How do bitcoins work
Why is Bitcoin a Viable Medium of Exchange?
Banks and other intermediaries involved in the transaction charge fees (usually 2% to 5% per transaction). With cryptocurrency, the payment is routed directly from the sender to the recipient, eliminating all intermediaries and significantly reducing costs. But there is also a drawback — high fees for withdrawing bitcoins to a card or e-wallet. Moreover, the Bitcoin price is not stable, which may cause certain losses. Bitcoin transaction Whatever Bitcoin’s eventual fate, its blockchain technology is truly ingenious and groundbreaking. Bitcoin has shown how programs running on networks of computers can be harnessed to securely conduct payments, within and between countries, without relying on avaricious financial institutions that charge high fees. For migrant workers sending remittances back to their home countries, for instance, such fees are a major burden. Technologies that make payments cheaper, quicker and easier to track would benefit consumers and businesses, facilitating both domestic and international commerce.Bitcoin transactions
This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undo-ing transactions. How does the confirmation of a transaction work? Community Alert: There is currently a fake @Ledger Live app on the official @Microsoft App Store which was resulted in 16.8+ BTC ($588K) stolen