-based gambling
Even before Bitcoin entered the market, the UK already sports a laid-back nature when it comes to online businesses, and this includes online gambling. Given that the region is open to these types of businesses only proves that it will be as open to Bitcoin casinos.
Cryptocurrency users who wish to utilize their bitcoins in a more exciting fashion can certainly try the various best Bitcoin casinos in UK. Aspiring Bitcoin gamblers who wish to experience a revolutionary way of playing casinos can try their luck on SatoshiBet, one of Europe’s popular Bitcoin casinos.
On the other hand, prediction junkies can enthrall themselves with the events that are posted on the Bitcoin prediction market BetMoose.
Nonetheless, Bitcoin users in the UK are provided with seemingly infinite options to lavish their cryptocurrency usage, especially on Bitcoin slots and other casino games. Considering the encouraging relationship between the region and cryptocurrency, it is safe to say that these current options will soon widen into a global scale.