Cryptocurrency

Were You Aware of these Fascinating Cryptocurrency Facts?

Cryptocurrency is the recent financial world revolution. It has turned every traditional thinking upside down and has challenged many traditional ways in the financial sector. In order to capture the essence, we thought why not to draw all the interesting facts about the revolutionary cryptocurrency into one article! So, without wasting any time, let’s start digging!

  1. The most expensive pizza purchase ever made!

The crypto sphere is a volatile place that leads to mind-blowing price fluctuations in no time. This has made many cryptocurrency traders and investors exceptionally rich in a very small period of time, and some, on the other hand, had to face some regretful crypto moments.

‘The most expensive pizza purchase ever made’ story took place back in 2010 on May 22nd. On that day, Laszlo Hanyecz, a Bitcoin user, paid for pizza through Bitcoin. What makes this story exceptional is that he paid 10,000 Bitcoins for two pizzas from Papa John’s pizzas. His sharp hunger and access to Bitcoin to spend made this Hungarian guy, to use the BitcoinTalk forum to look for a user in the U.K. for making the pizza order in lieu of 10 K BTC! Of course, this incident was the talk of the town back then, and now when Bitcoin has become the world’s largest cryptocurrency, this incident has got embedded in the cryptocurrency history!

If we were to estimate how much did Hanyecz paid, then as per the BTC price back in 2010, the cost per pizza comes to be somewhere between $21 up to around $300 per pizza! As per 2011’s BTC prices, the cost of the two pizzas comes to be 10,000 U.S. Dollars. If we were to calculate the price of those two pizzas, it would be around 35 million dollars per pizza! If you are interested in learning the latest price of Bitcoin, you can check out the Crypto Nation app.

The spike in BTC price due to crypto volatility has resulted in priceless lessons. Crypto community celebrates the Bitcoin Pizza day as a mark of the anniversary of this transaction. Upon asking Hanyecz about his take on the entire situation and price translations, he said:

Upon asking Hanyecz

  1. There are over 5000 different cryptocurrencies & more than 1300 Cryptocurrencies On the Market

Crypto sphere is a booming place where new currencies are getting introduced at a rapid pace. Currently, there are more than 5K different cryptocurrencies in the entire world. Are all of these cryptocurrencies as valuable like Bitcoin, well nope! But the point lies exactly in this statement. Whoever spots the bright future of a current new cryptocurrency will end up in being rich in the coming times.

There is a massive race between all the altcoins to be the next big cryptocurrency. They come up with great attractive investment schemes, attractive names just to grab the user’s attention. But, is every altcoin going to make it? It is a topic of concern. But, there are definitely some that will see the light after crossing the race. You can check out Crypto Nation to go through a variety of altcoins that hold a tremendous future for you to attract a lot of profits. Crypto Nation allows the trader to trade with BTC and a variety of the most useful and valuable altcoins.

  1. Extreme Volatility

It is the first thing that one should know about cryptocurrency before learning anything else. Yes, cryptocurrency is exceptionally volatile. Cryptocurrency price is pushed and pulled across several crypto exchanges instead of one centralized exchange, which leads to greater volatility. For instance, As per a report in Jan 2020:

  • The cumulative market capitalization of cryptocurrencies was 237.1 Billion U.S. Dollars.
  • Whereas back in 2018, it was 128.78 Billion U.S. Dollars.
  • Whereas, in 2016, the cumulative market capitalization was less than 18 Billion U.S. Dollars!

Bitcoin, the world’s largest cryptocurrency, has undergone 4 major corrections of at least 20 percent. Cryptocurrencies keep on shifting in unpredictable ways, and they require traders to be on tiptoes all the time and be exceptionally adaptable. In such a scenario, platforms like Crypto Nation App can be of extreme help. Not only its intelligent insights can help you make better trade decisions, but it can also help you with the crypto price predictions. Visit cryptonationapp.com to register and start your journey of crypto trading.

  1. Who basically Owns Bitcoin?

Bitcoin (BTC) is controlled by the crypto users who use Bitcoin. They are spread all across the world. The latest market reports reveal that there are currently 25 million Bitcoin owners. These include many wallet addresses owned by top-notch crypto exchanges to top crypto traders. If we were to look for the person who owns or holds the maximum number of Bitcoins would be Satoshi Nakamoto (the creator of Bitcoin). Reports reveal that he holds at least 1.1 million BTC that makes it more than 6 percent of all the Bitcoins that have been ever created. You, too, can become a Bitcoin owner if you aren’t one yet. Go to Crypto Nation App and check the tremendous amount of effort to make cryptocurrency trading easier than ever before.

The many fascinating facts about the cryptocurrency world:

There are many interesting facts around cryptocurrency’s journey till date. Here are some of them:

  1.  The first appearance in 1983:Cryptocurrency has its roots back in 1983. In that year, an American cryptographer David Chaum received ecash (anonymous cryptographic money). In 1955 he implemented it through Digicash.
  2.  From Virtual to tactile:Bitcoin- a virtual currency was brought into the physical world by the efforts of Mike Caldwell, who is also known as- Casascius. He was the one who made the tactile version of Bitcoin for the first time!
  3.  Crypto debit cards:Cryptocurrency had all the advantages over the traditional fiat currency except the ease with which it could be used as fiat currency can be used. But with crypto debit cards, this issue has also got solved with instant crypto to fiat conversions that can be used anywhere in the world.
  4. Cryptocurrency’sdependency on the blockchain:Blockchain is the lifeline of cryptocurrency. Cryptocurrencies are one of the applications of blockchain. So without blockchain, there would be no cryptocurrencies whatsoever.
  5.  Bitcoin ATMs:The latest market reports suggest that the U.S. A has the maximum number of BTC ATMs. Closely after the U.S.A, Canada, United Kingdom, and Austria follow. Top Crypto ATM operators in the United States are- CoinCloud, Bitcoin Depot, CoinFlip, Rockit Coin, etc.
  6. The lowest of the world’s largest crypto:BTC has been through a lot of ups and downs. In its initial phases (in 2010), it has traded from around 0.0008 to 0.08 U.S. Dollars for a single coin.

Conclusion:

We hope you enjoyed these fascinating facts filled history of cryptocurrency. Bitcoin, the king of the crypto sphere, has not been challenged by any other cryptocurrency by far although there are many other fantastic cryptocurrencies and altcoins out there that you can explore at Crypto Nation app to begin or take your already on-going crypto trade journey to the next level!

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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