The world of cryptocurrency is drastically different from how it was 10 years ago, and even 6 months ago. Since the creation of Bitcoin in 2009, the crypto market has grown to be a major source for financial information. With over 2,000 cryptocurrencies and counting, there is more than enough to talk about when it comes to crypto.
5 Things You Didn’t Know About Crypto Market
The crypto market can be hard to understand at times. But we are here to help! Here are 5 things you didn’t know about crypto market:
1. There are over 2,000 cryptocurrencies total right now – with over a hundred new ones being introduced every month.
2. Over $3 billion dollars worth of cryptocurrency is exchanged on a daily basis.
3. Over 40% of millennials trust in cryptocurrency more than they do traditional stock markets.
4. It is estimated that by 2020, over 5% of all global transactions will be made with cryptocurrency instead of paper money or credit cards.
5. Cryptocurrencies are highly volatile because they are not regulated by any government or institution.
What you didn’t know about the Crypto market?
Cryptocurrency is a market that is on a rise and it has changed our lives in many different ways. There are also many things that you didn’t know about this market. Here are the top 5 things about this market:
1) It is a new asset class
2) Crypto can be traded 24/7
3) Security is an issue in this market
4) Cryptocurrency and blockchain technology are still in the early stages of development
5) The cryptocurrency market is very volatile
There has been a lot of buzz in the past few years around cryptocurrencies, and there are more questions than answers out there. This article helps to shed light on some of the top 5 things you didn’t know about crypto markets!
1) Crypto Markets Are Young and Volatile:
When it comes to crypto markets, they have been around for less time than any other market in the world. Even though this is a relatively young market, it is still very popular amongst investors all over the world. As with any new investment opportunity, there is always some volatility and risk involved. Since crypto markets are still new, there is a high degree of fluctuation within the market making them even more volatile than other asset classes such as stocks or bonds.
2) The Market Cap Is Small Compared To Other Markets:
The global crypto market cap is only about $150B compared to other asset classes like Stocks which are worth over $69T USD or Gold at $7.8T USD. However, it’s growing at an incredible pace of 18% per year. By 2021, some experts believe that it will reach $1T and by 2030 it may even hit $10T!
The cryptocurrency market is constantly evolving, and so is the industry. There are many things in this space that you may not know about – and that’s okay. In fact, most of us are still learning new things every day. But today, we’re here to tell you 5 interesting facts about the crypto market.
1. Mining cryptocurrencies can be extremely profitable
What comes to mind when you think of mining? Perhaps a group of sweaty men with picks and shovels? Well, in the case of blockchain mining – it’s a very different situation.
The mining process for cryptocurrencies is a complicated one which requires specialized equipment, but it can be extremely profitable as well. The main purpose of mining is to verify transactions recorded on the blockchain ledger, and miners receive rewards for their work in the form of cryptocurrency.
The rewards can be very high in value considering that the entire network is decentralized and there are no other parties involved that are taking a cut off your earnings – except for electricity costs, obviously.
2. China dominates over 50% of the bitcoin trading market
China has been dominating bitcoin trading markets for years now, but it was only recently revealed just how much they dominate them. According to recent statistics from CryptoCompare, China controls
This week, we are going to take a look at the top 5 things happening in the cryptocurrency market right now.
1. The cryptocurrency market has been on a tear over the last two weeks. The rally started with Bitcoin, which hit 13K November 1st and then went on to reach a new record high of 17K yesterday.
2. After Bitcoin broke through the 5k barrier, other cryptocurrencies started rallying as well. Most of them are up more than 100% since mid-October. Ethereum is up 370% from $300 to $1,400 and Ripple is up 500% from 0.20 cents to 1 dollar!
3. Many people have been asking why this rally is happening and when it will end? Nobody knows for sure but there are several theories:
4. The SEC recently allowed for a company to create an ETF (exchange-traded fund) based on Bitcoin and investors are excited about more institutional money coming into crypto market. There are also rumors that Goldman Sachs will start trading cryptocurrencies soon, which would be another big step forward for crypto markets.
5. Japan has also legalized Bitcoin as a payment method and many major retailers there now accept it as payment. This has also helped push crypto prices higher as Japan
The cryptocurrency market has demonstrated a persistently high volatility, which seems to be the main reason why it is so popular with traders. When you take a closer look at the crypto market, you will find out that it is full of hidden gems and opportunities that are available only to the most informed investors. This article will give you an insight into top five lesser known facts about the crypto market.
Keep in mind that this article is not intended to be a financial advice, but rather a tool for making you aware of the crypto market reality.
1. The Bitcoin Dominance Is Decreasing
The Bitcoin dominance has been on decline since 2017. As of April 2018, BTC’s dominance was around 40%. According to CoinMarketCap statistics, there are 1,542 cryptocurrencies listed on the site. This means that there are more than 1,500 altcoins that have different purpose and use case from bitcoin. Some of them are designed to be faster in transferring funds, some have lower transaction fees while others are focused on anonymity and privacy.
2. There Are More Than 200 Cryptocurrencies That Have Zero Value
Despite what many people think, the cryptocurrency market is not just about bitcoin and Ethereum. In fact, there are more than 2,000 cryptocurrencies on the market today
In the world of cryptocurrency, not everyone knows what a token is. By definition, tokens are digital assets that are issued by a company to its investors through an Initial Coin Offering (ICO). In this case, the investor is able to invest in the project without any interference from third-parties.
In a nutshell, when it comes to using tokens, the more you use them, the more you get the benefits. Some companies use their tokens as payment for products and services whereas others use them as utility tokens or currency.
When it comes to creating and issuing new tokens, they are built on an existing blockchain such as Ethereum or NEO. At times they are created on their own blockchain or entirely new platform. For instance, Bitcoin is built on its own blockchain while Ethereum uses its own blockchain to create ERC20 tokens that are used in ICOs.
Tokens can also be compared to shares in public companies. However, unlike shares that give investors dividends in form of profits made by a company, tokens come with other perks and benefits. For instance, if you have invested in an ICO of a company that issues utility tokens and you happen to hold some of those coins; over time you will be able to purchase goods at discounted prices from that company or even exchange