What is Bitcoin?

Announced with a manifest written by Satoshi Nakamoto in 2008; became functional on January 3, 2009; Bitcoin, is distinguished with the symbol ฿ and the abbreviation BTC, is a cryptocurrency that does not belong to any central bank or official institution. The maximum number of Bitcoins set by Nakamoto, who designed the system, is limited to 21 million. Bitcoin does not belong to any country and is completely anonymous. For more information on Bitcoin, we recommend you to read the White Paper, which is considered the Bitcoin manifest.

How to Buy Bitcoin?

With its volatility and the price evolution it has gone through since its creation, Bitcoin, which is frequently mentioned, attracts the attention of investment circles day by day. With its increased availability and being seen as an alternative to traditional financial assets, investability becomes equally meaningful.

To perform your Bitcoin buying and selling transactions on the ICRYPEX Cryptocurrency Exchange:

• You can become a member of our site by filling in the name-surname, phone, and e-mail address sections from the “New Account” button.

• After the membership process is completed, the TRY balance must be loaded first from the bank account by clicking on the "Deposit" section, and then either through the bank or the Papara payment system. If you want, you can start your investments by sending your Bitcoin to the Bitcoin wallet you created in the My Assets section.
   
• In the investments you will make through the bank transfer, ICRYPEX Bilişim A.Ş. should be written. Transfers sent with different, incorrect, or incomplete recipient names are rejected by the bank.
   
• The transaction description code in the deposit section should be noted to be written on the receipt. Your transfers are made through current TRY accounts registered in your name.
   
• After the TRY balance is loaded into the wallet, you can enter the "Easy Buy-Sell" page and select the "Easy Buy" button, enter the Bitcoin amount you want to buy and select the exchange price, and buy Bitcoin by placing a purchase order.

How Does the Bitcoin Transfer System Work?

Any BTC transactions performed on the network are recorded in order not to be changed and deleted again. The transaction belonging to any BTC address and the balance obtained from these transactions are recorded visibly by all users. While all this is happening, the user does not have to openly share their personal information in the system. In general, it is possible to operate anonymously at the request of the users.

Technical Features of Bitcoin

Bitcoin users can transfer BTC to any location provided that it is within the network. It is not possible to change or cancel the transactions. Processes take place in seconds; approval by the system varies between 10 minutes and 1 hour. Bitcoin can be divided up to 8 decimal digits. So, a Bitcoin can be transferred in pieces. The transaction cost is either very cheap or free. This is one of the most important aspects that make Bitcoin advantageous outside the existing system.

How to Make Bitcoin Mining?

Bitcoin Mining is a branch where anyone who wants to be a miner can easily participate, encountering an increasing demand from the date of release. As part of the proof of work, Bitcoin miners create blocks with varying difficulty and submit this block for approval. The proof of work is added to the end of the chain. Block creation is done every 10 minutes. The miner, whose work is proven and whose block is made in the chain, given a Bitcoin as a reward. If a block that resolves in less than 10 minutes occurs, it is detected by the system and the difficulty of the block resolution is increased. While Bitcoin mining was done through personal computers at the beginning, today there are some devices produced for mining. These devices increased electricity consumption and became more noisy machines; however, it is also professionalized to solve mathematical operations.

Due to the increase in electricity consumption and device cost, two kinds of solutions have been produced. The first is that miners work together by collectively creating a pool. Another method is the Bitcoin Cloud Mining. System and hardware are rented from an institution that performs Bitcoin mining in cloud mining. Thus, the operating leased company produces Bitcoin for a certain period of time for the investor at a fixed price.