Things about bitcoin that you didn’t know

We also know that the main reason why Bitcoin is used is to make a profit. As of March 2021, Bitcoin is valued at more than $50,000 and it has the power to turn average people into overnight millionaires. That is the reason why more than 5 million people, including celebrities like Logic and Elon Musk, have joined the network.

But, this time, we wanted to take a closer look and name a few interesting things about this cryptocurrency that you probably didn’t know. Let’s check them out.

The first bitcoin transaction was for…. a pizza

We all know that the first trade made with Bitcoin was in early 2009 when the creator transferred 10 Bitcoins to a cypherpunk called hall Finney. But, the first official transaction where Bitcoin was used as a payment method was actually for a pizza. A programmer that purchased around 10,000 Bitcoins used them to purchase 2 pizzas at Papa John’s.

Bitcoin’s creator is still a mystery

Speaking of its creator, it is interesting to mention that the identity of this individual remains a mystery to this day. No one knows who he/she is. All that we know is that this person goes by the pseudonym Satoshi Nakamoto. We don’t even know his age, nationality, or gender. There have been many speculations as time went by, but none of it was confirmed.

AI help you maximize your profits

Trading sites are the platforms that traders visit to sell their Bitcoins and earn money. Reputable platforms such as Immediate Edge are more than just marketplaces. They use advanced AI systems that have one simple task – to help you maximize your profits. How?

They use AI systems that collect all the data about Bitcoin from the market. The data is then analyzed and used to make accurate predictions on Bitcoin’s future fluctuations. Due to the fact that Bitcoin is a highly volatile cryptocurrency, it is almost impossible for traders to determine when is the best time to sell their Bitcoins, but thanks to this service, they do not have to worry about that problem.

The results from the AI analysis are shared with the traders, who gain knowledge on when should they sell Bitcoins and make the highest possible profit. The aforementioned trading site has a huge daily profitability rate which is why it has thousands of registered users from all around the world.

Halving events lead to price surges

Halving events are among the most important processes in the Bitcoin network, which is why you must make sure that you are familiar with them if you want to trade with this cryptocurrency. So far, there have been a total of 3 halving events in history – 2012, 2016, and 2020.

All of these halving events led to price surges approximately a year and a half after they were held. The last halving event was in May 2020, and even though Bitcoin recently broke the $50,000 barrier, experts believe that it will continue to climb and reach its peak around autumn this year.

Global brands accept it as a payment method

As Bitcoin’s network keeps growing, there are a lot of global brands that started accepting Bitcoin as a payment method. Some honourable mentions are Shopify, Overstock, Wikipedia, Microsoft, Starbucks, Expedia, and Home Depot. Thanks to Tesla’s investment, the company stated that they too plan on integrating Bitcoin as an accepted method in the future.