Working with BUYBank exchanger
How to exchange Bitcoin online with BUYBank
What is a Bitcoin transaction?
The data section, which is verified by signature and transmitted over the Bitcoin network is called a bitcoin transaction. Information about transactions with cryptocurrency is stored in the blocks that make up the list of transactions.
The history of the BTC “walk” is a chain consisting of such blocks (blockchain). A separate block contains a heading and a list. The header contains the transaction hash code, its own hash code and the hash code of the previous block.
By sending a transfer, the user initiates a request to create a unique 16-digit code. Next, the miners find the next block and use the sha-256 algorithm to write transaction information to it.
After the procedure is over, the transfer is considered completed, and the recipient of the money can use them for settlements or transfers to other users.
Bitcoin transactions attract users with their speed and cost, as well as the absence of a correspondent bank and low risk of failures.