Are trades done on exchanges added to blocks? Or are they only added once you withdraw the funds to your own wallet? If this is the case, how does the exchange decide on transaction fees?
Based on the above posts the answer to the first question seems to be "no". Most exchanges seem to work off-block. Now, is it possible that as a buyer one may be buying bitcoins that don't actually exist? How is this controlled?
If I misunderstood and all transactions made on exchanges are confirmed into a block, who sets the fees?
Any good articles or pieces out there to learn about the work behind the scenes of exchanges? I can't seem to find anything that addresses this.