Countries and Currencies

Cryptocurrency which the experts thought was a fad is now an opportunity for many to invest and make millions looking at the way its growing year on year.

First Cryptocurrency or Digital Currency coined literally was Bitcoin.In January 2009 a programmer by the name Satoshi Nakamoto founded the first Cryptocurrency called Bitcoin based on the Blockchain Technology. No one has seen Sataoshi Nakamoto till date.

Cryptocurrency has come a long way in just 11 years of its existence with more than 5000 Cryptocurrencies in the world.

As of April 2020, there are 5392 cryptocurrencies that traded with a market capitalization of over $200 bn.

Some of the most popular Cryptocurrencies with market cap are Bitcoin (BTC) at $125 bn, Ethereum (ETH) at $19 bn, XRP (XRP) at $ 8 bn , Tether (USDT) at $ 6.3bn and Litecoin (LTC) at $ 2.5 bn. There are many others reaching the $ 2bn dollar market cap fast.

The base of Crypocurrency ‘Blockchain Technology’ is the what makes the new Money system safer than the existing one and thats what makes the investors and companies considering it as the new money system.

Lets go through some interesting and crazy facts about the Cryptocurrency especially Bitcoin :

May 22,2010 is the most memorable day in the Bitcoin History , bigger than the day it was launched. The first ever transaction using a Bitcoin was made by Laszlo Hanyez this day who ended up paying 10,000 BTC thats bitcoins to purchase 2 Papa John’s Pizzas. The cost of these 2 Pizzas were $25.The value of the same today is $103 million. 1 Bicoin is trading at $10,300 (thats 10,000 × $10300= $103,000000). Just out yourself in the situation and imagine what life can show you someday. Basically 2 Pizzas costed him $103 million. Anyways , lets move on as thinking to much about it can lead to dizziness.

Other than Bitcoin, Ethereum founded in 2013 by a Russian-Canadian Researcher and Programmer Vitalik Buterin when he was just 19 years old, not bad at all considering its currently the most valued Crptocurrency after Bitcoin and once can think of investing in it as its bit expensive for a common man to invest in Bitcoin these days.

There are just 21 million Bitcoins that can ever be mined or created. 80% of these 21 miliion are already there in the market which traded on daily basis. Remaining will be mined. It is estimated that the last bitcoin will be mined in the year 2140. China is biggest miner of Bitcoin with a market share of 75%.

Bitcoin is an exceptionally popular Cryptocurrency, It like the US dollar among other regular currencies, ‘Bitcoin’ is talked about in Social Media every 3 seconds

Bitcoin and Cryptocurrency is no longer treated illegal or with suspicion in the world because of the following:

  1. There are more than 300 Cryptocurrency Exchanges across the Globe as against the 60 stock exchanges. Binance is the biggest Cryptocurrency Exchange in the World
  2. The most popular Crypto trading App is Coinbase with over 35 million users that perform buying and selling of various cryptocurrencies on this platform.
  3. In the year 2019, approximately $ 2.9 bn is spent on Blockchain technology
  4. There are more than 4000 Blockchain Start Ups and more than 1000 Blockchain Angle Investors
  5. It took Bitcoin 5 year from 2009 to 2014 to reach a value of $1000 and 1 year to touch the highest valuation of $13000 which is currently $10000-$11000 depending on the trading.

Bitcoin is currently the most valued Cryptocurrency with 1 BTC equal to more than $10,000. A British IT professional named James Howells lost 7500 Bitcoins which he has stored in his laptop and transferred the same to Hard Disk before losing it in the Garbage Bin which ended up in a landfill and never to be found again. His $103 million went to waste literally. Thats the reason of cloud based services that offer locking the Digital Key to Cryptocurrencies.

There are 6 countries that still do not believe in the power and authenticity of the Cryptocurrency and have banned it namely Bolivia, Nepal, Morocco, Kyrgystan, Ecuador and Bangladesh.

There are over 7000 Cryptocurrency ATMs across the Globe which allowed buying and selling of Bitcoins against the physical currency.

some more on Bitcons :

You cannot loose your Bitcoin Wallet which stores the Key to all your Bitcoins

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