Bitcoin owns 58% of global crypto-currency market

Baku. 13 December. REPORT.AZ/ Bitcoin continues to lead global crypto-currency market. 

Report informs, currently Bitcoin holds 58.3% of the total capitalization of the crypto-currency market. The total capitalization of the market is $ 487.5 billion, Bitcoin’s share - $ 284 billion. In general, there are 7,368 digital currencies in the world and 1,349 types of crypto-currency circulating in these markets.

The following chart illustrates the leading 10 crypto-currency units for capitalization:

However, it is important to note that it is very difficult to buy other digital currencies than Bitcoin paying dollars or manats.

Almost all crypto-currencies are bought and sold through Bitcoin. In other words, to get the Litecoin first you need to buy Bitcoin and then convert it to Litecoin. Therefore, daily diagram of digital currencies compared to Bitcoin is much more important than the graphics above:

Investors will get benefit in the Bitcoin equivalent if any digital currency gains value compared to Bitcoin. Then, they will have to calculate their earnings in a dollar equivalent compared to the price they receive. In other words, they can have Bitcoin profits from any other crypto-currency investment, but if the Bitcoin itself is cheaper than the dollar, the investors suffer losses.

Notably, the black market of Bitcoin has already been formed in Azerbaijan: it is possible to get Bitcoins even though it is not widely spread. Here, the Bitcoin is put from the wallet to the wallet, and then cash is paid to the Bitcoin owner. This is a cheaper option. Thus, when buying Bitcoin with bank cards in Azerbaijan, 18% tax charged. However, it is not so easy to find Bitcoins in this market because prices are rising.