How technically cryptocurrencies exchange takes place on the crypto-exchange

Started by ShreeVaghani, Jul 22, 2022, 03:20 AM

Previous topic - Next topic

ShreeVaghaniTopic starter

If I change on the crypto-exchange (EXMO, Livecoin) . I have funds at my Bitcoin account, and it need to be exchanged for Monero, how does the exchange technically work?
.Bitcoin funds from my account are transferred to other account, who buys, and he transfers funds from his Monero account to my Monero wallet? .
What is the chain for such exchange? Do I understand correctly how it happens?


You understand everything correctly. But you still need to check details with the exchange on which the crypto-exchange will be made.

In such case, we are talking about your internal exchange wallets. What and how happens to them in the process of exchanging cryptocurrencies - the administration of the crypto-exchange will answer you in all details (maybe ..).