A bald spot on my beard showed up

I have actually two bald spots on my beard like the one in the photo. What is it and what can be done about it?

You need to see a dermatologist to make the diagnosis about this spot on your beard. Alopecia Areata is the most likely cause. This is a genetic condition and can be treated. It also runs the risk of more spots appearing in other parts of the body like the scalp.  That is why a diagnosis is important.