Crypto Currents

Discussion in 'Free Thoughts' started by Saint, Mar 6, 2022.

  1. James R Just this guy, you know? Staff Member

    Wait. I'll just check with our resident digital currency experts and get back to you. Sciforums, after all, is nothing if not a site for learning how to buy, sell and trade digital currencies. You've definitely come to the right place with your questions! Stay tuned.
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  3. RainbowSingularity Valued Senior Member


    US cryptocurrency expert jailed for helping North Korea evade sanctions

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  5. Sarkus Hippomonstrosesquippedalo phobe Valued Senior Member

    Coinbase and Binance are primarily exchanges. That is, they facilitate peer-to-peer trading. When you want to buy, they link you to someone willing to sell at the same price, and they take a small cut of the trade value (from both the buyer and seller).
    They do own some BTC themselves (I think Coin own c.5,000 BTC or so) but that's really just a float. If you buy some direct from them (at a higher fee), they will then buy BTC from someone else. So the end result is much the same as a more direct exchange, but more expensive for the buyer/seller as they're both trading directly with Coinbase / Binance rather than between each other.
    Hope that answers your question.
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