Can cryptocurrency exchanges see the balance on a ledger?
purva PednekarDec 09, 2021 · 4 years ago3 answers
Can cryptocurrency exchanges access and view the balance information on a ledger?
3 answers
- lidscccAug 30, 2023 · 2 years agoYes, 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.
- Ross UpchurchJan 10, 2025 · 7 months agoAbsolutely! 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.
- amaka ihunwoMay 07, 2025 · 3 months agoAs 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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