Bitcoin, the first and the most well known cryptocurrency, provides us with a concept of how the future of money could look like. Bitcoin and all the other cryptocurrencies exist digitally and all crypto transactions take place online. The transactions are not only instant but also provide the users with a certain degree of anonymity.
It is important to note that Bitcoin, just like most other cryptocurrencies, is decentralized. This means that it is not under the control of any government or bank. There is no need to pay for any unnecessary fees and not only that, but general fees are also much lower.
Many people see these advantages and are looking to enter the crypto market as either an investor or a trader. Bitcoin’s price value is almost always going up or down and that provides the investors and traders with many opportunities to make money. They are looking to make profits by buying when the price is low and then later selling these digital assets when the price goes higher. Making profits can be made easier with an easy to use and a helpful trading platform. If you are looking to start trading, we would suggest that you trade with the Bitcoin Code app. As Bitcoin is getting more and more popular, we decided to talk about a few interesting facts that every Bitcoin trader should know about.
The inventor of Bitcoin is unknown
You might have heard that the inventor of Bitcoin is known as Satoshi Nakamoto. But what many people do not realise, and that is what’s so interesting here, is that this name is actually a pseudonym. The true identity of the inventor (it could be a group of inventors) has not been confirmed ever since Bitcoin came into existence.
No one can confirm whether Satoshi Nakamoto is a female or a male, how old is she or he, or where this person is from. There are some rumours that the inventor is a Japanese male around the age of forty, but all of this is not confirmed yet.
Trading platforms can be very helpful
Trading platforms or apps are where Bitcoin traders and investors buy and sell these digital assets with the hope to make profits. These platforms also let the users take advantage of many different tools that they offer. Such tools can make the process of trading easier for you.
Most of these platforms use artificial intelligence that gathers all the relevant data from the crypto market in order to predict market movements and trends. Traders can make better informed trading decisions with the help of the right trading platform.
Bitcoins are stored in digital wallets
When you purchase the cryptocurrency or manage to earn a certain amount through Bitcoin mining, you will need a digital wallet to store them. As we have mentioned above, Bitcoin only exists in digital form and digital wallets act like storage facilities for the cryptocurrency. Each user Bitcoin trader will need a digital wallet and to access it, they will have a private access key. It is important to keep the private access key secret because if someone else can access your digital wallet they can also access your digital assets.
Bitcoin could replace gold
For the first time in history, the price value of one Bitcoin has reached $50,000. This is a huge milestone for the cryptocurrency. Many people thought Bitcoin is a bubble that will soon burst. The massive growth of cryptocurrency shows that Bitcoin is here to stay.
It is worth noting that with the sudden rise, Bitcoin has now become as valuable as gold. For a very long time, everyone considered gold to be the most valuable possession in the world, but all of that could now change.
Bitcoin halving surges price of Bitcoin
Bitcoin halving is an event that takes place when 210,000 Bitcoin have been mined, usually taking place every 4 years. This event of Bitcoin halving means that the amount of Bitcoin that the miners will receive as a reward will be cut in half. This is not a good news for Bitcoin miners.
However, Bitcoin halving events can play a very important role as they influence the price value of the cryptocurrency. This has happened 3 times in Bitcoin’s history. Bitcoin is known for its volatile nature and such an event can have a huge impact on it’s price.
What we have noticed is that everytime there is a halving event, the price of Bitcoin rises. The price of Bitcoin currently sits around $50,000 and many experts believe it could go a lot higher than that. Many people believe that Bitcoin is the future of money.