The halving occurs every 210,000 blocks, approximately every four years. The last halving event took place on May 11, 2020. As a result, the bitcoin reward for each new block decreased from 12.5 BTC to 6.25 BTC. Dates of Bitcoin Halvings Halving Expected. Date Block Height Block Reward (BTC) 0 No data 0 50 1 11/28/2012 210,000 25 2 07/09/2016 420,000 12.5 3 2020 630,000 6.25 4 2024 840,000 3.125 5 2028 1,050,000 1.5625 Why Halving Bitcoin is Needed Dividing the mined BTC in half is important for the network, because it follows the Nakamoto-based principle: “The supply of bitcoins will eventually be decrease, and then stop as soon as the last bitcoin is mined.” This periodic reduction in supply also helps to increase the value of bitcoin, since the amount entering the system decreases with each reduction, demand will either remain the same or increase. Following the basic rules of supply and demand, this raises the price. The result and conclusion about Halving Bitcoin Satoshi Nakamoto disappeared from the network about a year after the creation of the software. What he left behind has turned into a remarkable financial movement that shapes the world in itself. While all other currencies around the world can be created without restrictions, the limited supply of bitcoins is a powerful remedy against the toxic culture of money printing. Dividing bitcoins in half is a periodic reminder that money can be smarter, more valuable and more democratic. The true value of a fiat currency is in free fall. But as more and more people realize the true power of cryptocurrency, bitcoin is becoming stronger than ever before.
When setting up an account on cryptocurrency exchanges, you will face the need to pass a video identification, known as KYC or Know-Your-Customer. KYC is a process that banks and other financial institutions use to collect identifying data and contact information from customers. The purpose of KYC is to prevent fraud, money laundering, terrorist financing, suspicious activity and compliance with economic sanctions. KYC is now a legal requirement for all financial institutions when customers open accounts. KYC allows financial institutions to make their services more secure and transparent. Since banking and finance are linked to all other industries, most businesses, partners and platforms must also adhere to KYC financial standards.