7 Surprising Facts About Crypto
There are myriads of facts about crypto that may leave you intrigued, from the staggering number of digital currencies to the mysteries surrounding their origins. Discover how the crypto realm defies physical bans, while ‘dead coins’ serve as a cautionary tale of this innovative yet volatile landscape.
Surprising Crypto Fun Facts
Beyond the buzz and headlines, lies a world of captivating intricacies and interesting revelations. In this exploration of the cryptoverse, we unveil the 7 surprising facts about crypto.
We delve deep into the heart of blockchain technology and decentralized finance, revealing the lesser-known facets that have shaped the landscape of digital currencies. From astonishing historical anecdotes to paradigm-shifting advancements, join us as we unravel the extraordinary tapestry of the crypto realm, one surprising fact at a time.
1. There are over 22,904 Crypto in Existence
As of March 2023, there are approximately 22,904 cryptocurrencies in circulation. Despite the fact that a minority of these cryptocurrencies have very little fanbase or trading activity, most of them have a large following of supporters and traders. For instance, popular crypto such as Bitcoin and Ethereum have an average trading volume of 13.69B and 5.76B respectively over the past three months. The world of cryptocurrencies is constantly evolving, and the next big digital currency might just be issued tomorrow. Though Bitcoin is commonly regarded as the first cryptocurrency, analysts use a variety of methods to evaluate tokens apart from Bitcoin.
2. The True Identity of the Creator of Bitcoin is Unknown
The developer of the Bitcoin cryptocurrency go by the pseudonym, Satoshi Nakamoto. Even though the name Satoshi Nakamoto is frequently associated with Bitcoin, the real entity that bears the name has never been identified, prompting some to speculate that it is a pseudonym for a person or group of people with distinct backgrounds. Satoshi Nakamoto is known for creating Bitcoin, the world’s first and largest cryptocurrency. Nakamoto was also the person who processed the first Bitcoin blockchain and released the whitepaper for the digital currency.
3. The Richest Crypto Billionaire is the Founder of Binance
Binance’s CEO, Changpeng Zhao, is the founder of the world’s largest cryptocurrency exchange by transaction volume. Zhao, like many other crypto entrepreneurs, is a self-made billionaire. In 1977, he was born in Jiangsu, China. He is said to possess at least 70% of Binance, the world’s top cryptocurrency exchange platform. The corporation facilitated over two-thirds of all trading volume handled by centralised exchanges in 2020, earning a total revenue of more than $16 billion. Zhao is undeniably the richest individual in cryptocurrency, with a net worth of $65 billion.
4. There are About 35,000 Crypto ATMs in the World
A crypto ATM is an internet-connected machine where users may input cash and buy bitcoins or other cryptocurrencies. For instance, Bitcoin ATMs allow users to exchange their bitcoins for fiat currency. Around 35,000 Bitcoin ATMs have already been deployed worldwide in 2023. The United States of America has the most Bitcoin ATMs globally, with more than 90 percent of the total number of Bitcoin ATMs located around the country. With around 1,400 ATMs deployed throughout the continent, Europe comes in second.
5. Cryptocurrency Cannot be Physically Banned
Many experts believe that because cryptocurrencies are essentially computer code, they cannot be prohibited or banned. Sending cryptocurrency from one wallet to the other is similar to transferring music or audio on a USB drive, thus a legislative prohibition will not prevent individuals from sending cryptocurrency to one another. However, the government may always erect obstacles to admission, making trading and transacting in cryptocurrencies problematic for their citizens.
6. “Altcoin” Refers to Any Type of Crypto Other than Bitcoin
Some might think that ‘altcoin’ is a term that refers to newly created cryptocurrencies or cryptocurrencies that are simply not that established. the term “altcoin” is shorthand for “alternative coins” and simply refers to all other cryptocurrencies apart from Bitcoin. Ethereum is by far the most popular out of all the other altcoins out there. Bitcoin accounts for about half of the global crypto market capitalization, while Ethereum accounts for roughly a quarter. Other popular altcoins include XRP, Cardano, and Polkadot.
7. There are Currently About 1729 Dead Crypto Coins
A cryptocurrency that has ceased to exist is referred to as a “dead coin”. A currency might become “dead” for a multitude of reasons, including halted production, having no users or traders, being revealed as a fraud, and so on. Over 90-95 percent of joke coins are bound to die, so be sure they’re not a joke before you invest in them. A meme coin is a cryptocurrency that has been inspired by an online meme or one that has other interesting comical features. Even if it’s a joke coin, make sure it has the support of some top developers before actually buying it if you happen to be interested.
Crypto Facts Serve a Purpose Beyond Amusement
These surprising facts often challenge conventional wisdom and shed light on hidden dynamics. Being aware of them enables crypto investors, traders, and enthusiasts to make more informed decisions. This could involve altering investment strategies, considering new opportunities, or adjusting risk management approaches.
Other than entertainment purposes, crypto facts can also provide valuable insights into market behavior and trends. For instance, learning about the prevalence of specific coins in certain regions or understanding the relationship between crypto prices and macroeconomic events can help investors anticipate market movements.
Not Surprising, but…
While not a surprising revelation, it is also remarkable how frequently the significance of discovering a reliable cryptocurrency exchange is underestimated. In the ever-evolving landscape of digital assets, the pivotal role of a trustworthy exchange in ensuring secure transactions, proper market valuation, and overall investment success cannot be overstated.
If you are interested in investing in cryptocurrency, feel free to try out Flipster Cryptocurrency Exchange. Flipster offers a safe and user-friendly environment for trading crypto, where you can witness firsthand the transformative power of decentralized finance. With more than 180 digital assets available for trading, start venturing into the exciting realm of crypto trading at Flipster today.
Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.