Bitcoin runs on its own blockchain, excluding the need for any third-party help in facilitating transactions and storing value. Bitcoin mining is the magic behind the Bitcoin network.
Bitcoin runs on a proof-of-work (PoW) blockchain, which is essentially a chain of consecutive blocks containing transaction activity. Bitcoin miners run specialized computer equipment that constantly searches for the answers to complex math puzzles.
The miner or group of miners that solves the puzzle receives a reward in the form of BTC: the block reward and the transaction fees paid by senders of the Bitcoin transactions included in that specific block. Bitcoin’s carbon footprint has been a topic of discussion, however, due to the energy required for mining.
How and where to buy Bitcoin
Bitcoin can be traded via numerous avenues. Buying BTC on a crypto or Bitcoin exchange is one such method of trading Bitcoin. Those interested can also buy Bitcoin in other ways, such as in a peer-to-peer fashion.
One possible route for those wishing to use or hold Bitcoin might include making an account on a centralized crypto exchange, sending money from a linked bank account and then buying Bitcoin on the exchange. It is important, however, to comply with any relevant jurisdictional laws when purchasing Bitcoin or other cryptocurrencies, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
How much is 1 Bitcoin worth? What is the price of Bitcoin today? What is Bitcoin’s value today? These are all logical questions. Bitcoin’s USD price changes constantly, as the asset trades on the market 24/7 without holidays. The current Bitcoin price can be seen at the top of the page via the live Bitcoin price. For Bitcoin price history, see the Bitcoin price chart above.