Tommaso
Sat Jul 13 2024
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5 answers
923
What is the exchange flow for BTC miners?
Could you please elaborate on the exchange flow process for Bitcoin (BTC) miners? I'm curious to understand the steps they take from mining the cryptocurrency to ultimately exchanging it for fiat currency or other assets. Specifically, does the process involve mining BTC into a wallet, transferring it to an exchange platform, converting it to a desired currency, and then withdrawing the funds? Are there any specific risks or considerations miners should be aware of during this process? Additionally, how do exchange rates and market fluctuations affect the profitability of BTC mining? I'd appreciate a detailed explanation of the entire flow and any relevant factors that impact miners' decisions.
