What does bitcoin do with your money?
Answer: The seller of bitcoins gets the money.
The bitcoins are transferred from one person’s bitcoin wallet to another. The transfer is done with a peer-to-peer system, so there are no banks involved in these transactions, which means that you can buy or sell something without telling them who you are or giving out your personal information.
Answer: When you buy bitcoin, the seller gets the money. The buyer gets a digital asset called a bitcoin.
Bitcoins are held in digital wallets and can be used to purchase goods and services from businesses that accept them. Bitcoin payments are processed by a decentralized network of computers across the globe. Bitcoins are not backed by governments or central banks, and their value is determined by supply and demand.
Where does bitcoin money go?
Answer: when you buy bitcoin the money goes to exchange first they charge a minimal transaction fee and the remaining money goes to the seller where you buying from.
When you buy bitcoin, the seller gets the money. It’s generally thought that most of the early buyers of bitcoin were speculators – people who were buying it not because they wanted to use it as a currency, but because they thought its value would go up. So the people who got rich from bitcoin were not those who sold it, but those who bought it early and held on to it..