In my basement I currently have old electric wall heaters that are on a 60 amp circuit. I'm getting rid of the heaters and want to reuse the circuit and redirect the wiring to all my electrical outlets only in my basement. Knowing that residential electrical outlets carry 120 - 120v, is it safe to use the same 60 amp circuit? What would be the upside /downside by doing it this way if any?
If the circuit is in good shape there is no reason you cannot change out the breakers and turn it into 2 120V 20 or 15 amp circuits. I am assuming of course that the 60A circuit is a 240V circuit and has a neutral and ground. If it does not have this configuration then you could use the circuit as 1 20 or 15 amp circuit, assuming of course that you have a ground connection also.
Another option would be to leave it in place and install a sub panel in the basement and use it to distribute power throughout the basement and leave extra spaces for future work. Once again you must have the correct number of conductors.