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By this time, everyone knows what the crypto market is and how it works, as the market has captured the attention of all individuals and traders with its performance in just a decade after its invention in the year of 2009. One can earn a considerable profit by spending a few hours in front of the laptop in this crypto market. According to a report, it has been seen that people who have invested in the crypto market have earned more than 300% profit in a single year. A recent report also claims that many investors are shifting from the traditional stock market to the crypto market as the scope is increasing widely. But, according to professionals, one problem every individual faces is losing more money than they earn. This happens because they need proper knowledge to enter the market and perform trade. One can secure profit by trading through the official BitIQ site.
For the one who doesn’t know, there are various factors to consider making a profit. One mistake everyone makes is they start investing money without thinking about anything. The market is not that easy, and one needs to gather a lot of information, or one will keep losing money. Today in this article, we are going to discuss various facts that many people are not aware of.
1. Bitcoin's Creator Is Unknown:
This is a very common fact, but many people don't know that the creator of Bitcoin is anonymous. In addition, most people claim that Satoshi Nakamoto is the creator, but he is not. The creator's name has come from various popular brands Samsung- Toshiba- Nakamichi-Motorola.
Another interesting fact about Bitcoin is that the price of this currency will break all the bars in the future as the number of coins is limited. So it doesn't matter whether you are a new investor; if you can afford to buy Bitcoin, then you should proceed further with this decision as it will be beneficial in the long run.
2. No One Can Ban Crypto:
This fact is that the users need to follow the country's safety protocols, but in reality, one can't put a ban. The statement might amaze you as you may think that various countries have banned the usage of cryptocurrencies. But in reality, it is not possible to ban cryptocurrency physically as it is not possible. Anyone can create a crypto account.
3. Different Types of Currencies:
For the one who does not know, various types of currencies are available in the market, and one can choose as per their need and requirement. Experts suggest that one should always go for a popular coin to avoid security-related issues. If you plan to invest money in various coins for long-term investment, you can go through the listed coins on an exchange.
4. China was the biggest Crypto Miner:
As the USA has the highest number of crypto users, the primary market is captured by the USA. But in reality, the biggest miner of the crypto market is China, and it is also said that China earns thousands of dollars from this market.
Myths of Cryptocurrency
1. Easy To Hack:
Many people think one can easily hack the crypto market and steal money. But in reality, it is impossible as the technology under which the system works is so protected that one can't hack it easily. If this were possible, the hackers would have hacked the crypto exchanges and taken billions of dollars.
2. Not Accepted As a Payment Method:
As various countries ban currency and its usage, people think that the crypto market could be more valuable. Still, in reality, various companies accept crypto as a payment method. For those who do not know, there are various countries where one can even withdraw money from a crypto debit card and purchase anything from it. According to a report, the world is going to take cryptocurrency as a worldwide payment network in the future.
Conclusion
There are various facts about cryptocurrency that we need to be aware of, and it is also claimed that many individuals are not entering the markets because of myths. If you are new to this field, go through the facts and myths to gather relevant information about the market. Prefer investing a small part of your capital in understanding how the market works; once you master the market, you can put all your capital.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.