Bitcoin and climate

Bitcoin uses Proof of Work. That uses electricity. This page describes that energy use; it is not a green claim.

The Bitcoin network secures transactions with Proof of Work. Miners apply computing power; that consumes electricity. Intensity depends on hashrate, hardware efficiency and the energy mix where miners sit. That mix changes and is not controlled by Cryptotrader.

Cryptotrader trades bitcoin on your exchange account. We do not mine and we do not offset emissions. Trading bitcoin does not make you a miner, but the coins you hold sit on a network with this energy profile.

An independent estimate of the Bitcoin network’s electricity use is published by the University of Cambridge: the Cambridge Bitcoin Electricity Consumption Index.