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8 Facts About Cryptocurrency That’ll Surprise You

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8 Facts About Cryptocurrency That'll Surprise You

Over 3.2% of Canadians now own Bitcoin. It has grown from a niche topic at dinner parties to a serious option for investing your hard-earned cash. 

But before you get involved with crypto, you must understand some of the facts about these currencies and the crypto technology that underpins it all. 

As a starting point, here are eight fascinating facts about cryptocurrency.  

1. Cryptocurrency Started 14 Years Ago

In 2008 as a reaction to the banking crash of that year, a mystery person named Satoshi Nakamoto launched the first cryptocurrency. The first currency is still the most famous one: Bitcoin. 

2. There Are Over 10,000 Cryptocurrencies on the Market

Most people, when pressed, can probably and a handful of cryptocurrencies. But did you know that over 10,000 types of cryptocurrency are on the market?

The biggest lesson from this is to do your research when investing if you aren’t familiar with the name of the cryptocurrency. 

3. There Are Now Cryptocurrency ATMs

Did you know that there are thousands of special ATMs for cryptocurrencies?

However, unlike a normal ATM where you withdraw cash, these ATMs allow you to buy Bitcoins directly using your bank debit card. Or you can use a protocol such as The Graph. Here’s more information on how to buy Graph

4. A Cryptocurrency Might Be a Unicorn

No, we aren’t referring to those magical horse-like creatures with horns.

A unicorn is a financial term for private startups valued at over $1 billion. Some cryptocurrencies have reached this magic number, so you might hear them referred to as unicorns. 

5. Vietnam Uses Crypto More Than Any Other Country

It might surprise you that the US and China don’t rank highest in cryptocurrency transactions.

That award goes to Vietnam. The Vietnamese have one of the most positive attitudes to crypto. Predominantly, the younger generation invests heavily in new crypto markets. 

6. There Are Only 21,000,000 Bitcoins

The investor of Bitcoin wanted to create a currency that would have a finite number of coins floating around the market.

So there are only 21,000,000 Bitcoins in existence, and each one requires computer power to mine. Although only 10% is left to mine, that could take until 2140! 

7. Scammers May Steal Your Computer Processing Power

Most of us assume that cryptocurrency scammers would target your Crypto wallet. However, that’s not what happens to most victims.

Scammers tend to add malicious code to your computer and use that to mine Bitcoin. That’s known as Cryptojacking. Always make sure your computer’s security is up to date! 

8. Cryptocurrency Is Highly Volatile

Some people have made millions from crypto, so it’s a tempting prospect for any investor.

However, cryptocurrency’s price is highly volatile, which means it’s one of the most high-risk ways to invest your money. Before investing in crypto, ask yourself if you can afford to lose that money. 

Eight Facts About Cryptocurrency

These facts about cryptocurrency explain why some people love investing in this fun, albeit high-risk venture. Is it the right investment choice for you? Always do thorough research before attempting to answer that question.

For more interesting financial facts, why not browse through the latest articles in our business section.  

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How to Prepare for a Long-Distance Move

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How to Prepare for a Long-Distance Move

More than 27,059,000 people move each year, whether traveling across the state or the country. Regardless of when you’re preparing for a long-distance move, there are several things you’ve got to be aware of ahead of time.

We’ve created a checklist that you can use full of packing tips and other things you need to know, like the importance of hiring movers to aid in the big move. The more prepared you are, the easier and more stress-free the move will be.

Get ready to settle into your new home after you check out these need-to-know packing tips below.

Plan Ahead of Time

When moving to NY from California, you need to plan ahead. You need to do this to get everything in order, such as shutting off the utilities and turning it on at the new location before you’re scheduled to arrive.

The last thing you want to do is risk arriving at your new place and not having running water or working electricity when you get there. Another reason you want to plan ahead is that if you’ve decided to hire movers, you’ll need to coordinate the day they plan to pick up your items and deliver them to the new house.

Again you don’t want to arrive at your home and the movers not arrive with your items on the day you expect them to. Not only does this leave you without your necessities, but it could also mean you pay additional delivery fees that you’d not planned for.

If it helps, you could make a list of everything you need to do before you are set to move. We recommend making this list ahead of time so that you don’t feel rushed at the last minute to get everything completed.

Hire Professionals

Moving lots of items a long distance can be tricky, especially if you’re not used to driving a moving truck. Before you’re set to move, make a list of the best movers in your area.

You can do this by creating a list of mover names and estimates from your area. Ensure you have them clarify what you’re paying for because most rental companies provide a specific number of miles locally and out of state that could increase your overall rental price.

You’ll also want to inquire about the insurance needed to schedule movers to come and help transport your items. Ensure you get the estimates for each type of vehicle they offer.

When the move is complete, the larger the vehicle and the more movers you need, the higher the rental price. Once you’ve decided which moving company you’re going to work with, take the next steps to set your reservation.

If you’re making the appointment over the phone, ask the company to send you a confirmation email once the phone call has concluded. This will ensure you have tangible evidence of your appointment reservation just in case something comes up the day of the move where you need to contact the moving company.

Begin Packing Efficiently

When you move a long distance, it’s in your best interest to only pack the items you need and discard items you no longer use. The best way to do this is to take some time to declutter your home before you begin packing.

Make a pile of the items you need to get rid of, whether that means donating or discarding them accordingly. While it might prove to be a time-consuming process, in the long run, it will pay off when you don’t have to do these things while unpacking in your new home.

This is especially true if you’re downsizing and don’t have enough room to store all the items that you have currently in your home or apartment. Another reason to declutter your home is so that you can effectively determine how much packing material you need to pack, such as boxes and packing tape.

Check your local area for packing items because there are several places online where people want to get rid of their extra boxes for free. This can help you to save on packing expenses.

Forward Your Mail

When you move into your new place, the last thing you want to happen is for essential items to be mailed to your previous email. This means you need to take the steps necessary to forward your mail to your new address, which can be done online via the united states postal service website.

When forwarding your mail, ensure you list the names of everyone moving and the address of the new home. Then you will need to specify a date when you want the mail to begin being sent to the new location.

Along with forwarding your mail, you need to remember to change the address on other government documentation, such as:

  • Car registration
  • Drivers license
  • Voter registration
  • Insurance

When you don’t place your new address on these documentation forms, completing other things you need to complete after you’ve moved can become challenging.

When you’re moving a long distance, the last thing you want to do is travel back to your previous residence to take care of things that should’ve been completed before the move.

Preparing for a Long Distance Move & Things You Need to Know

When preparing for a long-distance move, you need to know several things, such as ensuring you forward your mail ahead of time. You should also remember to schedule movers and request estimates to help move your belongings from one place to another.

If you want to know more about this topic, continue to scroll through the posts in this section.

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