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Bitcoin is a decentralized digital newtwork of currency that operates on a peer-to-peer basis. Before you invest in it you should always do your research.
One person will request a transaction to either buy or sell Bitcoin.
The required transaction is subsequently transmitted to a network of nodes, a collection of computers.
The transaction needs to be approved by the network. Using algorithms, the network of nodes verifies the transaction, at which point it is considered valid.
Once this one transaction has been validated, it is combined with additional transactions from a fresh "block" of data.
The block is subsequently included in the blockchain, which offers an unalterable and transparent record of transactions that is available for download and viewing by anyone. Every bitcoin transaction's history may be found on the open blockchain.
The transaction is now complete and the Bitcoin has been succesfully bought or sold.