What is bitcoin & how does it work?

Bitcoin is the first and most widely recognized cryptocurrency. It enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol, cryptography, and a mechanism to achieve global consensus on the state of a periodically updated public transaction ledger called a 'blockchain.'

What are illegal transactions in Bitcoin?

1. Illegal transactions are a small percentage of overall Bitcoin activity. Illegal activity is a small fraction (3%) of what actually goes on in the Bitcoin blockchain. Because the Bitcoin blockchain is a public ledger, all payments flowing between addresses are observable.

Where to buy bitcoin?

The current CoinMarketCap ranking is #1, with a live market cap of $685,197,731,073 USD. It has a circulating supply of 18,726,212 BTC coins and a max. supply of 21,000,000 BTC coins. If you would like to know where to buy Bitcoin, the top exchanges for trading in Bitcoin are currently Binance, Huobi Global, OKEx, CoinTiger, and ZG.com.

Who owns bitcoin?

Bitcoin ownership is concentrated among the rich. The authors found that participation in Bitcoin is skewed toward the elite. Their research showed that at the end of 2020, there were 1,000 “clusters” controlling 2 million bitcoins.