How does BTC payment work and what are the steps involved?

3 answers

• socBuilderOct 14, 2024 · 8 months ago
  Bitcoin payment works by using a decentralized digital ledger called the blockchain. When you make a payment with BTC, it is recorded on the blockchain and verified by network nodes through cryptography. The steps involved in BTC payment include creating a Bitcoin wallet, obtaining a recipient's Bitcoin address, entering the payment amount, and confirming the transaction. Once the transaction is confirmed, it is added to a block on the blockchain, making it secure and irreversible.
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• lekshmi pradeepMay 14, 2021 · 4 years ago
  BTC payment is a simple process. First, you need to have a Bitcoin wallet, which can be a software or hardware wallet. Then, you obtain the recipient's Bitcoin address, which is a unique identifier for their wallet. Next, you enter the payment amount in BTC and confirm the transaction. The transaction is then broadcasted to the Bitcoin network, where miners verify and add it to the blockchain. Once the transaction is confirmed, the recipient can access the funds in their wallet.
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• Moshe SepiashviliAug 28, 2020 · 5 years ago
  BTC payment works similarly to other cryptocurrencies. You start by creating a Bitcoin wallet, which can be done through various online platforms or mobile apps. Once you have a wallet, you can obtain the recipient's Bitcoin address and enter the payment amount. After confirming the transaction, it is broadcasted to the Bitcoin network for verification. Miners then compete to solve complex mathematical problems to validate the transaction and add it to the blockchain. Once the transaction is confirmed, the recipient can use the received BTC as they wish.
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