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What is Bitcoin?

Bitcoin is a digital money that runs without any form of centralised management, bank supervision, or government regulation. Instead, it uses cryptography and peer-to-peer software.

Every Bitcoin transaction is recorded in a public ledger (a database), and copies of it are stored on servers all around the world. These servers, referred to as a nodes, can be installed by anyone who has a computer. Instead of relying on a single point of trust, such as a bank, these nodes cryptographically agree on who owns the coins. This process is called consensus. 

Every transaction is shared across nodes and broadcasted to the network publicly.  These transactions are then collected by miners into a group called a block. This block is then added permanently to the blockchain every circa 10 minutes. Data in a blockchain is also referred to immutable. 


Click here to claim $10 of Bitcoin from Coinbase


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