What is a bitcoin account?

Although the term is used widely by crypto-newbies, there is no such thing as a ‘Bitcoin account’ per-say. On the contrary, Bitcoin is a decentralized digital currency, meaning that you will not have an account with a third-party entity.

How do I use Bitcoin?

To use your Bitcoin, you need to have a cryptocurrency wallet. Wallets hold the private keys to the bitcoin you own, which need to be entered when you're conducting a transaction. Bitcoin is accepted as a means of payment for goods and services at many merchants, retailers, and stores.

How does bitcoin work?

This unlocks the central function of Bitcoin — securely transferring ownership from one user to another. Bitcoin mining: Users on the Bitcoin network verify transactions through a process known as mining, which is designed to confirm that new transactions are consistent with other transactions that have been completed in the past.

Are bitcoin transactions public?

Public: All Bitcoin transactions are recorded and publicly available for anyone to see. While this virtually eliminates the possibility of fraudulent transactions, it also makes it possible to, in some cases, tie by deduction individual identities to specific Bitcoin addresses.