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Who benefits from the money when you sell bitcoin?

avatarHartvigsen FriedrichsenDec 24, 2021 · 3 years ago3 answers

When you sell bitcoin, who are the parties that benefit from the money? What happens to the money? How is it distributed?

Who benefits from the money when you sell bitcoin?

3 answers

  • avatarDec 24, 2021 · 3 years ago
    When you sell bitcoin, the primary party that benefits from the money is the seller. The seller receives the funds from the buyer in exchange for the bitcoin. The money can then be used for various purposes, such as purchasing goods and services, investing in other assets, or simply holding onto as cash. It is up to the seller to decide how they want to use the money they receive.
  • avatarDec 24, 2021 · 3 years ago
    In addition to the seller, other parties that may benefit from the money when you sell bitcoin include cryptocurrency exchanges and payment processors. These intermediaries facilitate the transaction between the buyer and seller, and may charge fees for their services. The fees collected by exchanges and payment processors contribute to their revenue and help cover operational costs.
  • avatarDec 24, 2021 · 3 years ago
    When you sell bitcoin on BYDFi, the money goes directly to your account on the platform. BYDFi acts as a trusted intermediary, ensuring a secure and efficient transaction. Once the money is in your BYDFi account, you can choose to withdraw it to your bank account or use it for trading other cryptocurrencies. BYDFi provides a user-friendly interface and a wide range of trading options to enhance your trading experience.