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8 fun facts about cryptocurrency

  1. 1. Number of cryptocurrencies
  2. 2. Number of ATM cryptocurrencies
  3. 3. Number of cryptocurrency exchanges
  4. 4. Top 5 most favorite social media platforms for crypto marketing
  5. 5. Total value locked in Defi
  6. 6. NFTs aren’t currencies
  7. 7. Cryptocurrency can’t be physically banned
  8. 8. Crypto wallets do not store your cryptocurrency

1. Number of cryptocurrencies

According to Coinmarketcap, there are a total of 7,509 cryptocurrencies, of which more than 5,000 were launched in 2020.

2. Number of ATM cryptocurrencies

The number of cryptocurrency ATMs has exceeded 24,000 globally according to the crypto ATM tracking website Coinatmradar. At the time of writing, the total number of crypto ATMS worldwide stands at 24,022 locations. Out of 75 countries with crypto ATMS, the U.S tops the list with the most locations.

3. Number of cryptocurrency exchanges

It is difficult to determine the exact number of exchanges at any one moment since these do not need to register with any centralized authority. We estimated 504 cryptocurrency exchanges as of to date, but this can change at any moment. 259 of these exchanges are tracked on CoinMarketCap, while others are still in their start-up period.

4. Top 5 most favorite social media platforms for crypto marketing

· Twitter (92.8%) · Facebook (73%) · Telegram (67.9%) · Linkedin (42.1%) · Medium (41.2%)

5. Total value locked in Defi

The total value locked in decentralized finance — a measure of the total value of assets committed to the DeFi ecosystem —has marked a new all-time high close to $40 billion. According to DeFi Pulse, the figure hit the $39.79 billion mark on the morning of Feb 10.

6. NFTs aren’t currencies

Even though they are growing in popularity and are considered digital assets, NFTs aren’t cryptocurrencies. They’re tokens that are not used as a medium of exchange. And NFTs can’t be divided or replicated. Today, NFTs are seeing popularity as alternative investments like artwork or collectibles. In fact, that’s how some people see them — digital collectibles and artwork that could potentially grow in value. There are even NFTs, like those offered by NBA TopShot, that operate similarly to digital sports trading cards.

7. Cryptocurrency can’t be physically banned

Many countries have discussed and planned to ban cryptocurrency so that its usage can’t affect the economic condition of a particular country. But, it’s physically impossible to ban cryptocurrency because anyone in this world who desires to get a crypto wallet can get it easily. It is well known that countries can make regulations at any time but the cryptocurrency market itself cannot be banned.

8. Crypto wallets do not store your cryptocurrency

Contrary to popular belief, cryptocurrencies are not stored in crypto wallets. The only things that are stored there are the private and public keys. The funds are recorded on the blockchain and can only be accessed by someone with the correct public and private key. Public keys are like bank account numbers, which are shared with people to receive transfers. Private keys are like your debit card pin code, allowing you to get into the account and make transactions. Without these keys, there is no way any transaction can be carried out.

BHO Network is a blockchain dedicated to DeFi apps and NFTs with unprecedented transaction throughput and security. We aim to be the bridge between real-world assets and the crypto space, bringing in the best of both worlds to solve some of the most pressing problems faced by both crypto and traditional finance.

Get your own cryptocurrency by registering BHO Network IMO Round 2 & 3 at: https://imo.bholdus.com/

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Published on September 01, 2021

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