When they first started, very few people cared about cryptocurrencies, however, like everything else the world grew to accept them. As they did so, they became indispensable to online casinos. So today we want to take a look at a few facts about cryptocurrency that you might not know.
21 Million Bitcoins
Yes, you read it right, there are only 21 million Bitcoins and no more. It is believed that the creators of Bitcoin plan only to make and sell 21 million. With that being said, the last bitcoin will be mined in 2040. After that, we can all kiss bye-bye to Bitcoin. That is unless the plan changes of course.
Would you buy a multimillion-dollar pizza? We don’t think so, unless of cause if it was an everlasting pizza, but even with that a million dollars on pizza seems to be a bit too much. May 2010, the first bitcoin purchase was made. It was for two pizza that cost 10,000 BTC. Doing your calculations with the rate of BTC today that is a lot of money.
Not the person, but the Bitcoin cryptocurrency. You know how in Mzansi, we have Rands and Cents? Well in bitcoin, they have Bitcoin and Satoshi. Small amounts of bitcoins are called Satoshi. Meaning to say that Satoshi are like the cents to the South African Rand.
You can’t replace your Bitcoin wallet
You know in real life when you lose your wallet, you can report to the police and recover all your things? Well, that is surely not the case for Bitcoin. Once you lose access to your wallet, it’s bye-bye. There is no way that you can recover your BTC wallet once you forget your secure private key. So do make sure that you keep it in a safe place even as you play your favourite online casino games.