Introduction to Bitcoin
Bitcoin (BTC) is a cryptocurrency that operates on a peer-to-peer network and uses a PoW consensus algorithm. Bitcoin is not led by any centralized organizations, but maintains a common, trusted ledger through blockchain technology and encryption algorithms. Every bitcoin transfer will be recorded by all the miners of the network, and the validity of each transaction is verified by each block.
On October 31, 2008, Satoshi Nakamoto published a White Paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. The first Bitcoin block was unleashed on January 3, 2009. Learn More
A BTC wallet can help manage your BTC assets, including balance inquiry, transfer, etc. The most important thing in the wallet is the private key. Because you can control all the assets in the BTC wallet address with your private key.
In order to protect the privacy of users, the BTC wallet provides two types of addresses: main address and child address. At the same time, there are two types of toggle addresses: SegWit and General.
- imToken on mobile - Provides secure and trusted digital asset management services to millions of users in more than 200 countries and regions around the world
- imKey Hardware wallet - Safe and easy to use, protect your digital asset and say no to token theft from now on!
🔸Please learn how to make a backup before creating a wallet
- Bitcoin's private key, address and wallet
- What is a private key?
- What is a mnemonic?
- How to backup a wallet?
You can get BTC in various ways. The easiest way is to buy. There are many cryptocurrency exchanges on the market that allow you to buy BTC, but users need to choose the preferred exchange according to location and payment method.
Before buying BTC, try to understand the purchase methods & risks here, so that you can complete the purchase process in a safer and quicker way.
🔸Exchanges that support the purchase of BTC
You can trade your BTC assets through both decentralized platforms or centralized platforms.
🔸Decentralized Exchange Tokenlon
Tokenlon is a decentralized exchange powered by 0x protocol. It aims to offer a seamless trading experience with fast speed, competitive price and more token options. The trading assets are completely controlled by users, and you can use Tokenlon to quickly complete currency exchange without topping up or withdrawing.
Tokenlon currently issues imBTC. imBTC is an Ethereum Token issued with a 1:1 anchor to BTC. Unlike BTC, the holder can transfer, redeem, exchange imBTC as well as receive an income share of the Tokenlon platform fees while holding imBTC. Learn More
The exchange acts as a custodian to provide a valuable service with liquidity, featuring low learning costs and high matching efficiency.
Please make sure that your BTC wallet has sufficient assets and the balance is enough to cover the miner fees required for the transfer.
🔸How do Bitcoin transactions work:
🔸You may encounter the following conditions:
- The difference between doing transactions in blockchain and in bank
- What if I send to the wrong address?
- How to set miner fees?
- Bitcoin transaction accelerator
Anyone can participate in Bitcoin mining. The essence of mining is to process transactions by calculating hashes, to ensure the security of the Bitcoin main network and to keep the account information of the entire network consistent.
Satoshi Nakamoto, claimed to be Japanese-American, released the Bitcoin white paper "Bitcoin: A Peer-to-Peer Electronic Cash System" in 2008. He mined the genesis block of Bitcoin in 2009. He has disappeared from the public eye and has become a "mystery" forever. Learn More
Bitcoin Related Features
Bitcoin Block Explorer
Bitcoin Block Explorer is a web tool that provides detailed information about Bitcoin blocks, addresses, and transactions.
- Blockchain.com | The most commonly used Bitcoin block explorer
- BTC.com | Bitcoin block explorer
🔸You may wonder how to use: