Even we are living in a world where cryptocurrency is a big trend, for many people it is still a mysterious industry. However, as time pass more and more people are getting interested in trying their luck and investing in cryptocurrency. As people do not know many things that digital currency brings, we prepared some interesting facts that you should know.

The total amount of bitcoin is limited

Interesting Facts You Probably Don’t Know About Bitcoin and Cryptocurrency
Source: unsplash.com

The biggest mistake that people think of is that there are an endless amount of cryptocurrencies that they can buy. This is not possible. They are a limited resource just like gold is. Therefore, the cryptocurrencies increase in value as the supply goes down. All the investors are aware of the fact that at some point in the future, the number of bitcoins and other available cryptocurrencies will come to an end.

The mystery of who created bitcoin

People are always asking who is that one person who created the digital currency market. The answer will really amaze you since no one actually knows the answer to it. This is the most surprising detail about the cryptocurrency industry. No one knows whether the person or some organization created it. However, there are some who believe that the bitcoin creator is Satoshi Nakamoto. It is considered that the name is an acronym for leading technology companies: Samsung-Toshiba-Nakamichi-Motorola.

Cryptocurrency can’t be physically banned

Interesting Facts You Probably Don’t Know About Bitcoin and Cryptocurrency
Source: unsplash.com

If you did not know many governments around the globe wanted to ban cryptocurrencies. Unfortunately to them, this is an impossible task. In fact, this is physically impossible to achieve this goal. Nowadays, anyone can get a crypto wallet. Basically, governments can make some regulations that can work in their countries but the market of cryptocurrencies cannot be banned. Some of the countries that have made strict regulations about cryptocurrencies using are Alergia, Cambodia, Bolivia, Educator, Bangladesh, and Nepal.

A wide range of different currencies

Everyone is talking about trading cryptocurrencies nowadays. The main reason for this decision is that there are new currencies popping up on a daily basis. Statistics show that currently there are more than 5, 000 different currencies in the industry. Logically, many of them are not worth much. However, not all coins are useless and there is a big chance that some of them can bring you a huge profit. If you are interested in trading cryptocurrencies, you can check bitcoinstormapp.io

Which country is the biggest cryptocurrency miner?

Interesting Facts You Probably Don’t Know About Bitcoin and Cryptocurrency
Source: unsplash.com

In general, mining cryptocurrencies is the process of verifying transactions before they are even placed on the Blockchain’s ledger. This is the very lucrative part of the business and the country that controls the biggest part of the mining network is believing or not – China. With all this new-found interest comes an increased number of crypto remote jobs too!

Losing Bitcoins

One more very interesting fact about Bitcoin is the one that there are so many lost of them. If you lose your Bitcoin address, which is your private key, you will not only lose your unique identification, but you will completely lose your wallet. Statistics show that approximately 60 percent of all Bitcoin addresses are a ghost. This means that there are so many people around the world that have lost their address and now they do not have access to their wallets.

You May Also Like

Bitcoin ‘supercycle’ sets up Q4 BTC price top as illiquid supply hits all-time high

The “supercycle” concept is a concept that’s been floating around for a…

China’s miner exodus a ‘big net positive for crypto,’ Mike Novogratz says

A study released this month by PwC estimated that the cryptocurrency mining…

5 easy ways crypto investors can make money without needing to trade

There’s nothing worse than seeing so many people lose money and get…

How to Conduct a Crypto Investigation: Best Practices and Tools 2023

Fifty years ago, not many would have believed that soon, the world…