Where does the money go when you sell your crypto?

3 answers

• BrodaSep 30, 2022 · 3 years ago
  When you sell your crypto, the money goes to the buyer of your cryptocurrency. The transaction is facilitated through a cryptocurrency exchange or a peer-to-peer platform. The buyer will pay you the agreed-upon amount in traditional currency, such as USD or EUR, and you will receive the funds in your bank account or digital wallet. It's important to note that the exchange or platform may charge a fee for facilitating the transaction.
  437219
• Massih HadaviApr 19, 2024 · a year ago
  When you sell your crypto, the money goes into your trading account on the exchange where you made the sale. From there, you can choose to withdraw the funds to your bank account or keep them in your trading account for future trades. The process is similar to selling stocks or other assets on a traditional stock exchange.
  324108
• Gkdnzx707Aug 01, 2021 · 4 years ago
  When you sell your crypto, the money goes to the buyer's wallet address. The transaction is recorded on the blockchain, which is a decentralized ledger that keeps track of all cryptocurrency transactions. The buyer's wallet address is essentially their digital bank account, and the funds are transferred from your wallet address to theirs. This process ensures transparency and security in cryptocurrency transactions.
  419105