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In the digital world, cryptocurrency is a trending and interesting topic in the 21st century. Sure, you have heard about cryptocurrency from different sources, but still there are some interesting facts that everyone doesn’t know.
Here in this blog post, I have gathered the top 8 interesting facts about cryptocurrency that will clear your thoughts about the crypto world.
8 Interesting Facts About Cryptocurrency
1- Cryptocurrency (BTC) Inventor is Unknown
You will be surprised to hear that the person or organization who invented cryptocurrency and blockchain is still unknown. Amazing!
Many persons and organizations claim to be the inventor of cryptocurrency, but they are not really. An anonymous named “Satoshi Nakamoto” is being called the inventor of BTC, but interestingly that person does not exist ever.
2- There is No Physical Existence at All
Cryptocurrency is a pure digital currency, you cannot see or touch it, but it operates. You can have and store it digitally only. It is working on a Blockchain (A large network of computers across the globe connected through the internet).
3- Non Recoverable Crypto Wallet
The most interesting and risky fact about crypto is that, once you have lost your crypto wallet, it cannot be recovered. A crypto wallet is a digital wallet that is used to store your cryptocurrency.
4- You Can Create Your Cryptocurrency
One of the interesting facts about crypto is that you can create your cryptocurrency. For that, you should have a superpower computer and heavy electricity power. Along with that, you should possess the programming skills or have an expert developers team.
5- Very Volatile and Unpredictable
Cryptocurrency investing is very risky due to its high volatility and unpredictability. You can be a billionaire within a day, and on the other hand, you can be zero from Billionaire in a day, amazing right? Believe it or not, it’s true with cryptocurrency.
6- Fixed Amount of BTC (21 Million)
The amount of Bitcoin (BTC) is fixed at 21 Million only. Anyone will not be able to mine more BTC when its quantity reaches 21 Million. This will create scarcity in the market and the price of BTC will rise gradually.
7- There are Almost 20K Crypto’s in the Market
There are approximately 20,000 (twenty thousand) cryptocurrencies in the market as of August 2024. The first and well-known cryptocurrency in the market is Bitcoin (BTC) which was invented in the year 2008 by a fictitious person named Satoshi Nakamoto.
8- China is the Largest Miner of BTC
China is the largest miner of BTC. It has cheap electricity power and advanced technology. The role of China is pivotal in the mining of BTC and the cryptocurrency ecosystem.
