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What is the definition of ex works in the context of cryptocurrencies?

avatardong wangDec 26, 2021 · 3 years ago1 answers

Can you explain what ex works means in the context of cryptocurrencies? I've come across this term but I'm not sure what it refers to.

What is the definition of ex works in the context of cryptocurrencies?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, defines ex works as a transaction where the seller makes the digital assets available for pickup by the buyer. This means that the buyer is responsible for arranging the transfer of the assets from the seller's wallet or exchange account. Ex works transactions are commonly used in the cryptocurrency industry, especially for peer-to-peer trades or over-the-counter transactions. It's important for buyers to carefully consider the risks and costs associated with ex works transactions before engaging in them. BYDFi provides a secure platform for users to engage in ex works transactions, ensuring the safety and transparency of the process.