Since 2009, from the very beginning of bitcoin, it has been an interesting topic to the people in the world of cryptocurrency. Back then, it was something new, and people were not brave enough to try out cryptocurrency.
But, now, as the digital world is flourishing and ideas are becoming more advanced, cryptocurrencies are something that everyone wants to try. For more information about trading Bitcoin, you can visit bitgratitude.com.
Today, millions of people are investing in cryptocurrencies daily. Not only bitcoin but different cryptocurrencies are also used in daily life as a means to accomplish transactions just like any other fiat currency.
With time, there is a lot to know and catch up on about cryptocurrencies, and here are some of the facts and figures to know.
1. 9500 types of cryptocurrencies
As per current stats, there are 9500 different cryptocurrencies available. As technology becomes more accessible, creating these digital coins and tokens has become easy. These cryptocurrencies are available in various crypto exchanges and some of them are becoming famous following the oath of bitcoin.
2. Tether reaching a market volume of 109 billion dollars in 2022
Tether is one of the new cryptocurrencies compared to some big names in the market. This is a stablecoin, unlike general crypto coins. Stablecoins are backed by fiat currencies or commodities. This cryptocurrency is backed only 74 percent by the USD and has also suffered strong criticism. But, by February 2022, Tether has proved its worth by reaching a market volume of $109 billion, surpassing Bitcoin.
3. Bitcoin’s first transaction
The very first transaction of Bitcoin was by a programmer in Florida named Laszlo Hanyecz who ordered two pizzas in 2010, May 22nd. He transacted 10,000 BTC worth about 40 dollars at that time for buying two pizzas; back then, one BTC was valued at around half a cent.
4. Cryptocurrency banned in certain countries
Even if cryptocurrency is highly popular in developed and under-developing countries, some have banned their transactions, as one cannot invest or transact in these currencies. Some of these countries are North Macedonia, Russia, Morocco, Bangladesh, Egypt, Iraq, Qatar, Turkey, etc.
5. Richest cryptocurrency owner
As per March 2022 reports, the most prosperous cryptocurrency owner is Changpeng Zhao, a Chinese billionaire. His cryptocurrency worth is around 65 billion dollars, and he is called a Bitcoin tycoon. He is the CEO of Binance.
If one wants to trade Bitcoin, then now is the time. But suppose one is searching for something new to open better investment prospects. Investors can buy and sell digital currencies like digital Yuan on the platform.
6. The top 10 cryptocurrencies hold 88 percent of the market
Cryptocurrencies like Bitcoin, Bitcoin Cash, Ripple, Tether, Ethereum, Binance Coin, Litecoin, Bitcoin SV, Tezos, and EOS are top 10 in terms of their market cap. They also hold 88 percent of the market value of the entire crypto market. Among them, bitcoin holds the maximum.
7. 34,000 BTC ATMs across the globe
As of December 2021, there are around 34,000 ATM or automated teller machines across the globe. These numbers are proliferating due to the increasing demand and their ease of use objective. The top manufacturers of these ATMs are General Bytes and Genesis Coin.
8. NFT s are not currencies
NFTs are non-fungible tokens or assets that cannot be replicated or divided and are not a medium of transactions like currencies. As digital assets, many think they are just like cryptocurrencies, which is pretty far from the truth. They may have a utility, however. Stack’s NFT, a utility NFT project tied to the startup’s unique browser is a great example of this. Upon purchasing you will get lifetime access to the tool as well as a collectible.
9. Vietnam, the biggest crypto user
Vietnam is the largest user of cryptocurrency as of February 2022, but not the USA or some European countries as many people think. The country tops all the charts that indicate the crypto payments done and the number of transactions completed.
10. Crypto Kitties; the first blockchain game
As several thousand types of games are getting developed every year, it is no surprise that someone also developed a cryptocurrency-based game. Crypto Kitties, developed by Axiom Zen in 2017, is the first blockchain-based game. In the game, one will get to create a wholly distinctive and unique cat that acts as an NFT.
11. Topmost Bitcoin mining country
Until early 2021, China was ranked 1st in Bitcoin mining. But, in mid-2021, Bitcoin got banned in the country. But as of now, in 2022, china has again become the rank #2 in Bitcoin mining, next to the USA.
Cryptocurrency is highly volatile; therefore, there is always something new about this industry. Learning new things about the crypto world will help provide a certain sense of knowledge and participation that will help make better decisions in case one decides to invest.