"How are Bitcoin transactions done?"

[HOPE25]

Hi! I am a new member of Bitcoin. I am more curious to know about Bitcoin in the discussion of Bitcoin on various websites. As far as I know,
-Bitcoin is a digital currency or cryptocurrency. Which has no central system to control. This currency is used for online financial transactions. Now my question is-
How is Bitcoin transaction done?
I would like to hear different opinions to help me understand better. Thanks!

[BlackBoss_]

Hi! I am a new member of Bitcoin. I am more curious to know about Bitcoin in the discussion of Bitcoin on various websites. As far as I know,
-Bitcoin is a digital currency or cryptocurrency. Which has no central system to control. This currency is used for online financial transactions. Now my question is-
How is Bitcoin transaction done?
I would like to hear different opinions to help me understand better. Thanks!

You can learn from many available resources.
Bitcoin transactions for beginners from Learnmeabitcoin.org
About Bitcoin transactions in Mastering Bitcoin book.

If you send small fund, you can do whatever you want as risk is small but if you are doing a transaction for big fund, you must be more careful and pay more attention on confirmations of your transaction.
How many Bitcoin confirmations is enough?

[_act_]

You will need to get a bitcoin wallet first. Example is Electrum or Bluewallet. You can first use Bluewallet because it is simpler to understand. These are their official sites:

https://bluewallet.io/
https://electrum.org/

Generate a wallet, which you can do easily. Backup your seed phrase which is 12 to 24 words. Backup the seed phrase offline and make sure you have like two backups in different places.

After you have created the wallet, click on it which should be in blue, then you will see receive and send. Click on receive, send the bitcoin address to someone you want to buy bitcoin from. If the person send you coin, you will see it there after some minutes.

If you want to send coin, press on send instead of receive, set the fee and send. You can use https://mempool.space/to know the best fee for you.

You can first learn how to buy bitcoin on exchanges which I think is a good idea if your country allow exchanges.

Do not let anyone know about your seed phrase because it is what that is need to recover your coins and spend it.

[knowngunman]

Now my question is-
How is Bitcoin transaction done?

My question is, Do you have Bitcoin?

If yes, how did you receive it? And if No, then you shouldn't be bother yet on how it's transaction is done.

Although, Bitcoin transaction is almost similar with Bank transaction (if you are familiar with banking transactions) but it uses blockchain for it transactions. You need a receiver's wallet address just the same way you'll need account number when sending money through Banks if you're the one initiating the transaction.

The process is very simple. Go through _act_ reply for details explanation on how to set up your wallet and carry out transaction. Pay extra attention to the last part, because Not your Keys, Not your coins.

[Su-asa]

Hi! I am a new member of Bitcoin. I am more curious to know about Bitcoin in the discussion of Bitcoin on various websites. As far as I know,
-Bitcoin is a digital currency or cryptocurrency. Which has no central system to control. This currency is used for online financial transactions. Now my question is-
How is Bitcoin transaction done?
I would like to hear different opinions to help me understand better. Thanks!

First of all you are welcome to the forum, I believe that you have gotten enough important information that will help you to know more about Bitcoin. Actually before you start your Bitcoin investment you should know more about the forum because this is a Bitcoin forum where you can learn about various things about crypto currency. The crypto space is very big and will be risky when you don't know what you are doing. Between crypto trading and crypto investment, I suggest you chose the investment because that's less risky. Although, it depends on the coin that you are investing into. Actually Bitcoin is the safe investment and you get profits when you do it for long term.

[Orpichukwu]

And if No, then you shouldn't be bother yet on how its transaction is done.

The OP shouldn't bother; that does not mean there is no need to bother either. Learning about something even before acquiring it helps the person to avoid mistakes when they are finally ready to hold or communicate with it.

Although, Bitcoin transaction is almost similar with Bank transaction (if you are familiar with banking transactions) but it uses blockchain for it transactions. You need a receiver's wallet address just the same way you'll need account number when sending money through Banks if you're the one initiating the transaction.

It's similar with banking transactions, but there is also a big difference between both, since a banking transaction can easily be reversed due to a network glitch after showing as successful; it can't be seen and verified in public as well, not like bitcoin transactions, which are transparent and, as an alternative currency, offer a better solution.

[Catenaccio]

You will need to get a bitcoin wallet first. Example is Electrum or Bluewallet. You can first use Bluewallet because it is simpler to understand. These are their official sites:

https://bluewallet.io/
https://electrum.org/

They are two of best Bitcoin wallets and recommended by many Bitcoin experts.
https://learnmeabitcoin.com/beginners/wallets/

Generate a wallet, which you can do easily. Backup your seed phrase which is 12 to 24 words. Backup the seed phrase offline and make sure you have like two backups in different places.

With non custodial wallets, download and verify them first. When you generate your wallets, do it offline.

I agree with your note on wallet backkup and there is a very helpful guide on it too. How to backup a seed phrase?

[Darker45]

Answers to this question aren't opinions. As such, they shouldn't be different from one person to another.

Anyway, a Bitcoin transaction happens when a user initiates one. He/she must have a wallet, first and foremost, from which he/she sends a certain amount to an address provided by the receiver. Through his/her wallet, the user signs the transaction. The signed transaction will then be broadcast to the network. Nodes receive and validate it. The validated transaction will then be included in a block by miners. The miner who wins in the PoW computational competition will broadcast the block to the network. He/she gets a reward as a result. The block is then added to the blockchain and the transaction confirmed. The receiver now has the Bitcoin.

[Patikno]

Hi! I am a new member of Bitcoin. I am more curious to know about Bitcoin in the discussion of Bitcoin on various websites. As far as I know,
-Bitcoin is a digital currency or cryptocurrency. Which has no central system to control. This currency is used for online financial transactions. Now my question is-
How is Bitcoin transaction done?
I would like to hear different opinions to help me understand better. Thanks!

Well, actually if you are really curious about how Bitcoin transactions occur, then you can find an explanation in this forum, and some users have also given their references regarding your question. But it seems like you are still relatively new, and still do not understand at all about it, so I will give my references, and to make it easier I will give 2 references, a simple explanation and a complicated one, please see below:

Youtube - What Are Bitcoin Blocks and Bitcoin Confirmations ? The Simple one

Youtube - But how does bitcoin actually work? The Complex one

[SilverCryptoBullet]

Well, actually if you are really curious about how Bitcoin transactions occur, then you can find an explanation in this forum, and some users have also given their references regarding your question. But it seems like you are still relatively new, and still do not understand at all about it, so I will give my references, and to make it easier I will give 2 references, a simple explanation and a complicated one, please see below:

Youtube - What Are Bitcoin Blocks and Bitcoin Confirmations ? The Simple one

Youtube - But how does bitcoin actually work? The Complex one

Newbies need to start with something simple and easy to understand that is more meaningful and motivational for kicking them off.

Something were shared already and nobody share this simple Bitcoin explained from Jameson Lopp. This visual Bitcoin explanation contains very fundamentals on Bitcoin including Bitcoin transactions.