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 ?
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 ?
I think the answer is straightforward depending on the method you used to purchase bitcoin. From your narration, you didn't get any "extra" bitcoin from your purchase so it doesn't appear like Binance created BTC out of thin air and distributed to you. The $3.5 you paid would mostly be the fee you paid for their services and it was charged with your deposit method. Deposits via cards and other methods comes with a fee. There's only a few methods that I know that doesn't included a fee for the service.