how does crypto exchanges execute trade without paying gas fees?
For example, in binance, every user has their own wallet address for each coin they owned.
let's say I just traded 1 BTC for 1 ETH. If I were to go in my wallet info, I can see it's been immidately reflected. Now, this can easily done by exchange doing their internal data handling things on their own, not neccesarilly having to associate with actual block chain, that part I understand.
What I cant seem to figure out is that when user wants to actually withdraw the fund, they actually let us to withdraw that much amount of coin. and if I check in blockchain exploerer I can see my exchange wallet address as a sender.
So if trading within exchange and wallet balance immediately being reflected upon it were to be acheived by inner data handling, it must mean I don't actually own that coin on my exchange address because it's just an exchange showing me the number. But then if so, how is it possible that I can just withdraw my funds to another wallet (say like metamask).
how are they acheiving two things at once?
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