Where does the money go after you sell your digital assets on a crypto trading platform?

3 answers

• GeshboiSep 10, 2022 · 3 years ago
  When you sell your digital assets on a crypto trading platform, the money typically goes to your trading account. From there, you can choose to withdraw it to your bank account or keep it in your trading account for future trades. It's important to note that the exact process may vary depending on the specific trading platform you use. Some platforms may offer instant withdrawals to your bank account, while others may require a manual withdrawal request. Always make sure to familiarize yourself with the withdrawal process of the platform you are using to ensure a smooth transaction.
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• Magnified EntertainmentSep 03, 2020 · 5 years ago
  After you sell your digital assets on a crypto trading platform, the money goes to the platform's escrow account. This account acts as a temporary holding place for the funds until the transaction is completed. Once the transaction is confirmed, the money is then transferred to the buyer's account. If you are the buyer, the money will be deducted from your account balance and transferred to the seller's account. It's important to choose a reputable and secure trading platform to ensure the safety of your funds during this process.
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• Prashanth ChowdaryOct 20, 2024 · 9 months ago
  After you sell your digital assets on a crypto trading platform, the money goes to the platform's designated wallet address. This wallet address is controlled by the platform and is used to store and manage the funds of all the users on the platform. The platform will then update your account balance to reflect the sale, and you can choose to withdraw the funds to your personal wallet or keep them on the platform for future trading. It's important to note that different platforms may have different wallet systems, so make sure to understand how the platform you are using handles the storage and transfer of funds.
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