I was checking my Binance Bitcoin address (where i have been holding some amount for last one year) on blockchain explorers, but it shows that the btc from that address was immediately spent within a few hours of transfer.
Does binance move all the bitcoin to another address and just maintain a balance of my wallet? When moving these funds from my address to their address, does it not incur a charge to them for making this unnecessary transaction?
Fairly new to the cryptocurrency ecosystem and want to understand how things work. Any help would be appreciated