Ledger Nano S - The secure hardware wallet

How Bitcoin is being transferred?

How Bitcoin is transferred

A Bitcoin transaction is encrypted and digital. The transaction is signed by the sending/outgoing wallet.

Then it is broadcasted on the internet and listed on the Block Explorer log that keeps track of all bitcoin transactions.

This log is divided into blocks. Once a block is locked (in average every 10 minutes) the actual transaction takes place.

It is recommended to wait until there are at least 2-3 confirmations in order to ensure a bitcoin transaction.

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