When you buy bitcoin, who receives the money?

3 answers

• Dec 19, 2021 · 3 years ago
  When you buy bitcoin, the money 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 address is used to receive the funds. Once the transaction is confirmed, the seller can then use the funds as they wish. It's important to note that the transaction may involve fees, such as network fees or exchange fees, depending on the platform used for the purchase.
  490245
• Dec 19, 2021 · 3 years ago
  When you buy bitcoin, the money is transferred to the seller's wallet. The seller can choose to keep the bitcoin in their wallet or transfer it to another wallet or exchange. The transaction is verified and recorded on the blockchain, ensuring its security and transparency. It's important to ensure that you are buying bitcoin from a reputable seller or exchange to avoid any potential scams or fraud.
  402134
• Dec 19, 2021 · 3 years ago
  When you buy bitcoin on BYDFi, the money is received by the seller's wallet address. BYDFi acts as a platform that connects buyers and sellers of bitcoin. The transaction is securely processed on the BYDFi platform and recorded on the blockchain. BYDFi provides a user-friendly interface and ensures the safety of transactions. It's important to conduct thorough research and choose a reliable platform when buying bitcoin.
  423106