Can cryptocurrency exchanges see the balance on a ledger?

3 answers

• May 05, 2022 · 3 years ago
  Yes, cryptocurrency exchanges can see the balance on a ledger. When you deposit funds into an exchange, your balance is recorded on the exchange's internal ledger. This allows the exchange to keep track of how much cryptocurrency you have available for trading. However, it's important to note that the exchange only sees the balance associated with your account on their platform, not your entire cryptocurrency portfolio.
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• May 05, 2022 · 3 years ago
  Absolutely! Cryptocurrency exchanges have access to the balance information on their internal ledgers. This is necessary for them to accurately display your account balance and allow you to make trades. However, it's important to remember that the ledger information is specific to the exchange you are using. Other exchanges or individuals cannot see the balance on a ledger unless they have access to that specific exchange's data.
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• May 05, 2022 · 3 years ago
  As a representative of BYDFi, I can confirm that cryptocurrency exchanges do have visibility into the balance on their ledgers. This is essential for them to provide accurate account information and ensure the smooth operation of their platforms. However, it's worth noting that while exchanges can see the balance on their ledgers, they do not have access to the balances on other exchanges or external wallets.
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