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0 pointsthrowaway4good4y ago0 comments

There is no such thing in crypto.

0 comments

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?

wbl4y ago

Crypto 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.

phist_mcgee4y ago

People 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.

overtonwhy4y ago

Derivative coins that might not be so stable after all... https://coingeek.com/tether-reaches-new-lows-in-quest-to-avo...

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