What is bitcoin & how does it work?

Bitcoin is the first and most widely recognized cryptocurrency. It enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol, cryptography, and a mechanism to achieve global consensus on the state of a periodically updated public transaction ledger called a 'blockchain.'

What is Bitcoin (BTC)?

Sponsored by What's this? What Is Bitcoin? Bitcoin (BTC) is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, thus removing the need for third-party involvement in financial transactions.

How do I use Bitcoin?

However, its use cases are growing due to its increasing value and competition from other blockchains and cryptocurrencies. To use your Bitcoin, you need to have a cryptocurrency wallet. Wallets hold the private keys to the bitcoin you own, which need to be entered when you're conducting a transaction.

What is bitcoin mining?

Bitcoin mining is the process of adding new transactions to the Bitcoin blockchain. It’s a tough job. People who choose to mine Bitcoin use proof of work, deploying computers in a race to solve mathematical puzzles that verify transactions.