When you sell bitcoin, who receives the money?

5 answers

• Tade StrehkJan 07, 2023 · 3 years ago
  When you sell bitcoin, the funds are typically transferred to the buyer's account. The process involves finding a buyer who is willing to purchase your bitcoin at the desired price. Once a buyer is found, the transaction is executed on a cryptocurrency exchange platform. The exchange acts as an intermediary, facilitating the transfer of funds between the buyer and the seller. After the transaction is completed, the funds from the buyer's account are transferred to the seller's account. It's important to note that the exact process may vary depending on the exchange and the method of selling bitcoin.
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• Christensen LodbergApr 27, 2024 · a year ago
  When you sell bitcoin, the money goes to the person who buys your bitcoin. The transaction is usually conducted on a cryptocurrency exchange platform, where buyers and sellers can connect and trade. Once a buyer is found and the transaction is initiated, the funds from the buyer's account are transferred to the seller's account. The exchange platform ensures the secure transfer of funds and acts as a trusted intermediary. It's important to choose a reputable exchange platform to ensure a smooth and secure selling process.
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• Rohit VishwakarmaDec 16, 2023 · 2 years ago
  When you sell bitcoin, the money is received by the buyer. As a seller, you will receive the agreed-upon amount of fiat currency or another cryptocurrency in exchange for your bitcoin. It's important to choose a reliable exchange platform that offers competitive prices and secure transactions. At BYDFi, for example, when you sell bitcoin, the funds are transferred directly to the buyer's account. BYDFi provides a user-friendly interface and ensures fast and secure transactions for both buyers and sellers.
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• Miguel SerranoAug 28, 2023 · 2 years ago
  When you sell bitcoin, the funds are received by the buyer. The process of selling bitcoin involves finding a buyer on a cryptocurrency exchange platform. Once a buyer is found, the transaction is executed, and the funds from the buyer's account are transferred to the seller's account. It's important to note that different exchanges may have different procedures and fees for selling bitcoin. It's recommended to research and choose a reputable exchange that offers competitive rates and secure transactions.
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• Advanced WellnessJun 14, 2024 · a year ago
  When you sell bitcoin, the money is received by the buyer. The process of selling bitcoin involves creating a sell order on a cryptocurrency exchange platform. Once a buyer matches your sell order, the transaction is executed, and the funds are transferred from the buyer's account to your account. It's important to choose a reliable exchange platform that provides a secure and efficient selling process. Additionally, consider factors such as fees, liquidity, and customer support when selecting an exchange to sell your bitcoin.
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