Interesting Facts About Cryptocurrency

Crypto is limited

Many people think cryptocurrency can be bought endlessly but that’s a myth, as Cryptocurrency are limited. Demand and supply is what keeps crypto going, for example, there is an increase in value due to deficient availability of cryptocurrency.

Who created Bitcoin?

The word “Crypto” is a Greek terminology which means “hidden or private”.

Satoshi Nakamoto, creator of Bitcoin till date stays anonymous as him/they have never been identified or located.

Cryptocurrency cant be banned

Cryptocurrency has been banned from few countries due to its decentralized nature. However despite the ban it is physically impossible to ban cryptocurrency as anyone can get a crypto wallet. The functionality of crypto can be regulated but not stopped.

Never lose your crypto wallet

Whenever you buy or sell cryptocurrency you hold a crypto wallet (digital wallet) that has public and private keys. You can only gain access to your wallet by a private key but if you happen to lose that private key, the chances of getting it back are close to never.

Your digital wallet will disappear into a huge crypto void. There is very little chance of hacking because of the blockchain technology.

Ethereum is next big crypto

Ethereum is the second most popular and valued cryptocurrency after Bitcoin, with a market cap of 547.64 billion. Ethereum was made by cryptocurrency researcher and programmer Vitalik Buterin in 2013, he was just 19 years old at that time.

Ethereum went live in mid-2015 and now it has over a million transaction per day. Even the NFT is sold and bought by Ethereum.

Other Facts

there are over 5000 Cryptocurrency.

First commercial transaction for bitcoin was a pizza.

China accounts for 70% of crypto mining.

Dogecoin started as a joke.

Anyone can create their own crypto coin.

Please note that this memo is for information purposes only and should not be construed as an advice. It does not necessarily cover every aspect of the
topics with which it deals. You should not act upon the contents of this alert without receiving formal advice on your particular circumstances.

If you would like to discuss Accounting, Audit or Tax services, please drop us an email at info@premier-brains.com or call us at + 971 4 3542959.

“ALWAYS DOING THE RIGHT THING”