How does Bitcoin work?

Bitcoin is a completely virtual currency. It does not require a bank to transact or save. Although it cannot be touched or touched, its use is similar to that of ordinary coins. Bitcoins are used to purchase products and services online. Many people keep depositing bitcoin in the hope of future price increases. Bitcoin transactions are done through peer-to-peer system. Bitcoins are stored in the user's wallet. Wallets can be both online and offline. Wallet is a kind of personal small database. This database can be stored on computer drives, smartphones, tablets or cloud storage. Various applications have also been created for use as wallets.

Each wallet has a specific address. This address is encrypted. Bitcoin transactions are made by transferring bitcoins from one address to another. Each transaction is recorded in an open ledger called Blockchain. One bitcoin is added to the network after each transaction is completed. This is called bitcoin mining. Blockchain and bitcoin mining are two important issues in the Bitcoin transaction system.