From the very moment of their launch, EXMO exchange codes have been one of the most popular tools for transferring assets on the crypto market. This was due to the tool's novelty and convenience on the market then. The codes were actively sold through exchanges, which was extremely profitable.
In autumn 2020, due to regulators' requirements, EXMO changed this instrument's structure. The name — from EX-CODE to EXMO Gift Card — and the content were altered. Let's consider the differences between ordinary users and what the mechanism of use now looks like.
Difference between the old codes and the new "gift cards"
In working with cryptocurrency, no changes have occurred. Users can still create and activate codes in the same way. On how to do this, we will tell you a little below.
As for fiat currencies (rubles, dollars, etc.), such codes could initially be activated but not created. Only special licensed exchangers could generate them. A trader buys a code through an exchanger and starts it on the exchange to receive funds to the account.
The Exchange certifies exchangers based on the data they provide.
The changes were made in connection with the recommendations of FATF, the international group responsible for financial measures against money laundering.
EXMO BTC Codes
BestChange makes finding exchangers that send or accept EXMO bitcoin codes easy. Select EXMO BTC as a sending or receiving option in the "Crypto Exchange Balances" subsection on the left, followed by the second payment direction, and you will immediately see all exchangers working with these instruments on the right.
Choose the most suitable one by rate and other parameters, go to the site and make the exchange. In case of purchase, you will receive an extended numeric-letter code in which the required amount of BTC is encrypted. You need to activate it on the exchange. You must first generate the EXMO code yourself if it is a sale.
How to create an EXMO Gift Card for Bitcoin:
- Authorise on the exchange and undergo verification — a prerequisite for any financial transactions (FATF requirement).
- Go to the "Wallet" section.
- Find Bitcoin (BTC) and click "Withdraw" before it. Of course, you must have cryptocurrency on your account.
- Select the withdrawal method — EXMO Gift Card.
- Enter the withdrawal amount.
- If necessary, specify the recipient's login. A name code can only be activated by the person for whom it is intended (or the creator). Therefore, there is no danger even if it falls into the wrong hands.
- Confirm the operation by e-mail or another method of two-factor authentication.
How to activate EXMO Gift Card for Bitcoin:
- Go to the "Wallet" section and click "Refill" next to bitcoin.
- Select the deposit method — EXMO Gift Card.
- Paste the received code into the field.
- Click "Load Gift Card", and the funds will instantly appear on the exchange balance.
Please note that there is a minimum and maximum amount for transferring in this way, specified directly in the code creation window.
EXMO BTC Codes are an instant, convenient way to transfer money to or from the exchange account without commission. At the same time, operations are strictly within the law, as required by regulatory authorities. The disadvantages include the lack of anonymity - work with EXMO is possible only after passing identity verification. Use BestChange to find the most favourable exchangers with support for exchange codes.