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What is Bitcoin transaction?

In the traditional system of a transaction we go to the bank to make payment and the bank has to make sure that we have enough money in our account before the transaction is authorized. If there is not enough money the transaction won’t go through. In the case of Bitcoin transaction is done in an open ledger.
This is how it works. Before Bitcoin transaction can take place, Bitcoin user must first have Bitcoin wallet. A Bitcoin wallet is secured on the blockchain and which allows users to safely send and receive cryptocurrency. A transaction is the transfer of coins from one Bitcoin wallet to another Bitcoin wallet.

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