10 fun facts about crypto you probably didn’t know
10 Fun Facts About Crypto & Crypto Betting
Thanks to advances in crypto betting, the future is now! But how much do you really know about crypto and cryptocurrency casinos? To help you brush up on your cryptocurrency trivia, we’ve compiled 10 crypto fun facts you probably didn’t know. Read through, because we’ll also teach you how to deposit and play with crypto at Ignition.
1. We Still Don’t Know Who Invented It
Everyone loves a little mystery – and in the world of blockchain and cryptocurrencies, that’s how it all began. In 2009, an anonymous person(s) under the alias Satoshi Nakamoto penned the whitepaper for Bitcoin – the cryptocurrency that started it all. Even though it’s been more than a decade since Nakamoto launched Bitcoin and created a whole new financial world, their identity has never been revealed. For years, people have theorized about who Nakamoto could be, but we may never know for sure.
2. The First-Ever Commercial Bitcoin Purchase Was Made on a Pizza
The year was 2010. A Florida man was in desperate need of a pizza, as we all are at some point in our lives. Rather than pay for his Papa John’s pizzas in traditional cash, this man paid 10,000 Bitcoin, inadvertently becoming a trailblazer for a new era in financial trading. An extra fun fact? Nowadays, 10,000 Bitcoin are worth close to US$170 million. That’s a whole lotta pizzas.
3. There Are Over 320 Million Crypto Users Worldwide
In 2022, Singaporean blockchain firm Triple A analyzed crypto adoption around the globe. In its analysis, the firm estimated that there were more than 320 million cryptocurrency users worldwide, creating an average crypto ownership of 4.2% globally.
It also stated that the top five countries with the most crypto users were:
1. USA (46 million)
2. India (27 million)
3. Pakistan (26 million)
4. Nigeria (22 million)
5. Vietnam (20 million)
4. Dogecoin Started as a Meme-Inspired Joke
If you were on the internet in any capacity in 2013, you probably remember the doge meme. Y’know, the meme of the stunned-looking Shiba Inu dog staring at the camera with text of broken English overlaid, such as “much wow” or “so scare”.
Well, did you know that this meme was the inspiration for what is one of the most widely recognized cryptocurrencies to date? Not only was the Dogecoin cryptocurrency inspired by a meme, but it actually began as a joke.Two engineers created the coin as a means of poking fun at people who were taking the Bitcoin craze super seriously. Little did they know it would take off and become recognized worldwide as the first “meme coin”.
5. NFTs Aren’t Actually Cryptocurrencies
It’s a common misconception that NFTs (non-fungible tokens) are a new form of cryptocurrency. In reality, though, they’re very different.
Both cryptocurrencies and NFTs use blockchain as their supporting network systems. However, NFTs are digital assets that are associated with real-world items. So, in essence, you can buy an object by buying the digital NFT code associated with that object. Because all of these items are unique and distinct, the tokens are, too.
On the other hand, cryptocurrencies are financial currencies that are fungible. One simple way to think of it is this: one Litecoin is always going to equal one Litecoin, no matter what happens in the financial market. But one NFT doesn’t necessarily equal another NFT.
6. Crypto Betting is the Fastest Way to Get Your Money
When you withdraw and deposit with crypto at Ignition Casino, you’ll enjoy wicked-fast transaction speeds. Compared to more traditional payment methods – such as credit cards or checks – making withdrawals and deposits with crypto is quick as lightning.
At Ignition, you’ll usually see your crypto deposits appear in your account in as little as 15 minutes. When it comes to withdrawals, once your transaction is approved, you can expect to see the money in your account within one to 24 hours. You can learn more about our accepted cryptocurrencies and the transaction processing times via our crypto FAQ.
7. When You Bet with Crypto, You’ll Enjoy Tons of Bonuses & Promos
As if crypto betting couldn’t get any better, it also opens the door to plenty of bonuses and promotions.
For example, at Ignition Casino, we proudly offer a range of epic crypto promotions, including the Crypto Welcome Bonus, which could score you up to $3,000 in bonus cash. We also have our Refer a Friend Bonus; get 200% of your friend’s first deposit up to $100, with an added $25 bonus if they make their first deposit with crypto! There’s also The Weekly Boost, a weekly bonus that offers a 100% match up to $1,000 when you deposit with crypto.
8. There Are Even Tournaments Dedicated to Crypto Betters
When you deposit with crypto at Ignition Casino, you’re taking your first step in getting involved in unreal crypto tournaments. Yep, that’s right – there are plenty of tournaments specifically designed for crypto betters!
For instance, Ignition members who deposit with crypto (a minimum $20 deposit) will gain entry into the exclusive Weekly $2,500 Crypto Depositor’s Freeroll. As the name suggests, you’ll have the chance to win a cool $2,500 in this exciting competition.
9. Bitcoin Isn’t Limitless
Because cryptocurrencies are digital, it’s easy to think that they’re infinite. After all, if we need more, it must be easy to just…create more, right?
Well, not exactly. Bitcoin, like all cryptocurrencies, relies on a blockchain network, which has a maximum capacity of 21 million coins. That means that, eventually, the Bitcoin system will run out of space – so be sure to get in on the profitable action while you can!
10. There’s Only One Country in the World That Recognizes Bitcoin as Legal Tender
While cryptocurrencies are legal to purchase in several countries around the world – including the United States, Canada, EU nations, and Australia – there’s only one that has recognized it as legal tender: El Salvador. In 2021, President Nayib Bukele made it official, saying that he was helping El Salvador make advances toward the first world.
Start Playing with Crypto Now
Ready to start your crypto betting journey? Learn more about how to deposit with crypto to take the first step in this futuristic form of online gaming. We can’t wait to see what rewards you reap.