.đ± DID YOU KNOW ?
Certainly! Here are six fascinating facts about cryptocurrencies you didn't know:
1) The First Bitcoin Transaction for Pizza:
On May 22, 2010, a man in Florida paid 10,000 bitcoins (BTC) for two pizzas. This transaction is recognized as the first commercial use of bitcoin. Back then, 10,000 bitcoins were worth about $40, but today, theyâd be worth over $190 million! đđ°1.
2) Over 12,000 Cryptocurrencies Exist:
As of September 2022, there are more than 12,000 digital currencies out there. While you canât buy them all on an exchange, they do exist, including altcoins like USD Coin (USDC), XRP, and Solana. The top 20 virtual currencies account for about 87% of the crypto market cap1.
3) Limited Supply of Bitcoins:
When the bitcoin network was set up, the limit was fixed at 21 million coins. No more new bitcoins can be created by miners beyond this point. Currently, around 19.15 million bitcoins are in circulation1.
4) Cryptocurrency Mining Rewards:
Miners help complete transactions on the bitcoin blockchain through a process called proof of work. They receive rewards in the form of bitcoin. The reward halves every 210,000 blocks (approximately every four years) as part of the protocol1.
5) Digital Wallet Lost in a Landfill:
A man accidentally threw away his digital wallet containing bitcoins. Itâs now buried in a landfill, and heâs lost access to his crypto fortune forever! đ±
6) Cryptocurrencies Are Decentralized: Unlike traditional currencies, cryptocurrencies operate without central banks or governments. They rely on cryptographic techniques for secure transactions, making them a unique form of digital money
