4 Fun Facts About Cryptocurrency

Who said the discussions surrounding the cryptocurrencies should only be serious like, the volatility of the cryptocurrency, their performance in Q1 2018, their prospective future and so on? Sometimes you should also know how to relax and consider the lighter side of the cryptocurrencies, perhaps, to understand the concept of the cryptocurrencies clearly without being too prejudiced! So, shall we start doing that now? Here you go with these 4 fun facts about the cryptocurrency!

Satoshi, but not the Bitcoin creator

Well, we all know that the creator of the Bitcoin is anonymous Satoshi Nakamoto but, he is not the only Satoshi in the world of Bitcoins! Yes, we know that one of the benefits of the Bitcoins is the divisibility, and Satoshi refers to the smallest possible Bitcoin unit, whose value equals to 0.00000001 bitcoin or one hundred millionth of a Bitcoin! So, next time when somebody asks you to transfer 5 Satoshi, better be prepared!

Losing of your private key means losing of your cryptocurrency treasure

The cryptocurrencies that you own are securely stored in the specific wallet that can be operated only by using your own private keys. Therefore, it is necessary that you keep these keys safely because, if you lose the keys you would lose your entire cryptocurrency treasure, as there is no other way to recover it, unfortunately! Well, looks like enhanced security also comes with a huge price!

There are more than 1300 cryptocurrencies in the market

Although everyone talks about the Bitcoin, it is not the only cryptocurrency as the popularity of the cryptocurrency initiated by the Bitcoins has encouraged more developers to come with many fascinating virtual currencies. The result is, there are more than 1300 cryptocurrencies available in the market today, in which nearly 23 have more than $1 Billion market cap value! While the choices are too many, not everyone could make it to the future and therefore, understand the purpose and the power of the specific cryptocurrency and then invest in them by using the sophisticated automated trading robot!

More than 6 million crypto wallets available

As seen above, the cryptocurrencies are stored in the respective crypto wallet, where the wallet can be specific to the type of cryptocurrency or can accommodate more than one cryptocurrency types that depend according to the provider! It is estimated that there are more than 6 million active crypto wallets in existence today and the value can even go as high as 12 million, impressively!

 

All these only prove that the world of the cryptocurrencies is wide and progressive and therefore, entering with preparations and knowledge can gain anyone the desirous results!