Post
Topic
Board Bitcoin Discussion
Re: How does Bitcoin work?
by
Maus0728
on 27/06/2020, 07:47:11 UTC
Bitcoin is a completely virtual currency.
It is a cryptocurrency. Take note that fiat currency can transform into virtual currency with the help of an intermediary such as Paypal or any other cash app.

Bitcoins are stored in the user's wallet.
Err.. nope, they are stored on a public database called blockchain. Your bitcoin wallet only stores the key pair that the wallet generates which is then used to sign your transactions and published it to the bitcoin network.

You may want to review your understanding here --https://en.bitcoin.it/wiki/Main_Page to avoid misconceptions  Wink