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I haven’t traded in crypto so please take it with a grain of salt. If someone is selling BTC for USD then someone is doing the same in the other direction. Fro
by vishnugupta 5y ago
I haven’t traded in crypto so please take it with a grain of salt.
If someone is selling BTC for USD then someone is doing the same in the other direction. From Gameshop saga we do know that USD takes time to travel between different parties, in this case from buyer to coin base and then from coin base to seller. Unless USD payment is instantaneous there will be some form of T + 1 isn’t it? What am I missing here?
- phist_mcgee 5y agoPeople trade derivative coins such as USDC, USDT and BUSD that pair with coins such as BTC or ETH. These are basically stable coins that track the USD. Therefore trades are nearly instant. Withdrawing USD from the platform involves selling your derivate coins for fiat.
- overtonwhy 5y agoDerivative coins that might not be so stable after all... https://coingeek.com/tether-reaches-new-lows-in-quest-to-avoid-being-audited/ https://coingeek.com/tether-reaches-new-lows-in-quest-to-avo...
- wbl 5y agoCrypto exchanges have thr crypto and the fiat posted by customers ahead of time. Settlement is instant, it's withdrawal that takes time on the USD side. In stocks the various broker dealers are essentially loaning each other the money and stock and sorting it out in three days.