Cryptos Land: How Bitcoin Transaction Works?

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Tuesday, 10 October 2017

How Bitcoin Transaction Works?

Are you a new user to Bitcoin and Cryptocurrency?. Searching how Bitcoin transaction works?. How is money transferred from one person to another securely and without delay?

You can get started with Bitcoin without understanding the technical details but still if you wish to browse through this technology than you have landed on the right place. So how the transactions are processed?

Also See : Nine Ways To Earn Bitcoins

When anyone send a transaction on Bitcoin network it is included in a block. You can see real time Bitcoin blocks and transaction here. After getting included in a block it is send to miners. Miners are people who secures the Bitcoin network and confirms the transaction. You transaction is relayed in the network and is confirmed according to your fees. If your fees is high it will confirmed soon if it is low it can even take hours to confirm. After getting some confirmations from miners your wallet is credited with Bitcoins. You can see the latest Bitcoin network fees here
How Bitcoin Transaction Works
How secure is this?
Bitcoin is one of the fast and secure method to transfer money. Transacting in Bitcoin is safe since nobody owns it and the transaction are confirmed using a secured process called mining.
You can see the below picture regarding how money is send from one person to another.

How Bitcoin Transaction Is Processed

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