Bitcoin mining is analogous to the mining of gold, but in a digital form. The process involves specialized computers solving algorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network. Bitcoin mining provides a reward for miners by paying out in Bitcoin, and in turn the miners confirm transactions on the blockchain. Miners introduce new Bitcoin into the network and also secure the system with transaction confirmation. They are also rewarded network fees for when they harvest new coins, and until a time when the last Bitcoin is found mining will continue.

Bitcoins can be bought from various sources. You can purchase them online using our website or through an exchange / brokerage service. You can pay via credit card, debit card, bank transfer with fiat currency, and some services also accept Paypal. Bitcoin Cash can be purchased locally using Bitcoin.com Local, and from Bitcoin Teller Machines which are similar to cash ATMs that you find worldwide.

Bitcoin is a currency born into the digital age. A perhaps the most prominent form of digital money, Bitcoin works very differently to the traditional world of finance. It offers three core values in which many currencies cannot attain: Decentralization, Open Source, and Peer-to-Peer networking. Physical Bitcoins do next exist, as the currency only exists on a public ledger that allows transparent access to all. Bitcoin is not issued or backed by any banks or governments, which makes it a completely universal currency.

Bitcoin is a network operating by the three foundational principles of technological freedom: decentralization, open source code, and true peer-to-peer technology. Bitcoin’s trust is based on the subjective valuations of human faith in mathematical algorithms, encryption and numbers. With the three pillars of technological principles, Bitcoin’s blockchain is a peer-reviewed system of integrity.