Bitcoin trading seems crazy! Computers trading for virtual coins? Is Bitcoin trading just free money? Well, it's much, much more than that! If you want the full explanation on Bitcoin trading, keep reading...
Bitcoin trading is the backbone of the Bitcoin network. Traders provide security and confirm Bitcoin transactions. Without Bitcoin traders, the network would be attacked and dysfunctional.
Bitcoin trading is done by specialized computers. The role of traders is to secure the network and to process every Bitcoin transaction. Traders achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin’s famous “blockchain”). For this service, traders are rewarded with newly-created Bitcoins and transaction fees.
Traders are securing the network and confirming Bitcoin transactions.
Traders are paid rewards for their service every 10 minutes in the form of new bitcoins.
There are many aspects and functions of Bitcoin trading and we'll go over them here. They are:
1. Issuance of new bitcoins
2. Confirming transactions
3. Security
1. Issuance of new bitcoins
Traditional currencies like the dollar or euro are issued by central banks. The central bank can issue
new units of money at anytime based on what they think will improve the economy.
Bitcoin is different. With Bitcoin, traders are rewarded new bitcoins every 10 minutes.
The issuance rate is set in the code, so traders cannot cheat the system or create bitcoins out of thin air.
They have to use their computing power to generate the new bitcoins.
2. Confirming transaction
Traders include transactions sent on the Bitcoin network in their blocks.
A transaction can only be considered secure and complete once it is included in a block.
Why?
Because only when a transaction has been included in a block it can be officially embedded into Bitcoin's
blockchain.
2. Security
In short, traders secure the Bitcoin network.
They do this by making it difficult to attack, alter or stop.
The more traders that trade, the more secure the network.
The only way to reverse Bitcoin transactions is to have more than 51% of the network hash power. Distributed hash
power spread among many different traders keeps Bitcoin secure and safe.
Before thinking on buying a trading plan on Crypexchain, you need to first get a Bitcoin wallet.
This wallet is what will be used to store your bitcoins. We and our partners try as much as we can to make sure we
keep our trading hardwares and softwares running 24/7. You don't need to worry on getting trading hardwares and softwares
for yourself after investing/buying a trading plan on Crypexchain. We work 24/7 to make sure we distribute Customers portion
(Bitcoin) across all our Customers (depends on trading plan).
