user131436: I was wondering if I buy or sell something on the exchange if coins are actually transfered somewhere of if the exchange just changes values of what belongs to me.

user41313: No, when you buy Bitcoin from an exchange, it is not an on-chain transaction, the exchange simply updates your account balances in their database.
It only becomes an on-chain transaction when you either deposit or withdraw Bitcoin to or from a Bitcoin address, from your exchange account.

131436: <p>I was wondering if I buy or sell something on the exchange if coins are actually transfered somewhere of if the exchange just changes values of what belongs to me.</p>
 41313: <p>No, when you buy Bitcoin from an exchange, it is not an on-chain transaction, the exchange simply updates your account balances in their database.</p>
<p>It only becomes an on-chain transaction when you either deposit or withdraw Bitcoin to or from a Bitcoin address, from your exchange account.</p>
