Bitcoin Basics

Interactive guide to understanding Bitcoin fundamentals

1

What is Bitcoin?

Bitcoin is the world's first decentralized digital currency, created in 2009 by Satoshi Nakamoto.

It operates without any central authority. Transactions are verified by network participants using cryptography and permanently recorded on a public distributed ledger called the blockchain.

Decentralized • Secure • Borderless
2

How Transactions Work

When sending Bitcoin, you create a transaction that includes:

  • Your public address (like a bank account number)
  • Receiver's address
  • Amount to send
  • Your digital signature (proof of ownership)

This is broadcast to the network, where nodes verify it before miners include it in a block.

Signed → Broadcast → Verified → Confirmed
3

Mining & Blockchain

Miners compete to solve complex mathematical puzzles to add new blocks of transactions to the blockchain.

The first to succeed is rewarded with newly minted Bitcoin and transaction fees. This process secures the network and keeps it decentralized.

Competition → Proof of Work → New Block → Reward
4

Security & Wallets

Bitcoin security relies on public-key cryptography:

  • Public key — your Bitcoin address (shareable)
  • Private key — your secret (never share)

Your funds live in digital wallets. Choose from software, hardware, or paper wallets for different security levels.

Public Key ↔ Private Key
Keep private key safe
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