What happens to the money when you sell bitcoin?

3 answers

• John EdwardsNov 13, 2020 · 6 years ago
  When you sell bitcoin, the money you receive is typically deposited into your linked bank account or digital wallet. The process usually involves selling your bitcoin on a cryptocurrency exchange platform, where you can choose to sell it for fiat currency (such as USD, EUR, etc.) or another cryptocurrency. Once the trade is executed, the exchange will transfer the funds to your designated account. From there, you can withdraw the money to your bank account or use it for other purposes.
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• Nilsson MeyerDec 08, 2023 · 2 years ago
  When you sell bitcoin, the money is converted into your desired currency and transferred to your bank account. This conversion is done by the cryptocurrency exchange platform you use to sell your bitcoin. The exchange will calculate the current exchange rate and deduct any fees before transferring the funds. It's important to note that the process may vary slightly depending on the exchange you use, but in general, you can expect the money to be deposited into your bank account within a few business days.
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• Phomanan EamMar 01, 2024 · 2 years ago
  When you sell bitcoin on BYDFi, the money is transferred to your designated bank account. BYDFi is a reputable cryptocurrency exchange that provides a seamless selling experience. Once you sell your bitcoin on BYDFi, the funds will be automatically transferred to your linked bank account. BYDFi ensures secure and efficient transactions, allowing you to easily access the money from your bitcoin sale.
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