The world of cryptocurrencies is constantly changing and evolving. It has grown so much in recent years, attracting the attention of investors, businesses, and entrepreneurs alike.
What started as a theoretical alternative financial system in the late 90s with the creation of Bitcoin only demonstrated its viability as a financial system decades later.
Since then, using crypto and their underlying systems has proven to be amazingly effective at changing the world.
We don’t know where the future of cryptocurrencies is going to take us, but here are some awe-inspiring cryptocurrency facts from the past that might surprise you.
-
Bitcoin Is Worth More Than Gold
As of March 5th, 2018, Bitcoin is worth more than gold. This a shocking cryptocurrency fact that will blow your mind, considering that Bitcoin is a digital currency and gold is a physical commodity.
-
The Limited Supply of Bitcoin
There are only 21 million bitcoins that will ever be mined, making it a deflationary currency unlike fiat currencies – which can be printed in unlimited supply.
Gold, on the other hand, has an unlimited supply. Central banks can print more money to inflate the prices. So, in terms of scarcity, bitcoin is much more scarce than gold.
-
More Portable and Divisible than Gold
Cryptocurrency is more portable and divisible than gold, making it a more convenient option for many people. Gold has been used as a form of currency for centuries, but it is not the only option.
Crypto trading is a digital or virtual currency that uses cryptography for security. It is not regulated by any central authority, making it decentralized.
-
Higher Market Capitalization than Gold
Bitcoin’s total market capitalization is currently around $176 billion. That’s higher than the market cap of gold, which is at $ trillion. This is a shocking fact because it shows how much faith people have in cryptocurrencies.
Bitcoin is still a relatively new asset, and for it to have a higher market cap than gold is a testament to its potential. Gold is a centuries-old asset that has been used as a store of value for millennia.
For Bitcoin to surpass its market cap is a sign that cryptocurrencies are here to stay.
-
Litecoin Is the Most Popular Cryptocurrency
There are many different cryptocurrencies available, but Litecoin is one of the most popular. Here are some shocking facts about Litecoin that will blow your mind:
Litecoin was created in 2011 by Charles Lee, a former Google employee. It is based on the Bitcoin protocol, but with some significant differences. Litecoin is faster and more scalable than Bitcoin, with faster transaction speed and cheaper fees.
-
Dogecoin Is Worth More Than $1
Dogecoin is a cryptocurrency that was created in 2013. Dogecoin is based on the Doge meme. It is the most popular cryptocurrency in terms of trading volume.
Dogecoin has a market capitalization of over $1 billion. It is used as a payment system on the internet. Dogecoin is also accepted as a currency by many online merchants.
-
Ethereum Is the Second Most Popular Cryptocurrency
The market capitalization of the entire cryptocurrency market is over $830 billion as of January 2018. Ethereum is the second most popular cryptocurrency in the world, with a market capitalization of over $70 billion as of January 2018.
Ethereum’s native currency, Ether, is the third largest cryptocurrency by market capitalization, with a market cap of over $21 billion as of January 2018. It has the largest developer community of any cryptocurrency, with over 10,000 developers.
Ethereum’s blockchain is the most widely used in the world, with over 2,500 decentralized applications built on top of it as of January 2018.
It is also the most widely used blockchain platform for initial coin offerings (ICOs), with over $4 billion raised through ICOs on the Ethereum blockchain as of January 2018.
The Ethereum Foundation, the nonprofit organization that supports the development of the Ethereum blockchain facts, is the second most-funded blockchain project in the world, with over $150 million raised as of January 2018.
If you are wondering how you can buy Ethereum Cryptocurrency, the best way is to do it from a Bitcoin ATM, visit bytefederal.com for more info on how you can do this hassle-free!
-
Bitcoin Cash Is the Third Most Popular Cryptocurrency
This may come as a shock to some, as it wasn’t even in the top 10 just a year ago. So what caused this sudden surge in popularity? For one, Bitcoin Cash has much lower fees than Bitcoin.
This is because Bitcoin Cash has a larger block size, so more transactions can fit into each block. This makes Bitcoin Cash much more suitable for everyday use than Bitcoin.
Another reason for Bitcoin Cash’s popularity is its stability. Unlike some other cryptocurrencies that are prone to wild swings in value, Bitcoin Cash has remained relatively stable.
This makes it a more attractive choice for investors who are looking for a cryptocurrency that they can use. So if you’re looking for a cryptocurrency that is fast, cheap, and stable, Bitcoin Cash is worth considering.
-
The Number of Bitcoin ATMs World-Wide
As of July 2019, there are a total of 7,311 Bitcoin ATMs around the world. The United States has the most Bitcoin ATMs with 3,586, followed by Canada with 809 and the United Kingdom with 409. These machines allow users to buy and sell Bitcoin with cash.
-
The Amount of Energy Bitcoin Mining Use
As of November 2019, the Bitcoin network is estimated to consume around 7.1 gigawatts of electricity, which is equivalent to around 0.21% of the world’s total electricity consumption.
This is a significant increase from the estimations of early 2018, which placed the Bitcoin network’s electricity consumption at around 2.55 gigawatts.
The estimated increase in electricity consumption is due to the increase in the number of Bitcoin miners and the increase in the hashing power of Bitcoin mining hardware.
The amount of energy that Bitcoin mining consumes is often debated, as there is no accurate way to measure the total amount of electricity that is used by Bitcoin miners.
However, the estimates are often used to calculate the carbon footprint of Bitcoin, which is estimated to be around 22 million metric tons of carbon dioxide per year.
The amount of energy required to mine one bitcoin is more than the amount of energy required to power 28000 homes in the United States for one day. Bitcoin mining is responsible for the greenhouse gas emissions of 2.26 million cars.
-
The Largest Bitcoin Transaction Ever
Did you know that the largest bitcoin transaction ever was for $1.1 billion? That’s right, one single transaction was worth over a billion dollars.
One of the most shocking cryptocurrency facts is that the largest bitcoin transaction ever was for over $1 billion. The transaction was made on November 4, 2017, and it was for a value of $1,050,000,000.
The first real-world bitcoin transaction was for two pizzas, which were bought for 10,000 BTC. As of July 2018, there are over 17 million bitcoins in circulation with a total value of over $130 billion.
This is a staggering amount of money, and it shows just how much potential cryptocurrency has. Cryptocurrency is still in its early stages, and it is growing at an incredible rate.
-
The People Who Own Bitcoin?
Did you know that the people who own Bitcoin are anonymous? That’s right, there is no way to know who owns Bitcoin unless they choose to reveal themselves.
This anonymity is one of the biggest selling points for Bitcoin and other cryptocurrencies. It also makes it very difficult for governments to regulate or control Bitcoin.
Another shocking fact is that the majority of Bitcoin is held in China. This is because China has more miners than any other country and they also have much cheaper electricity. This means that China has a lot of control over the Bitcoin network.
There are now over 15 million Bitcoin owners. The Winklevoss twin spans Americans who own 1% of all Bitcoin in existence. Also, Tim Draper, an American venture capitalist, owns 4% of Bitcoin. That’s over $1 billion worth of Bitcoin!
And those are just a few examples. There are many more people out there who own large amounts of Bitcoin, and the number is only growing.
With the price of Bitcoin rising, it’s no wonder that more and more people are interested in owning this digital currency.
Learn the Cryptocurrency Facts Starting Today
There are many shocking cryptocurrency facts. These facts about crypto are why the bitcoin supply is finite and will become more valuable over time as demand increases.
Cryptocurrencies are not regulated by any government or financial institution. This means that they are incredibly volatile and can fluctuate wildly in value.
You can purchase fractional units of some cryptocurrencies, like Bitcoin. This means that you don’t need to own an entire coin to invest in it. All of these facts are shocking and mind-blowing, but they are all true!
Did you find this article helpful? Check out the rest of our blogs!
