The Mogo Blog

The Digital Champs

With weeks of strict physical distancing measures, not only have Canadians been staying in and spending less, many online and digital technologies have been thriving. Use of digital entertainment services like Netflix and Spotify have gone up rapidly. You’ve probably also heard about online video communication services, such as Zoom, becoming wildly popular. But did you know that the most prominent digital currency in the world, bitcoin, is also experiencing some big changes? Its value has risen sharply over the last few weeks as it’s approaching its 550 millionth transaction. What’s even more interesting is that it’s “halving” some time this month. What’s “halving”? It means that the amount of bitcoin (BTC) being generated and entering circulation every 10 minutes will drop by half. It’ll be going from 12.5 BTC to 6.25 BTC some time in May. Bitcoin halving is programmed to happen every time the network processes approximately 210,000 megabytes of transaction data, which takes about 4 years. This has already happened twice, back in 2012 and 2016. Behaving similarly to gold mining, bitcoin is finite and it also becomes harder to produce over time. Once all 21 million coins

You Never Know

It might be hard to believe, but had you invested only $5 into bitcoin in March of 2010 it would now be worth approximately $20 million today. Over the decade, bitcoin has been a real theatre... Although the debate will continue, bitcoin’s now been around for over 10 years and there’s only ever going to be 21 million of them. Today, bitcoin is valued at around $13,500 per coin, about half of its all time high. Whichever side you’re on, remember that bitcoin can be volatile and is clearly a speculative investment. Experts generally recommend that you have no more than 10% of your investment portfolio in the speculative category. Whether you’re thinking about buying some bitcoin or not, there is an easy way to experience buying and owning without risking your own money. Check out the app hack below! The best way to learn about something is to actually do it, and we’re making it easy. Simply download the Mogo App & activate your Mogo Crypto account now. Don't have the app? Get it now. Approximate price of bitcoin is as at the time of writing on February 19, 2020. Buying and selling bitcoin