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Moving around Bitcoin is very easy, but in the background an important part of moving and storing Bitcoin involves something called a ‘private key’. The easiest way to understand private keys is to think about an old-fashioned mailbox system: Let’s…

There is often public misconception that Bitcoin is mostly used by criminals, but nothing could be further from the truth. This is mainly because many people think Bitcoin is anonymous, when in fact it’s the opposite – all Bitcoin transactions…

Many people wonder how the price of Bitcoin is calculated, but it’s important to remember that it works no different than it would with other currencies or objects. Let’s first look at how the prices of most things are derived…

ICO The most well-known form of crypto funding is the Initial Coin Offering (ICO). This is where a new project can raise funds by selling their own cryptocurrency tokens. Each token is essentially the blockchain equivalent of a share in…

An Initial Coin Offering (ICO) and an Initial Public Offering (IPO) are both ways for projects to publicly raise funds. IPOs tend to be for more established and mature companies. There are far stricter rules around IPOs and stronger accountability….

A peer-to-peer (P2P) network is a group of 2 or more devices – for example, mobile devices, computers or even printers – that are set up in such a way that they can share certain data with each other. There’s…

Where fiat currencies are issued by central banks, new Bitcoins are “issued” to miners via a block reward for solving a block. They do this by using special hardware to solve a complex computational problem, which produces a seemingly-random 64…

The blockchain is a shared public ledger and transactions can be viewed by anyone. There are a number of websites, called blockchain explorers, that visualise transactional data from the blockchain. All transactions that have ever occurred on the blockchain are…

A trading pair is a function whereby you have two different currencies that can be traded between one another. When buying and selling a cryptocurrency, it is often swapped with local currency. For example, If you’re looking to buy or…

In order to understand the hash rate and its functions, you first need a basic understanding of Bitcoin mining. Bitcoin mining is a computerised process with three main functions: Issue new Bitcoins Confirm transactions Ensure the Bitcoin network remains secure…

A dollar is divided into 100 cents, a pound is divided into 100 pence, a Yuan is divided into 10 jiao and a jiao is divided into 10 fen… so what’s a Bitcoin divided into? A Bitcoin is divided into…

A blockchain is an ongoing record of transactions – a distributed database that is secured by a network of nodes and miners. Blockchains are usually public – for example, the Bitcoin blockchain. In a public blockchain, all transactions are publicly…