Bitcoin was invented in 2009 but it wasn’t until a couple of years later that people considered it could be used widely and for a variety of different things.
In order to use these machines, it’s necessary to have an existing account and of course, a cryptocurrency wallet to deposit into.
This shows tremendous growth over seven years and signals that this could increase at an even higher pace in the years to come.
Made from leather or nylon, it has traditionally been used to store credit cards, photos, and coins.
Some investors prefer to hold their bitcoin in a savings account that works for them , as well as holding the currency.
Some estimates say there could be as many as 70 million crypto wallets being used on a regular basis along with thousands of bitcoin savings accounts.
You can buy a Burger King or KFC with bitcoin, pay your phone bill, pay a lawyer, shop for groceries, or even buy a house.
While bitcoin replacing fiat currency is some way off, due mainly to concerns over volatility, it is certainly becoming more widely used.