Being a crypto investor, you must be wondering if you should spend your Bitcoin. Indeed, in the future, we all envision Bitcoin to be a mainstream currency, one that is accepted across the world, and the one that allows us to do our daily transactions.
But, you might ask yourself if is it worth spending your Bitcoin, in this ongoing economic climate?
“If you are an investor and have Bitcoin stashed away, you might feel a sense of FOMO by just sitting on it. Even today, without a real sense of mainstream adoption, there are hundreds of ways to spend your Bitcoin, but just because these methods exist, it doesn’t mean you actually have to spend it, or does it?”
This discussion has two aspects, in one example, by spending your Bitcoin, you will begin to move the currency around, helping to bring up a positive push towards mainstream crypto adoption and, potential further investment from the newbie investors.
On the flip side, however, if you spend your Bitcoin (BTC) on a product you could have bought with FIAT currency, then Bitcoin jumps upwards, is it a wise move? By spending Bitcoin at press time, could you be making things hard for yourself in the future? Possible!
Well, there’s no exact answer to this question. This depends on the ongoing circumstances. For instance, in case you are a whale, holding a considerable amount of Bitcoin, you’ve nothing to lose by spending it and actually, shifting a few of your bitcoin could help the economy a little. However, if you are a local investor with a few Bitcoin holding, then you may wish to keep hold of it, just because spending it doesn’t have any advantage as a part of it, at least currently.
When the world becomes adaptive and accepts cryptocurrency, then spending will come up with a tonne of cool advantages, from cost saving to quick transactions and even loyalty schemes. However, at the moment, Bitcoin remains a cult figure, and a part of it stuck in the underground. You can spend it if you feel like, but don’t miss out on the surge whenever it comes.