Bitcoin

Bitcoin

Simply put, Bitcoin is a new type of money that is a digital form of finance. Bitcoin only exists online. Each bitcoin is basically a digital computerized file that is stored in a digital wallet. People can transact bitcoin through digital wallets. This type of digital economy is actually known as 'cryptocurrency'. How Bitcoin Works Bitcoin works similarly to email. Just as an email address is required to send or receive an email, a bitcoin address, also known as a bitcoin wallet, is required for sending and receiving bitcoin. Only after getting Bitcoin Wallet will you be able to transact with Bitcoin clients. The Bitcoin address looks like this: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy. Bitcoin is an open digital finance system. Bitcoin works in peer-to-peer network cash system technology, so it has no central server or central storage. It is also not possible to clearly identify the owners of bitcoin. Every bitcoin transaction is recorded in a public list called 'Blockchain' which is publicly displayed. The Bitcoin wallet carries a private secret key (key) or data that is used in transactions and it also carries the identity of the owner of the wallet