What happens to the money when you buy bitcoin?

12 answers

• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend goes to the seller of the bitcoin. The transaction is recorded on the blockchain, which is a decentralized ledger that keeps track of all bitcoin transactions. The seller's bitcoin wallet receives the funds, and your bitcoin wallet receives the purchased bitcoin. It's important to note that the money you spend doesn't go to any central authority or institution, but directly to the seller.
  433217
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is used to purchase the bitcoin from someone who is selling it. The transaction is verified and recorded on the blockchain, which is a public ledger that ensures transparency and security. The seller receives the money in their chosen currency, and you receive the equivalent amount of bitcoin in your digital wallet. It's a peer-to-peer transaction, meaning there is no middleman involved.
  432144
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is transferred to the seller's bitcoin wallet. The transaction is confirmed by miners, who validate the transaction and add it to the blockchain. Once the transaction is confirmed, the seller receives the funds, and you receive the purchased bitcoin in your wallet. It's a secure and transparent process that eliminates the need for intermediaries like banks.
  401101
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is transferred to the seller's bitcoin address. The transaction is processed by the network of computers that make up the bitcoin network. These computers, also known as miners, verify the transaction and add it to the blockchain. Once the transaction is confirmed, the seller receives the funds, and you receive the bitcoin in your wallet. It's a decentralized process that ensures the security and integrity of the transaction.
  47195
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is sent to the seller's bitcoin wallet address. The transaction is broadcasted to the network of computers that maintain the bitcoin blockchain. Miners validate the transaction and include it in a block, which is then added to the blockchain. Once the transaction is confirmed, the seller receives the funds, and you receive the bitcoin in your wallet. It's a trustless and transparent process that doesn't rely on any central authority.
  47980
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is transferred to the seller's bitcoin wallet. The transaction is processed by the network of computers that maintain the bitcoin blockchain. Miners compete to validate the transaction by solving complex mathematical problems, and once the transaction is confirmed, it is added to the blockchain. The seller receives the funds, and you receive the purchased bitcoin. It's a decentralized and secure process that ensures the integrity of the transaction.
  49571
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is transferred to the seller's bitcoin wallet. The transaction is processed by the decentralized network of computers that maintain the bitcoin blockchain. Miners validate the transaction and add it to the blockchain, ensuring its security and immutability. The seller receives the funds, and you receive the purchased bitcoin in your wallet. It's a transparent and efficient process that doesn't require any intermediaries.
  46659
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is transferred to the seller's bitcoin address. The transaction is confirmed by the network of computers that maintain the bitcoin blockchain. Miners validate the transaction and add it to the blockchain, which ensures the security and transparency of the transaction. The seller receives the funds, and you receive the bitcoin in your wallet. It's a decentralized and trustless process that eliminates the need for traditional financial institutions.
  49355
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is sent to the seller's bitcoin wallet address. The transaction is processed by the decentralized network of computers that validate and record bitcoin transactions. Miners compete to solve complex mathematical problems to confirm the transaction, and once it's confirmed, it is added to the blockchain. The seller receives the funds, and you receive the purchased bitcoin in your wallet. It's a secure and transparent process that doesn't rely on any central authority.
  51252
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is transferred to the seller's bitcoin wallet. The transaction is verified and recorded on the blockchain, which is a public ledger accessible to anyone. Miners validate the transaction and add it to the blockchain, ensuring its security and immutability. The seller receives the funds, and you receive the purchased bitcoin in your wallet. It's a decentralized and efficient process that doesn't require any intermediaries.
  46643
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is transferred to the seller's bitcoin wallet. The transaction is processed by the network of computers that maintain the bitcoin blockchain. Miners validate the transaction and add it to the blockchain, ensuring its security and transparency. The seller receives the funds, and you receive the purchased bitcoin in your wallet. It's a decentralized and trustless process that empowers individuals to have full control over their money.
  47840
• Dec 24, 2021 · 3 years ago
  When you buy bitcoin, the money you spend is transferred to the seller's bitcoin wallet. The transaction is confirmed by the network of computers that maintain the bitcoin blockchain. Miners validate the transaction and add it to the blockchain, ensuring its security and integrity. The seller receives the funds, and you receive the purchased bitcoin in your wallet. It's a decentralized and transparent process that eliminates the need for intermediaries like banks or payment processors.
  49038