What Is The EX-CODE (EXMO-CODE) and How Does It Work?

What is EX-CODE

EX-CODE is a helpful tool for transferring funds (both crypto and fiat) between users of the EXMO platform. This tool is already widely used in online exchangers, as it helps to transfer monetary assets outside the exchange space easily.

EX-CODE is a combination of 57 characters: numbers and Latin letters - so the attempt to guess a combination of such a code will take forever.

While creating the code, EXMO system is blocking the sum on the user's account and when the code is activated - money goes to the EX-CODE recipient account. Depositing funds via EX-CODE occurs instantly.

What can EX-CODE be used for?

  1. Transfer funds to another user's account of the EXMO exchange or generate a code as a gift.
  2. Use the payment methods, which are not available on the EXMO platform, but can be used via cryptocurrency exchangers.
  3. Withdraw funds through the exchangers in fiat currencies, which are not available on the EXMO platform.

Which currencies can it be used with?

To create an EX-CODE, you can use any currencies, that are included to the EXMO Trading list: 40+ cryptocurrencies and 6 fiat - United States Dollar (USD), Euro (EUR), Pound sterling (GBP), Russian Ruble (RUB), Ukrainian Hryvnia (UAH), Kazakhstani tenge (KZT), Polish Zloty (PLN) and Turkish Lira (TRY).

Fees & Limits 

When forming EX-CODE with any available cryptocurrency commission is not charged.

In case of fiat currencies, fees are the following:

  • 0,2% - for creating up to 2 codes in one currency within a day;
  • 0,6% - when creating the 3rd and following codes in the same currency during the day;
  • 0% - when funds are credited from EX-CODE to EXMO account (in case of activation on the exchange).

There are limits on the maximum amount for the one EX-CODE in Fiat. It is about $ 20,000 (or equivalent) in most cases. You can check the current limits in your account when creating an EX-CODE.

How to generate an EX-CODE?

Step 1. Go to the “Wallet” section

Go to the “Wallet” section of the exchange and choose the “Withdraw” near the EX-CODE (at the end of the currencies list);

Step 2. Choose the currency

Choose the currency which you want to generate in EX-CODE;

The “Available for Withdrawal” line indicates the amount in this currency, which is available on your balance.

Or, you can immediately click on the “Withdraw” button opposite the needed currency in the “Wallet” section, and choose EX-CODE from the available withdrawal methods.

Step 3. Enter the amount

Enter the amount to create an EX-CODE in the "Withdrawal amount" field.

The system will automatically recalculate the sum, taking the commission into account (0.2% for the first two codes created per day in one currency) and will indicate the result in the “You will get” line.

For example, if you create a code for $ 1000, the commission will be - 0.2%, $ 2 in our case. Thus, the recipient of the code gets $ 998 ($ 1000- $ 2) after activating the code on the EXMO personal account.

Click the "Create EX-CODE" button after filling all the needed lines correctly.

If you specify the “Recipient Login” field while creating an EX-Code - you will create a personal EX-CODE.Only 2 people can activate such code - you and the person, whom the code is addressed to. Any other user of the platform will receive a refusal in case of an attempt to use the personal code, which is not addressed to the account.

Step 4. Check your e-mail notifications and confirm the creation of EX-CODE

Check your e-mail notifications, find the Withdrawal-confirmation letter and confirm or cancel the creation of EX-CODE by following the specified link. Click on the Withdrawal confirmation link and get your EX-CODE. You can copy it and send it to the recipient. Also, an automatic letter with EX-CODE comes to your email registered on EXMO.

Generate an EX-CODE

How to get money via an EX-CODE?

While you have an EX-CODE generated, or purchased via crypto-exchangers, you can instantly replenish your EXMO Wallet without any fees.  

Step 1. Click on the “Deposit” button next to an EX-CODE, which is at the end of the list of available cryptocurrencies in the "Wallet" section.

Step 2. In the new field, please, indicate the code you received, and click the "Download EX- CODE" button.

The funds will be immediately credited to your account. 

Activate an EX-CODE

EX-CODE and online crypto-exchangers

Many exchangers work with exchanging EX-CODE for fiat currencies. They may also be registered on the EXMO platform and therefore can accept and create new codes, transferring them to other EXMO users.

But, when transferring funds to/from a credit card or a payment service with which the exchanger works, additional fees from this exchanger may be charged.