Bitcoin (BTC) is a decentralized cryptocurrency. It is an open code; identified by encrypted and anonymous codes. Since it uses peer to peer (P2P) technology, it enables all kinds of financial transactions to be recorded easily between peers in a secure environment.

 

In order to understand the functioning of Bitcoin, it is necessary to know the concept of decentralized finance first. The decentralized finance structure is independent from the authorities and not open to manipulation. All transactions are transparent, transfer costs are low, and reliability is high. In addition, since the transactions are not under the control of anyone, they are never closed and there is no limitation on the amount of transfers. In addition, transactions within the network can be observed by everyone.