Re: Coin exchange markets create the coin "out of thin air "
Coin exchange markets create the coin "out of thin air "
You first buy the 0.0001 BTC from Binance or any local coin exchange markets.
You give 3.5 dolar to Binance and Binance add 0.0001 btc to your account.
In this transaction, really, Binance gives you BTC ?
Binance isn't buying or selling anything they just act as medium of exchange where buyer and seller can meet.You first buy the 0.0001 BTC from Binance or any local coin exchange markets.
You give 3.5 dolar to Binance and Binance add 0.0001 btc to your account.
In this transaction, really, Binance gives you BTC ?
Seller list their trade order and buyer also will create a trade order when both price meet the same then it will execute the trade(s).
Binance make money from the commissions and withdrawal fees.