Bitcoin represents a concept of how a future payment method should look like. It is fully optimized for online use and all transitions are instant, it provides users with a certain level of anonymity, thus increases their security, but most importantly, it allows people to save money by not including the banks in every transaction. In doing so, people void all unnecessary fees. Not only that, but general fees are also much lower.
As this cryptocurrency headlines the news recently due to its surge in value, we decided to name a few interesting facts that you should know about it. Let’s check them out.
The Creator is Unknown
Everybody knows that the creator of Bitcoin is named Satoshi Nakamoto. But the interesting part here is that this name is actually a pseudonym. The real identity of this individual has never been confirmed. We don’t know whether Satoshi is male or female, how old is he or she, or what is the nationality of this person.
Some speculations said that Satoshi is a Japanese male in his mid-40s but all of this is yet to be confirmed.
Trading Sites Are Very Accessible and Helpful
Trading sites are the platforms where traders sell their Bitcoins and make a profit out of them. Not only do these sites act as marketplaces, but they possess AI systems which are able to collect all the data on Bitcoin from the market and use it to predict the future price of Bitcoin with great precision. Bitcoin System is one of the most reputable sites here as it has a high daily profitability rate and thousands of users from all around the world.
Additionally, these sites can be accessed from any place in the world. For example, if you are British, you can access Bitcoin System in the UK, but also from a different country. All you need to have is a registered account.
E-Wallets Are Where You Store Bitcoins
When you mine Bitcoins and manage to earn a certain amount, you need to have a place to store them. Bitcoin wallets are the digital storage facilities for this cryptocurrency. Each user has a special e-wallet and to access it, you must have a private key. The private key must be kept a secret as if it is breached, someone can gain access to your wallet and take all of your assets.
It is As Valuable as Gold
Recently, Bitcoin managed to top $50,000 for the first time in history. This is a massive milestone for two reasons. Firstly, many experts believed that Bitcoin will break the record value from 2017 and that it will reach $20,000, but not a lot of them predicted that it can go as high as $50,000.
Secondly, with the sudden rise, Bitcoin is now as valuable as gold. Throughout our history, gold was considered the most valuable possession in the world, but all of that has now changed.
Halving Events Predict Surges in Value
Bitcoin halving is an event that takes place every 4 years or on every 210,000 mined Bitcoins. During this event, the circulation of Bitcoin is cut in half and it becomes extremely difficult to earn it. The last halving event took place in 2020.
The reason why halving events are important is that they influence the future price and thus, predict surges of value for this cryptocurrency. This has happened three times in Bitcoin’s history.
The first was in 2013, and approximately a year after that, Bitcoin rose in value with the top price reaching over $700. The second halving event took place in 2016 and Bitcoin reached a value of over $19,000 in 2017, and the last one was in May 2020, and Bitcoin is now making history once again.