Cryptocurrency Q&A
What happens when you sell 1 Bitcoin?
What happens when you sell 1 Bitcoin?
Martina
Sun Dec 08 2024
|
5 answers
1057
I want to know what occurs, the process and consequences, when I decide to sell one Bitcoin. What are the steps, the transactions, and the effects this action will have?
5 answers
KatanaSharpness
Tue Dec 10 2024
The Bitcoin blockchain is designed to be immutable and tamper-proof, ensuring the integrity and security of all transactions. This means that once a transaction is recorded on the blockchain, it cannot be altered or deleted.
Was this helpful?
234
20
CryptoAlchemyMaster
Tue Dec 10 2024
When you sell bitcoin, you're not actually transferring the digital currency itself. Instead, you're transferring ownership of a specific piece of the blockchain. This transfer is facilitated through the use of private keys.
Was this helpful?
115
85
ZenBalanced
Tue Dec 10 2024
Private keys are essential for accessing and controlling bitcoin. They serve as a digital signature that proves ownership of a particular piece of the blockchain. When you sell bitcoin, you transfer your private key to the buyer, thereby transferring ownership.
Was this helpful?
278
82
Daniele
Tue Dec 10 2024
Conceptually, this notion can be somewhat tricky. It's crucial to grasp that Bitcoin doesn't physically move from one location to another. Instead, it exists perpetually on the Bitcoin blockchain.
Was this helpful?
142
50
Federica
Tue Dec 10 2024
BTCC is a prominent cryptocurrency exchange that offers a range of services to its users. These services include spot trading, futures trading, and a secure wallet for storing digital currencies. With BTCC, users can buy, sell, and trade bitcoin and other cryptocurrencies with ease.
Was this helpful?
288
50
