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Can anyone explain how crypto exchange deposit works?

Binance

Cryptocoins Exchanges / Binance 136 Views

I've been trying to understand how different exchanges manage their deposit address pool. When you deposit funds to address given by any exchange(FTX, Binance, etc) they immediately transfer that funds to the exchange's wallet. This process cost them gas fees. Are they taking huge losses in user deposits?

If a user deposit $100 via Ethereum Network and withdraw $100 from Solana Network. How exchanges transfer that $100 to exchange's Ethereum wallet?

Also FTX.com is allowing 0 fees on Solana withdrawals, so what are they doing?

submitted by /u/Snoo-7224
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