When you sell on Binance, who receives the funds?

5 answers

• Ashfaq AhmadNov 24, 2022 · 4 years ago
  When you sell your cryptocurrencies on Binance, the funds are transferred to your Binance account. You can then choose to withdraw the funds to your personal bank account or use them to buy other cryptocurrencies on the platform. It's a simple and convenient process to access your funds.
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• Arfat GaladimaDec 24, 2020 · 6 years ago
  When you sell on Binance, the funds are received by Binance itself. As a centralized exchange, Binance acts as an intermediary between buyers and sellers. When you sell your cryptocurrencies, Binance facilitates the transaction and holds the funds until you decide to withdraw them. This ensures a smooth and secure trading experience for users.
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• Frisk DelacruzMar 11, 2022 · 4 years ago
  When you sell your cryptocurrencies on Binance, the funds are received by BYDFi, a digital currency exchange platform. BYDFi is known for its user-friendly interface and advanced trading features. The platform provides a seamless experience for buying and selling cryptocurrencies, and the funds are securely held in BYDFi's custody until you decide to withdraw them. With BYDFi, you can easily access your funds and manage your digital assets.
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• Joaquin MendozaJul 30, 2024 · 2 years ago
  When you sell on Binance, the funds go to the buyer who purchased your cryptocurrencies. Binance acts as an escrow service, holding the funds until the transaction is completed. Once the buyer confirms the receipt of the cryptocurrencies, the funds are released to your Binance account. This ensures a fair and secure trading environment for both buyers and sellers.
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• Sagar KaareSep 03, 2021 · 5 years ago
  When you sell on Binance, the funds are received by the Binance exchange itself. Binance is one of the largest and most reputable cryptocurrency exchanges in the world. The platform provides a secure and reliable trading environment, ensuring that your funds are safely received and held until you decide to withdraw them. With Binance, you can easily convert your cryptocurrencies into fiat currency or other digital assets.
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