Some Interesting Facts AboutCryptocurrency

Cryptocurrency has, without a doubt, managed to change the way we look at and handle our money. Decentralization is what sets it apart from the modern-day fiat currency that we are all too familiar with, as there is no such thing as a bank or stock markets which is in control of its characteristics, like the rise and fall in its value, and the like. This can both be an advantage and a disadvantage on the part of investors, and people really lean towards cryptocurrency as a means of gaining income, even if it can be risky at times. Below are some facts about cryptocurrency that’s sure to blow your mind.

They are very volatile

When we say volatile, we’re talking about its value. This is because unlike fiat currency or the money that we’re all too familiar with, cryptocurrency values can nosedive and rise without warrant, and because of this, it really matters that we constantly observe its rise and fall. AOne example of this is the fact that in December 2017, the value of bitcoin in fiat currency was $17,900, and in a mere two months has plummeted to $6,000. While this is a reason for investors to be discouraged, some of them have used this as a reason to hold on to their investments, as you can never really tell when it’s going to rise again.

There’s more to Cryptocurrency than Bitcoin

Given that they’re the pioneers, you can expect that bitcoin will always be tied to the field of cryptocurrency. Unbeknownst to a lot of people, there are as many as 1,500 Cryptocurrencies that one can invest in, and are made for specific industries. Despite the 1,500 cryptocurrencies, 54% of all these are still controlled by Bitcoin, with the 1400+ others sharing the rest of the 46%.

Comments are closed.