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Interesting Facts About Bitcoin
Bitcoin keeps breaking barriers in the global financial industry as this cryptocurrency reaches heights in value like never before. As of mid-March, the price for 1 Bitcoin is over $50,000, which is higher than ever before. The best part about it is that no indicators show that it will plunge or even go slightly down.
For the past 4 months, Bitcoin has been extremely stable and climbing at a very fast rate. Thousands of new users join the network each day as they are on a quest to make a profit. As this cryptocurrency remains a trending topic all around the world, we decided to join the bandwagon and name a few interesting facts about it. Let's check them out.
Many Celebrities and Brands Use It
Bitcoin’s network includes numerous celebrities and brands. Throughout the years, popular names such as 50 Cent, Snoop Dogg, Floyd Mayweather, Paris Hilton, Gwyneth Paltrow, and Logic have invested in the cryptocurrency and managed to make a profit out of it. Not only that, but several global brands such as Microsoft, AT&T, Wikipedia, Starbucks, and Whole Foods accept it as a payment method.
Recently, even Tesla Motors decided to invest over $1.5 billion in it and helped Bitcoin rise in value in a matter of days. Tesla has announced that they plan on integrating Bitcoin as a payment method for their products and services.
Trading Sites Help You Make a Profit
Trading sites are the platforms that allow you to sell your Bitcoins at a certain price. But, these sites have one additional service which can actually help you maximize your profits. They use AI systems that collect data about Bitcoin from the market.
One of the trading sites that has the most advanced AI system of this type is Bitcoin Fortress. This trading platform takes all the information on Bitcoin and uses it to predict its future fluctuations. In doing so, it gives vital information to the traders and lets them know when is the best time to sell their Bitcoins and maximize their profits.
You Are Extremely Safe When Using It
One of the biggest concerns for users when it comes to making online transactions is safety. As you know, many people have fell victim to online scams. These scams are the biggest disadvantage that came with the rise of the Internet. While people may take all the necessary steps to ensure their safety, sometimes it is not enough.
Bitcoin makes sure that its users are completely safe. It uses a method called cryptology. This technology uses codes to communicate with the server. The codes are impossible to crack and in doing so, the users gain a certain level of anonymity with each transaction that they complete. Online anonymity is a great advantage as it increases the users’ security.
Not only that, but Bitcoin has never been hacked in its history. This is an achievement that not many online businesses/organizations can brag about.
Halving Events Lead to Surges in Prices
So far, there have been a total of 3 halving events in Bitcoin’s history – 2013, 2016, and 2020. The interesting fact about them is that each halving event led to a price surge. After the 2013 halving, Bitcoin peaked at over $700. The 2016 halving event led to the record-breaking value in 2017, and the 2020 halving event led to today’s historical moment.
The Creator is Still Unknown
The last interesting fact about Bitcoin concerns its creator. Satoshi Nakamoto created Bitcoin in 2008 and made the first official transaction when he transferred 10 Bitcoins to a cypherpunk, Hal Finney. What is the big amusement here?
Satoshi Nakamoto is actually a pseudonym. To this day, nobody knows the true identity of the creator of Bitcoin.
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