How to save your money by using bitcoin: 5 simple tips

With a bitcoin by Icons8 team from Unsplash

Do you remember that old buddy Scrooge from the famous cartoon “Duck Tales”? Right you are! The one who is exceptionally stingy and whose permanent aim is to gain as much as possible. Why do we recall him? 

Once Scrooge said: “Money is not everything in life, but make sure you earn sufficient before thinking such nonsense.” Wise duck!
Well, in recent years, with the development of technologies, we have discovered multiple new methods to earn money. One of them is a cryptocurrency which is gaining more and more popularity. 

Turns out that with digital assets, you can not only make but also save money. Both large institutions like PayPal and small businesses like local coffee shops are on their way of cryptocurrency adoption. Right now, you may hodl bitcoin for life or you can go and spend it in a supermarket or buy a Tesla and save a great deal of money. We gathered for you 5 best tips to save your money by using bitcoin in 2021.

  1. Buy BTC and save it

Most people tend to accumulate and save money. As the recent Bitcoin rise has shown, that’s a good idea! If you buy crypto, it’s not always necessary to trade. Hold it in your wallet and wait until the price goes up.

  1. Try international transactions with Bitcoin

Every day people all over the world send money via bank transfers. The transactions may take 2-5 days to be completed. For those who send money every day, Bitcoin can mean a significant cost reduction. BTC transactions are instantaneous and have fees, no matter what amount you’re sending. Cryptocurrencies are ready today to change the legacy system we use to send money abroad.

  1. Opt for Trading and Savings
  • Trading

Most crypto exchanges offer you to earn money on trading with Limit and Stop orders. The limit order allows setting the price you want to sell/buy for. Choose the amount you predict Bitcoin can achieve and that will be profitable for you. The limit order will be closed after achieving the preset price or better, while the Stop order will fill at the exact price you set. In this way, you are likely to save your money and even augment it.

  • Savings

One more excellent method of saving money with BTC is Savings. Both banks and the crypto industry offer users to open a Savings account. This option is called Lending or Savings and is provided by cryptocurrency exchanges. You can open an unlimited deposit in cryptocurrencies with a fixed price to keep digital assets and earn on fees.

  1. Benefit from reward systems
  • Save up to 33% on Amazon

In the USA, Amazon occupies 50 percent of all online retail sales. Almost everything you need you can buy on Amazon for the best price. The purchases are shipped to your house in a couple of days. 

If you want to save more while shopping on Amazon, there are multiple apps for payments that give you this possibility. If you buy goods via this site, you can pay with BTC and save up to 33%. Apps have daily users – Earners – who want to turn their credits into crypto by fulfilling others amazon orders. After completing these orders, Earners get paid in BTC. They exchange credits for currency accept a little less than the total value, passing on these savings to you. 

You can choose the amount of discount and request it from Earners. If they accept your request, you get your item with a reduction. 

In case you have any questions concerning cryptocurrency, check the info on how to exchange BCH to BTC on CEX.IO.

  • Get cashback while paying in restaurants with BTC

If an item you are looking for is absent on Amazon, you can benefit from nice cashback offers to pay for restaurants, entertainment, etc., with BTC. If you have apps like Ellypay, you receive up to 2% with all your purchases. Cashback returns to you in crypto. The discounts will be available for more and more users in the nearest future. 

  • BTC profit in small businesses 

Every day more and more small businesses accepting BTC as a payment option appear on the market. Without the need for paying a credit card processor to make the transaction easier, many of these businesses are able to offer discounts. You can find the online version of brick-and-mortar stores offering discounts from 3 to 20%. 

  • Bonuses for traveling

There are also apps, allowing you to save money on traveling. One of them is Travala, a crypto-friendly travel company for booking accommodation. 

When you sign up for such an applications program, you receive 5% off for your stays.

  • Bitcoin faucets rewards

Have you heard of Bitcoin faucets? This is a reward system for those who watch ads or answers various surveys. After completing the tasks, you receive BTC fractions.

  1. Pay with Bitcoin for gambling

If you are confident enough, the bitcoin gambling market can be a good source of all kinds of bonuses. As a rule, gambling is the niche where the house always wins. Gambling for Bitcoin is a special case, however, as it is a very niche market that allows you to get huge bonuses or even several rounds of your stake to start with.

Sites like Bitstarz and mBit are major players in this domain, so definitely check them out if you’re interested.

If you use the methods mentioned above, you could save a lot of money on the things you used to buy. 

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