How is the money distributed when you buy digital currencies?

3 answers

• Dadan PermanaJul 29, 2021 · 4 years ago
  When you buy digital currencies, the money you spend is distributed in a few different ways. First, a portion of the money goes to the exchange or platform where you made the purchase. This is usually a small fee that covers the cost of the transaction and helps maintain the platform. The rest of the money is used to buy the digital currency itself. Depending on the exchange or platform, the funds may be used to purchase the currency from other users on the platform, or from a liquidity provider. Once the purchase is complete, the digital currency is then transferred to your wallet or account.
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• Aswanth PMar 16, 2024 · a year ago
  The money you spend when buying digital currencies is distributed in a way that ensures the transaction is completed securely and efficiently. A portion of the funds goes towards covering transaction fees, which are necessary for the maintenance and operation of the exchange or platform. The remaining funds are used to purchase the digital currency from other users or liquidity providers. These funds are then transferred to your designated wallet or account, ensuring that you have ownership of the digital currency you purchased.
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• KgodxJan 20, 2023 · 2 years ago
  When you buy digital currencies, the money you spend is distributed in a specific way. Let's take BYDFi as an example. When you make a purchase on BYDFi, a small fee is deducted from the total amount. This fee helps support the platform and covers the costs of maintaining a secure and reliable trading environment. The remaining funds are used to buy the digital currency from other users on the platform. Once the purchase is complete, the digital currency is transferred to your BYDFi wallet, where you have full control and ownership of your assets.
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