Mining is a record-keeping service done through the use of computer processing power. Bitcoin is a crypto-currency and worldwide payment system that can be exchanged for other currencies, products, and services.
It was created as a reward for mining. Miners keep the blockchain consistent, complete, and
unalterable by repeatedly verifying and collecting newly broadcast
transactions into a new group of transactions called a block.
It is, therefore, important to state here that
Bitcoin is the first decentralized digital currency, as the system works
without a central bank or single administrator.
Transactions between users are done directly, without
any intermediary. These transactions are verified by network nodes
through the use of cryptography and recorded in a public distributed
ledger called a blockchain.
However, buying Bitcoin atimes may takes a difficult
process or have trust issues. And it may even be more difficult when you try to buy with
your credit/debit card.
But things seem to be changing as some companies have succeeded in making the process easier and instant than usual. You can buy Bitcoin and Ethereum with your credit/debit card with ease using Luno.
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