Introduction

Bitcoins and cryptocurrencies have been in the news for quite some time now. Bitcoin was introduced in 2009, and since then, it has become one of the most popular currencies in the world. There are many exciting facts about Bitcoins digital money and other cryptocurrencies that you can read in this article.

1. Japan’s Bitcoin acceptance

Among a few of the technologically advanced countries, Japan is one of the places which has given Bitcoins and other cryptocurrencies a legal tender pass by giving them a position in the society which they actually deserve. Thus, it is yet another country on the list to value digital currencies now after El Salvador. In India and Russia, it’s illegal, but in China, only companies operating under certain conditions can accept it for payments.

2. 100,000 Vendors Accept Bitcoin Payments

Bitcoin is an anonymous currency, meaning you don’t have to disclose your identity while using it. Secondly, cryptocurrency is borderless and decentralized, making it possible to send payments across the globe at a meager cost with almost no waiting time involved. The peer-to-peer nature of Bitcoin enables users to make direct transactions with each other without any intermediary, so there’s no need for banks or financial institutions to be involved in these transactions.

3. Bitcoin Doubled In Value Every Three Months

When you think about the growth of the world’s most valuable cryptocurrency, it’s hard not to be impressed by its rapid ascent. It has doubled in value every three months since its inception in 2009. Bitcoin is currently the largest decentralized digital currency, but how did it get there?

Bitcoin was initially created as an alternative payment system that would allow people to make payments directly between themselves without having to go through a bank or institution like PayPal. It was designed so that no single person could control or manipulate bitcoin prices because no centralized authority controls them; instead, they are determined by supply and demand interactions on exchanges around the world. Thus, the scopes of growth in Bitcoin and other crypto fields have grown to some great extent.

4. China used to be an integral part of the system

Unsurprisingly, China has the most significant number of Bitcoin users. Still, you may not know that they account for most Bitcoin transactions. More than 60% of all Bitcoin transactions are made in China, which is more than any other country! The country has become a hotspot for cryptocurrency and blockchain development due to its unique relationship with cryptocurrencies.

In addition to being one of the biggest markets for crypto trading, it also boasts one of the highest volumes of miners (people who process transactions) on Earth. At times, it even surpasses that number by about 50%.

5. Bigger than New Zealand, Hungary, and Qatar

Regarding population, bitcoin is more significant than Hungary, with .8 million people and Qatar, with 2 million people. However, regarding the land area and GDP, bitcoin isn’t as big compared to these countries. The size of New Zealand covers 268 thousand square kilometers, while the size of Hungary covers 93 thousand square kilometers. Both Hungary’s population and GDP are lower compared to that of New Zealand or Qatar.

6. More Than 50% of The Total Bitcoins Have Been Mined

Bitcoin is a cryptocurrency, meaning its digital cash that can be sent from one person to another without using a bank or other financial institution. The saddest part is that if you do not get involved in the system now, then probably, you would not be able to get your hands on these assets as almost 18 million coins out of the 21 millions are already in the market circulation at present.

7. One of Every 5 US$ Millionaires Owns Bitcoins

• One in five US$ millionaires owns a cryptocurrency.
• Only one-sixth of the world’s population has access to the internet.
• There are 2,000 cryptocurrencies in existence today, but only 300 have a market cap of over USD 1 million, and only 6 have a market cap of over USD 10 billion.

8. Weakest Links in the Bitcoin Industry – The Wallet Providers

Wallet providers are a weak link in the bitcoin industry. They’re not regulated and not insured. A wallet can be hacked, shut down, or used for illegal purposes.

Conclusion

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