How does Bitcoin work?

You can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once.

Balances - block chain

The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.

Transactions - private keys

A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining.

Processing - mining

Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being modified because doing so would invalidate all following blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively in the block chain. This way, no individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends.

Buy Bitcoin

Here is a list of Bitcoin traders and Exchanges


Over 300 ways to buy and sell bitcoin

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Universal Cryptocurrency Wallet. Secure, exchange and buy over 300 cryptocurrencies and tokens in a single interface.

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Purchase with Bitcoin

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. WeLv BC 128px

Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. 

Bitcoin is a protocol. Just like e-mail, bitcoin operates with a set of rules. Just like you can set up an e-mail address, then send and recieve messages and pictures. You set up a wallet, then send and receive bitcoin.

Ways to Purchase Bitcoin

Here is a link to exchanges:

I am working on a referral list based on feedback from all of you. Let me know your experiences with the various traders and exchanges. 

Local Bitcoins – This is a site where you can bitcoins from people locally with cash, by moneygram, western union, bank deposits and many other ways. When you place an order, copy and save the bitcoin wallet address and amount that you see on the confirmation page. 

Click here to visit

Bitcoin Exchange Rate

Check out this simple Bitcoin exchange calculator:


Current Bitcoin Users

If you are a Bitcoin user already, choose the Bitcoin option. I will assign you a unique wallet address and send you the info.

More About Bitcoin

What is Bitcoin?

Bitcoin is an innovative payment network and a new kind of money.

Learn more about Bitcoin