If you understand how bitcoins transaction work than you’ll know that its is impossible to steal your Bitcoin wallet.
Bitcoins can be bought or mined. Bitcoins are stored in a wallet that only you can access. This wallet can exist on an exchange or it can be a physical device that stores your encrypted key. Bitcoin is an encrypted digital currency, which has no physical form that uses encryption with two parts which is a public key and a private key.A public key is visible to all and is a string of 34 characters. Private key is a unique combination of 64 characters, that is only known by you.
Understanding the Bitcoin Blockchain
With this introduction that we will give you below you will understand the steps for purchasing Bitcoin.
At the start you need to set up a wallet after that our journey begins.
1st step: Vİsit the website and place a purchase request.
2nd step: Once you start the process we will show you the current conversion rates for Bitcoin that allows you to figure out how much fiat money you will require to complete the purchase.
3rd step: By confirming the transaction you started the request of purchase. The message of transaction firstly goes through the network of Bitcoin, which consists of all the current bitcoin wallet owners, a public ledger and bitcoin miners.he public ledger consists of a chain of bitcoin transactions which is takes place since the bitcoin exchange began.The minor adds your unconfirmed transaction to the previous block and begins confirming the validity.
The minor verifies the authenticity of your digital signature and public key hen confirms your transaction, adding another block to the previous transactions. In return, he receives transaction fees.
4th step: Once you get all your transaction confirmations, you will receive bitcoin. The confirmation times depend on the amount of bitcoin you have sent the receiver.
