Bannedjoe
Well-known member
Every now and then I see vendors online who accept or ask for payment in bitcoin.
First off, I'm not an investor kind of guy, but I have had a little curiosity about the whole thing.
I have a question that I can't get the googler to cough up an answer to.
When you make a bitcoin purchase from a broker like coinbase, they put a hold on the coin in your "wallet" for about 12 days for security purposes.
The question is, say you put $200 into bitcoin.
The broker holds it for 12 days.
Does the coin retain its value during that period since you can't touch it?
Or, if the bitcoin value goes up, does my balance go up, or remain the same?
Might it remain the same, and the broker keeps the profit if I go to use it?
Or if the coin crashes and burns, does my account take the hit, or is my money still secure?
Sorry if I sound dumb.
First off, I'm not an investor kind of guy, but I have had a little curiosity about the whole thing.
I have a question that I can't get the googler to cough up an answer to.
When you make a bitcoin purchase from a broker like coinbase, they put a hold on the coin in your "wallet" for about 12 days for security purposes.
The question is, say you put $200 into bitcoin.
The broker holds it for 12 days.
Does the coin retain its value during that period since you can't touch it?
Or, if the bitcoin value goes up, does my balance go up, or remain the same?
Might it remain the same, and the broker keeps the profit if I go to use it?
Or if the coin crashes and burns, does my account take the hit, or is my money still secure?
Sorry if I sound dumb.