Where does the money go when you sell bitcoin?

3 answers

• ahbiApr 11, 2022 · 3 years ago
  When you sell bitcoin, the money goes to the buyer of your bitcoin. The process works by matching your sell order with a buy order from another user on the exchange. Once the trade is executed, the funds from the buyer's account are transferred to your account. From there, you can choose to withdraw the funds to your bank account or keep them in your exchange account for future trading.
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• Espinoza BernardJul 05, 2022 · 3 years ago
  When you sell bitcoin, the money goes to the person who is buying your bitcoin. It's a simple peer-to-peer transaction where the buyer sends the agreed-upon amount of money to your designated account. The transaction is recorded on the blockchain, ensuring transparency and security. You can then decide what to do with the money, whether it's withdrawing it to your bank account or reinvesting it in other cryptocurrencies.
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• The AhmedNov 23, 2020 · 5 years ago
  When you sell bitcoin, the money goes to the buyer's account. As a decentralized digital currency, bitcoin transactions are recorded on a public ledger called the blockchain. When you initiate a sell order, the exchange matches you with a buyer who is willing to pay the price you set. Once the buyer sends the payment to your designated account, the transaction is confirmed and the funds are transferred. It's important to choose a reputable exchange to ensure a smooth and secure selling process.
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