Bitcoin Forum

Maybe one stupid question but how exchanges like Bitrexx works? Do you sell your coin to exchange or directly to buyer? If coin reach very high price, can I always sell it?  ???

It is not a stupid question. You exchange with other users and the exchange takes a commission. Exchanges do make offers too.

think of exchanges as Auctions. but instead of everyone buying there are two groups. 1 group selling and the other buying the same thing.

when you have something to sell, you place a sell order and "ASK" for an amount you think is fair in return. aka placing orders.
or you can just look who is buying and sell it directly to them. aka sell to the highest bidder.

when you want to buy something, you place a buy order and "BID" for it in an amount that you think is fair.
or the same here you can find who is selling and buy from them at a higher price.

an exchange is just a platform that helps these people meet each other and make the trades fast and easy. and takes a fee for providing that platform for them.

It is not guaranteed. It depends on how much 'buy' volume is there (how many people are ready to buy that coin at that price).

For example: A coin reaches $5 price. You want to sell your coins at this price and you put a sell order. Let's assume there are 120 other people who have placed a sell order before you at same price. So if someone is buying at $5, the coins of those 120 people will be sold first. And then it will be your turn. If someone stops buying before your turn arrives, your coins will remain unsold. So it's a game of how much 'buy volume' is there.

So, if I buy Waves for let's say 1000 dollars and then will Waves reach price 50 or 100 dollars. Who is going to buy Waves at this price? I am really worried now.

It's a free market. There is no 'guarantee' that you will be able to sell or buy something. It all depends on supply and demand. If Waves reaches from 1000 to 50, the people who believe Waves is a great asset and $50 price is a good bargain will buy them. If the coin is doomed and nobody believes in it, you will be holding those Waves with you for uncertain amount of time. That's how the market works.

Must I sell everything in one amount? Let's say I want to sell 200 Waves and split selling in two or three parts.

Of course you can sell any amount. You can even sell 0.5 Waves or 0.0001 Waves. Most of the coins are divisible up to 8 decimals.