How does a Bitcoin transaction work?

A Bitcoin transaction is a digital exchange of value between two parties. It can be used to transfer money, goods, or services to anyone, anywhere in the world.

To make a Bitcoin transaction, you must first choose the amount of Bitcoins to send and the address of the recipient. The transaction is then broadcasted over the Bitcoin network and is secured using cryptography and complex algorithms. Transactions are stored on the blockchain, which records every single Bitcoin transaction ever made.

Once the transaction is confirmed and added to the blockchain, it cannot be reversed or tampered with. The transaction is complete after miners verify the transaction, and it is added to the blockchain. The miner then collects a small transaction fee for verifying the transaction. The entire process takes about 10 minutes.