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I understand sites like koinex/coinbase/etc.. credit bit coins when we try to buy bitcoins from them.

How do they (koinex/coinbase/etc..) get bitcoins to give it to users when they buy? are they doing mining and getting coins? or do they buy bitcoins from somebody who is mining ?

marked as duplicate by Max Vernon, Pieter Wuille, Highly Irregular, Andrew Chow Nov 29 '17 at 7:00

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No, simply they sell and buy bitcoins. I sell them my bitcoins and you buy from them these bitcoins.

  • Select the answer if it helped. – Adam Nov 28 '17 at 13:37

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