Labumi
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April 23, 2016, 01:14:32 PM |
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the Exchange is a place to do a deal that can be done by everyone. And exchanges have people who want to buy and sell well at the site of Bitcoin/all digital currencies. All such exchanges already exist in economic theory and some exist in a mathematical theory, so if you want to learn about the Exchange you can discuss it to economists in order to gain maximum knowledge and can start Exchange
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Jeremycoin
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𝓗𝓞𝓓𝓛
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April 23, 2016, 01:36:14 PM |
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I think they earn the coins by buying it from a miner, or maybe they mined it themselves. But I think, they probably buy it from someone.
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faucet used to be profitable
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SFR10
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April 23, 2016, 02:53:46 PM |
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My answer is going to be purely base on the visit I made to a local exchange office in where I'm residing: (From my discussion with the owner of the exchange)
Exchanges do have a mining farm in which (in my case, it was a small mining farm) they use it to fund their main addresses with and also have a backup option that they make contracts with some other miners in which they get an additional fee, whenever funds from their mining activities were used, for instance, the exchange I'm talking about, asked for 2% fee from everyone and they give 0.5% (additional fee) fee to miners (excluding the amount they exchange to fiat) whenever their addresses where used for an exchange transaction. Their (backup miners) limited to 6 month contracts.
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amacar2
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April 23, 2016, 03:02:31 PM |
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Bitcoin users get Bitcoins by exchanging them for fiat at exchanges but where do the exchanges get bitcoins from ?
This question came to my mind after frequent cases of YoBit's Signature Campign wallet getting dry !
Exchanger works in both way and called trading that mean one person will sell bitcoin for fiat and another buy that bitcoin for his fiat and exchanger take some of those coin as fee. So quite confused about what is your actual question.
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mkc
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April 23, 2016, 03:07:44 PM |
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Exchanges a good one only a places where customers do exchange. One customer has fiat, another one has Bitcoin, each has a exchange rate in mind, when they match, then there is a trade. It is exchzngd's job to bring these two persons together. Exchange also act like a escrow, when a user says he has 5k Bitcoin for sale, the user has to transfer the Bitcoin to exchange's account. This way exchange make sure when price agree upon, always a trade. This is still user's bitcoin,but exchange can transfer the coins to personally account, and claim being hacked etc.like gox.
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tn211
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April 23, 2016, 03:14:51 PM |
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Exchanges a good one only a places where customers do exchange. One customer has fiat, another one has Bitcoin, each has a exchange rate in mind, when they match, then there is a trade. It is exchzngd's job to bring these two persons together. Exchange also act like a escrow, when a user says he has 5k Bitcoin for sale, the user has to transfer the Bitcoin to exchange's account. This way exchange make sure when price agree upon, always a trade. This is still user's bitcoin,but exchange can transfer the coins to personally account, and claim being hacked etc.like gox.
Exactly. Most of the coins they hold or not theirs. So what we have seen in the past exchanges getting hacked. Were just excuses to run away with investors money. If you will use an exchange, double check if they can be trusted.
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Rude Boy
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April 23, 2016, 03:59:11 PM |
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On the other hand while you buy some coins, somewhere someone else will sell his coins. OR they'll get some bitcoins by mining. OR they (may be the owner of that exchange website) might get some bitcoins by some local traders and he hold it until he open an exchange?
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MaxTax
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April 23, 2016, 04:09:14 PM |
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On the other hand while you buy some coins, somewhere someone else will sell his coins. OR they'll get some bitcoins by mining. OR they (may be the owner of that exchange website) might get some bitcoins by some local traders and he hold it until he open an exchange?
Nah most of the time the owners hold a small leverage for high withdrawals but overall they start with less capital and user deposits start to grow Until they got enough leverage to payout perhaps 80% of the funds in case of an emergeny.
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The Sceptical Chymist
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April 23, 2016, 04:28:47 PM |
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I would imagine places like wesellcrypto and Circle buy their own, maybe on other exchanges. Not sure about coinbase. Other exchanges just get it from customer trades, as others have said.
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ricardobs
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April 23, 2016, 07:59:40 PM |
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Bitcoin users get Bitcoins by exchanging them for fiat at exchanges but where do the exchanges get bitcoins from ?
This question came to my mind after frequent cases of YoBit's Signature Campign wallet getting dry !
At exchanges a lot of people are selling and buying bitcoins and other currencies for their businesses and other usage etc, and with this the exchanges have their fees and other cut up at there, so in this way they get some bitcoins by providing us the service.
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jackg
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https://bit.ly/387FXHi lightning theory
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April 23, 2016, 08:03:35 PM |
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Bitcoin users get Bitcoins by exchanging them for fiat at exchanges but where do the exchanges get bitcoins from ?
This question came to my mind after frequent cases of YoBit's Signature Campign wallet getting dry !
These are from exchange fees that are imposed on users. Yobit offer trades with a 0.2% both way fee. Some sites like YObit also act basically as an escrow service as a iddle man of two transactions.
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erikalui
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April 23, 2016, 08:13:27 PM |
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Every exchange is different. While some have users placing a buy and sell order (example Localbitcoins), other individual exchange websites get bitcoins by trading themselves and other big exchange websites like virwox might be getting coins from big traders as they buy in bulk. Sometimes they too run out of coins and hence they delay the withdrawals (Eg: Payza).
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Whosdaddy
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April 25, 2016, 02:37:13 PM |
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On exchange user1 trades bitcoin for money that user2 has. You do not trade WITH exchange....exchange is just a place where youers trade.
Yes, at there you buy a currency when someone sell it , it is not directly available at the exchange, but still there are some exchanges where you do exchange with the exchanger, at there the exchanger get bitcoin when someone sell it or they buy bitcoin to availthe service for their members.
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DimensionZ
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Shit, did I leave the stove on?
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April 25, 2016, 02:46:25 PM |
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Exchanges are peer to peer platforms where users exchange fiat for Bitcoin and vice versa. I don't think the Bitcoin exchanges need a lot of backing up by investors and a big starting capital to operate because everything is being deposited and withdrawn by the users and the exchanges are only profiting from the withdrawal fees.
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maokoto
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April 25, 2016, 02:54:41 PM |
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I suppose they get Bitcoins from user fees and perhaps some altcoin selling to users too (if the exchange does mine). Probably some do mine too.
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RodeoX
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April 25, 2016, 03:10:17 PM |
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Most exchanges just connect people who have coins for sale with buyers. They facilitate the trade and may not require many coins themselves.
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dearbesz
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June 18, 2016, 11:43:50 AM |
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where do exchange get Bitcoins? most of the exchanges get their bitcoin on every transaction who join in the exchange flatform whether there gonna buy or sell Bitcoins.
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Hellacopter
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June 18, 2016, 11:50:49 AM |
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Most likely the exchanges buy their bitcoins and then they get some earning from the exchange transactions usually. I think the most part of the exchangers use this method nowadays.
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pandalion98
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June 18, 2016, 12:46:44 PM |
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I think they get an initial amount from some private/public investors and some from their own pockets.
After that, they earn from transaction fees from the site. Some have fee-per-trade, some have withdrawal fees, etc. You know what I mean.
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bitcoineverything
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June 18, 2016, 01:49:58 PM |
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Probably from bigtime miners who invest on bitcoin startups such as exchanges and also probably from owners of established btc startups who wanted ti extend their funds to other ventures.😄
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