Customized watchlists with full streaming quotes from leading exchanges, such as NASDAQ, NYSE, AMEX, OTC Markets Small-Cap, LSE and more.
Bitcoin is everywhere nowadays as it is dominating the market and is currently the most popular investment. Bitcoin has attracted a massive number of people from different sectors and has proven to be better than fiat currency for a myriad of reasons. If you are also crazy about bitcoin and want to invest in it, you can visit BitQT and also learn about these surprising bitcoin facts that you never knew.
Scarce supply
Bitcoin is the most valuable cryptocurrency, and its value is increasing at a rapid pace. Most people who don’t know about cryptocurrencies are amazed at the massive growth shown by bitcoins. There are several reasons behind the high price of bitcoins, but one of the primary reasons is its limited supply. Before you start using bitcoins, you must know that bitcoin has a limited supply, leading to its scarcity in the market. Bitcoins are created through bitcoin mining, and there is a fixed number of bitcoins that can be mined; 21 million.
In simple words, once 21 million bitcoins get mined in total, no new bitcoin will be issued in the market, and according to the recent reports, only over 2 million bitcoins are left to be mined. So, the supply of bitcoin is decreasing, but the demand for them is increasing. So, with fixed supply and increasing demand, the price of bitcoin is also inclining rapidly.
Bitcoin has two meanings
When we hear the word bitcoin, most people start thinking about the cryptocurrency that is used to make transactions and investments. But you will be surprised to know that there are two ‘bitcoin’ terms; one is with the uppercase ‘B’ and the other one with the lowercase ‘b.’ Both have different meanings and are used for varying purposes. The one with the uppercase ‘B’ is used for the popular cryptocurrency that is a popular payment method all over the world. On the other hand, the bitcoin with lowercase refers to the bitcoin technology, also known as the blockchain. It is a public ledger in which all bitcoin transactions are stored, and it also enables safe and secure online transactions in a flash of seconds.
High anonymity
Bitcoin is popular for a variety of reasons, but one of the unique features that make it stand out in the world of cryptocurrency is the anonymity it offers. Bitcoin has gained a lot of attention due to the anonymity it offers to users. Bitcoin is an independent cryptocurrency, and it allows you to make transactions without revealing any personal or financial details. You can stay completely anonymous and make hidden transactions with bitcoins which is a feature that you don’t usually get to see with other cryptocurrencies. Bitcoin is a high transparency cryptocurrency but at the same time allows the users to maintain utmost anonymity while making transactions.
All the bitcoin transactions are recorded in the blockchain ledger, which is transparent, but no personal details are recorded with the transactions, which offers good anonymity. Blockchain allows bitcoin users to make secure transactions over the network without revealing their real identity.
No access without private access
Bitcoin is a virtual currency, and it is stored in special lockers known as digital bitcoin wallets. These wallets are highly secure and can only be accessed through private keys. Each bitcoin wallet has a unique private key, and you cannot access your funds or make a transaction if you don’t have the private keys. So, you must store the private keys safely because if you lose them, you will not be able to access your wallet any longer. The worst part is that if you lose the private keys, there is no way to recover them. In other words, after losing the private keys, you will be locked out of your bitcoin wallet forever and will lose all the crypto assets stored in it permanently.
The pizza day
You may not know that the first purchase ever made with bitcoin was of a pizza. It happened on 22nd May when a bitcoin user purchased a pizza for a whopping 10000 bitcoin. Now, the day is celebrated as Bitcoin Pizza Day, as it was the first time that bitcoin was used to make a purchase.
