2021 has just started, but it has already proven to be massive for Bitcoin. This cryptocurrency keeps breaking records and for the first time in history, it is now as valuable as gold. Nothing has ever even come close to gold, which is why this achievement is such a unique milestone.
As millions of people already joined Bitcoin’s network and millions more are yet to join it, we decided to take a look at some interesting things that you should know about this cryptocurrency. They can be quite handy, especially if you are new to this industry and are looking to get educated on every topic connected to Bitcoin. Let’s begin.
Users Gain Anonymity
The first thing that we wanted to mention is that Bitcoin utilizes the technology called cryptography, or cryptology, to secure its users and provide them with safety in the online world. Cryptography is a method in which codes are being used to mask the information and make it inaccessible to unwanted third parties. In doing so, users gain a certain level of anonymity when they trade with Bitcoin.
Mind you, this does not mean that you are completely off the grid; your identity is not completely hidden. But, you are anonymous in the eyes of the public which is a great advantage.
Trading Sites Help You Make Money
Trading sites is where the magic of selling Bitcoins take place. While many would argue that these platforms are only there to connect you with buyers/sellers, that is not the case. They are so much more than that.
These sites use advanced AI systems which can help you maximize your profits. How? Let’s take Bitcoin Prime UK, one of the most reputable trading sites in the world, as an example. The algorithms used at this platform collect all the data about Bitcoin on the market, analyze it, and with that information, they are able to predict the future fluctuations of Bitcoin, thus letting you know what its value is going to be.
This data has massive precision and proof of that is the huge daily profitability rate that the site has. Not only that, but it has thousands of registered users from all around the world. By knowing its future fluctuations, traders can determine when is the best time to sell their Bitcoins, thus maximizing their profits.
What is Bitcoin Halving?
Halving is an event that takes place roughly every 4 years or when approximately 200,000 Bitcoins are mined. During this event, the circulation of Bitcoins is cut in half and it becomes far more difficult to earn them. It is important to keep an eye on these events because as history has shown, shortly after halving events take place, the price of Bitcoin surges massively.
That happened in 2017 and in 2020 when Bitcoin reached record-breaking values. Before spiking in 2017, a halving event took place in late 2016, and before Bitcoin spiked in late-2020, a halving event took place in May the same year.
Advantages over Other Cryptocurrencies
Lastly, we wanted to mention how superior Bitcoin is compared to other cryptocurrencies. It has tons of advantages over FIAT currencies as well, but we decided to see how Bitcoin stays on top of its competition.
For starters, Bitcoin is far more valuable than other cryptocurrencies. IT is now valued at around $50,000, which is a price that no other cryptocurrency can reach. Next, Bitcoin’s network is vast and has far more users than any other cryptocurrency. The big network also makes it far more stable than the rest of the competition.
Lastly, Bitcoin focuses on user security and anonymity far more than other competitors and has greater liquidity and these benefits are fantastic and extremely superior.