Who gets the money when you buy Bitcoins?

Question

Before investing in cryptocurrencies, i would like to know the basic understanding of who will get the money when i invest in bitcoins to buy it?

in progress 0
cryptic 3 months 1 Answer 65 views 0

Answer ( 1 )

  1. The money goes to the person or the exchange that sold you the Bitcoin.

    The person who sold it might be thinking that the price will drop, or they might want to buy something and need dollars (or whatever currency you used to buy Bitcoin) to pay for it.

    They might have mined the Bitcoin, which means they created it through a computer program. If this sounds like “money for nothing” you have an understanding of mining.

Leave an answer

Browse
Browse

By asking your question, you agree to the terms of service and Privacy Policy.