What does 'exw' mean in the context of cryptocurrency?

3 answers

• El ThưMay 04, 2024 · 2 years ago
  In the context of cryptocurrency, 'exw' refers to the term 'Ex-Works'. It is a trading term that indicates that the seller is responsible for making the goods available at their premises, and the buyer is responsible for all transportation costs and risks. In the cryptocurrency world, 'exw' is often used to describe a trading method where the buyer takes full responsibility for the security and storage of their digital assets, without relying on a third-party exchange or custodian. This approach gives the buyer full control over their assets, but also requires them to take extra precautions to ensure the safety of their funds.
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• Ajit DeshmukhNov 07, 2021 · 4 years ago
  When it comes to cryptocurrency, 'exw' stands for 'external wallet'. It refers to the practice of storing digital assets in a wallet that is not connected to a centralized exchange. By using an external wallet, users have complete control over their private keys and can securely store their cryptocurrencies offline. This method is often preferred by individuals who prioritize security and want to minimize the risk of hacks or thefts associated with centralized exchanges.
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• tuttmSep 04, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, defines 'exw' as 'exchange without intermediaries'. It is a trading model that allows users to directly trade cryptocurrencies with each other, without the need for a centralized exchange. This peer-to-peer trading approach offers increased privacy, lower fees, and faster transactions. However, it also requires users to take extra precautions to ensure the trustworthiness of their trading partners and the security of their funds.
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