Learn more about crypto with this collection
Understanding the basics of cryptocurrency
How to store cryptocurrency securely
Risks and benefits of investing in cryptocurrency
Cryptocurrency is digital money that is used to buy and sell online.
It is an entirely decentralised system that uses blockchain technology to track transactions.
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Say you want to buy a bike from a friend using, for example, Bitcoin.
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To ensure that every block of transactions on the chain is verified, a subset of Bitcoin's network tries to solve the complex puzzle. The first one to succeed is rewarded with Bitcoins of their own. The network then adds the new block on the chain.
This process is known as mining. The Bitcoin protocol states that mining will continue until there are 21 million Bitcoins in existence. That will happen around 2140.
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