Bitcoin is a digital currency that’s anonymously transferred between persons (peer-to-peer). Bitcoin is a crypto-currency (cryptographic) that is generated through digital mining. Mining is the process of your computer (via graphics card or CPU) solving very complex math equations, or guessing very long numbers. The first computer to get it right receives a block reward of Bitcoin. The block is a pre-determined amount of coins that is awarded to the winner. Multiple people can win this bounty by participating in a mining pool – a network of computers all mining together. If one of the computers in a pool guesses the correct number, the pool will split the reward between all members based on participation and contribution. There are those who do not participate in a mining pool, and they typically have a very large amount of computers (processing power) to increase their chances of finding the next block. Sometimes they rent mining power, though it’s questionable whether or not it would be better to have simply purchased Bitcoin instead of mining power. Open a free Account Start trading on Bitcoin Click Here