What happens when you sell in Bitcoin?
Depending on the payment option, the seller of the Bitcoin may receive a transfer directly to their bank account or card, a wire transfer, or an agreement to receive funds to some of the popular traditional payments platforms.
When you sell Bitcoin How do you get paid?
Sell bitcoin in four ways: exchanges, P2P trades, ATMs or in-person trades. Withdraw your money as cash, transfer into your bank account or through a third-party platform. Check the transaction fees for the specific method and service you're using.
Where does the money go to when you buy Bitcoin?
The money goes to the brokerage house or exchange through which you are buying Bitcoin or BITS. Buying a bitcoin is simply like a general exchange of currency (like USD-GBP) except the fact that money resides in your bank account and bitcoin in bitcoin wallet.
Do you lose money when you sell Bitcoin?
Trading can lead to big gains in Bitcoin, but it's not without risk. In fact, the movements in the price of Bitcoin are so great that it's very easy for even experienced traders to get whipsawed and lose a lot of money. Trading Bitcoin poorly is therefore probably the easiest way to lose money in Bitcoin.