Bitcoin code or exchange voucher - a way to replenish an account or withdraw funds.
The exchange code is a set of letters and numbers. With the help of their combination, a key is created for transferring a certain amount in cryptocurrency or fiat money. When you transfer the key, you transfer the opportunity to transfer to account the amount on which this code was created.
On cryptocurrency exchanges, vouchers are used to transfer funds instantly. Despite the fact that it is the name Bitcoin code or BTC code that is widely used, they can be nominated in completely different currencies. The most commonly used dollar is to minimize exchange losses, or top-end cryptocurrencies - BTC, ETH, LTC and others. Utorg code can also be issued in rubles.
What does the exchange code look like?
Сode looks like:
The first 4 characters are the exchange code, then the international currency symbol and then the voucher code in 40 alphanumeric characters, in which the recharge amount is coded.
How to use the code?
The most common ways to use exchange codes or cryptocurrency vouchers are the transfer of funds from one person to another, payment for goods and services, and instant replenishment of the balance on the exchange.
You can transfer money to someone with the help of exchange code completely anonymously and you do not need to wait for any confirmations on the network, as the operation on the blockchain requires. In the case of codes, the blockchain is not involved. The process of transferring funds takes a few seconds if the recipient already has an account on the exchange.
Replenishment of the balance on the exchange through the code is the easiest, fastest and cheapest way to deposit fiat funds on the exchange. To do this, simply buy the code for the desired amount on one of the online exchangers. You can also perform the reverse operation - issue an exchange code and sell it, for example, for cash.
If you do not follow some precautionary rules, there is a risk of losing money. To avoid this, it is important:
- Keep the exchange code in a safe place, preferably on a "cold media" or offline, copied to paper. Do not store the code on a laptop connected to the Internet.
- Do not transmit the code to unfamiliar services in advance, until the conditions are met.
- Please note that after someone uses the code, you will not be able to find out who has used it and return the money.
- Do not show part of the code - you can pick it up with the help of special programs, it will not take too much time if the robot is engaged in the selection.
Exchange codes are very simple and convenient, but be careful when using them.