Bitcoin halving is coming: everything you need to know about it

bitcoin halving may 2020

One of the most anticipated events in the cryptocurrency industry for 2020 is the third Bitcoin halving, sometimes called a “halvening” by the bitcoin and cryptocurrency community. It will occur on May 12.

Let’s find out what is the Bitcoin halving, and why is it so important for the entire crypto community.

What is a bitcoin block halving?

It is a process of reducing the rate at which new cryptocurrency units are generated.

Bitcoins are generated whenever a “block” of transactions are solved by miners and implemented to the Bitcoin blockchain. The process occurs every 10 minutes. So, every 10 minutes new bitcoins are made.

This is an expensive process which requires special hardware and loads of electricity. Miners are rewarded with new bitcoins in return.

On May 12, 2020, the total number of bitcoin mined by miners per block will slide down from 12.5 to 6.25 BTC. When bitcoin first appeared, the block reward was 50 BTC.

This halving will reduce the amount of bitcoin rewarded to miners, as a result, it will increase the coin’s scarcity.

We should expect 32 bitcoin halving events only, and after them no more BTC will be created.

When was the last halving of Bitcoin?

The last bitcoin halving happened in July 2016, just 6 months before bitcoin’s price spike.

Does it affect BTC price?

The block reward halving may have a long-term positive effect. Just imagine: if fewer bitcoins are being generated, the newly increased scarcity automatically makes them more valuable. But this doesn’t happen right away.

So, if you believe that btc can boost after the 2020 halving, get ready for it with Quantum.uk. You can buy bitcoins here and HODL BTC until the price rocket. Sign up with Quantum.uk and enjoy everything we have to offer.

That’s all for now. We hope that our article will be helpful for you. Don’t forget to share this blog post, and stay tuned for new updates in Quantum.uk blog!

What is the best place to exchange cryptocurrency for fiat?

fiat and cryptocurrency exchange with wallet

We all know that after obtaining a wallet, it is often the next item on the agenda. New cryptocurrency exchanges are growing rapidly worldwide, and there are numerous platforms with varying options and specialties. So, it is quite difficult to find the best cryptocurrency exchange site for your individual needs.

Not so long ago we’ve discussed how to find the most suitable exchange available in Europe. Today we offer to take a look at Quantum.uk. Why should you choose this service over other platforms? Let’s find it out.

Continue reading “What is the best place to exchange cryptocurrency for fiat?”