Is cryptocurrencies a mysterious term and for you? For most of the people, the answer to this question is yes. This is a term about which all the persons are not aware. Before a person starts with investing in any of the platforms, he must gather all the details related to the cryptocurrency. Some of the facts related to the cryptocurrency include:
- One of the famous corporate holders of bitcoins is the Grayscale Bitcoin Trust. He is the person who is known to hold 3.12% of the total supply of cryptocurrencies.
- In May 2010, it was noticed that Laszlo Hanyecz spent almost 10000 bitcoin to get the pizza for the pap john in Florida. This was known to be the first type of payment with the bitcoin regarding the goods. At that time, it was valued at $40. In the current scenario, the value of Bitcoin is about $ 4 Billion.
- There is almost 1.3 million Bitcoin available with the person to get the cryptocurrency exchange.
- Bitcoins are now a legal tender alongside the US Dollar in the EL Salvador in the year 2021.
- There are almost 16531 cryptocurrencies that are listed on CoinMarket Cap.com.
- There are various types of cryptocurrencies that are available in the market.
- In the year 2021, it was believed that $14 billion in cryptocurrencies were stolen by scammers. This amount was $7.8 Billion in the year 2020.
- Some of the most famous crypto currencies of 2021 were the gaming projects. Sandbox is the one that gained 12,763%. This percentage was beaten by the Axie Infinity, which gained 15,132%
- China is the biggest miner of cryptocurrency. Mining of the cryptocurrency is the process of verification of the data before the transaction is placed in the ledger.
- Generally, in some parts of the countries, the profits that a person eans on the cryptocurrencies are taxable in nature.
Is cryptocurrency a good way of financial investment?
The value of crypto currencies keeps on increasing with the passage of time. Therefore, the investment in trading with the cryptocurrency can be considered as the best option as this is the mode in which the third party like the banks are not required for completing the transaction.
Cryptocurrencies are just the electronic mode of doing the payments in the various exchanges. So the only thing that the person will have to be sure of is the exchange that the person is selecting. Some of the factors to be considered include:
- The platform must provide a variety of cryptocurrency option to the buyers to have a wider choice.
- Appoint a representative who is there to clear all the customers' queries.
- The mode of payment offered by the provider must be as per the convenience of the customers.
These are some of the things that will help the person in selecting a reliable platform. Furthermore, if the person takes this decision at the right time, then it will give him the profits in the long run.