The average person likely doesn’t have any bitcoins.
Of those who do, most probably only have a small amount.
A 2018 survey by Blockchain Capital found that only 8% of Americans own any bitcoins. Of those, 34% own less than $1,000 worth and another 30% own between $1,000 and $10,000 worth.
Just 3% of respondents said they own more than $10,000 worth of the cryptocurrency.
Those figures are likely to be even lower for the rest of the world.
NOTE: Warning: Investing in Bitcoin carries a high level of risk. It is important to understand the risks associated with Bitcoin before investing. There is no guarantee that an average person will have any amount of Bitcoin and the value of Bitcoin can fluctuate significantly, so any investment may result in a loss. It is important to research the security of any platform used for storing or trading Bitcoin and to inform yourself about the potential risks associated with investing in this digital asset.
The reason most people don’t own any bitcoins is because it’s still not very easy to buy them. You can’t just go to your local bank and exchange dollars for bitcoins.
You have to buy them through a cryptocurrency exchange or broker, which can be tricky for first-time buyers.
And even if you do go through all the hassle of buying some bitcoins, there’s no guarantee their value will go up. In fact, it could just as easily go down.
Bitcoins are notoriously volatile, so it’s not surprising that many people are hesitant to invest in them.
So unless you’re willing to take on a fair bit of risk, it’s probably best to steer clear of bitcoins for now.
7 Related Question Answers Found
Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. The presumed pseudonymous Satoshi Nakamoto integrated many existing ideas from the cypherpunk community when creating bitcoin. Over the course of bitcoin’s history, it has undergone rapid growth to become a significant currency both on- and offline.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
When it comes to digital currencies, there is no doubt that Bitcoin is king. The original cryptocurrency has been around for over a decade and it is still the most well-known and widely used. But what exactly is a Bitcoin bit?
Mining Bitcoin can be a profitable venture for anyone with access to the right resources and equipment. The amount of Bitcoin that can be mined in a day will vary depending on the individual’s hashing power, the efficiency of their mining rig, and the current difficulty of the Bitcoin network. Generally speaking, it is possible for one person to mine a few hundred dollars worth of Bitcoin in a day.
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin is a cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part.
