07 July, 2020 
 125

How Does The Transfer Work? TOP-5 Asked Questions

A lot of people took advantage of this opportunity, and someone only intends to make their first transfer. We have prepared the TOP-5 questions and answers about transfers that interest you
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How Does The Transfer Work? TOP-5 Asked Questions

Are you a pro in trading on the BTC-Alpha exchange? Or just went through the training video and have already managed to use the Demo-Trading? Well, one way or another, it is always time to transfer your assets. In order to make transfers easily, quickly, and without additional fees, a special service appeared on the BTC-Alpha exchange — «Transfers».

These are internal transfers, a product of the exchange’s own development, at the moment you will not find the same feature on other platforms.

Why Do You Need A Transfer On BTC-Alpha?

This is an easy way for exchange users to transfer assets between accounts. Such functionality will help you make the transfer process faster and without unnecessary losses since the commission in the first month for any number of transfers is 0%.

How To Transfer Cryptocurrency

To complete the transfer, follow the following algorithm:

  • Go to the Transfer tab in your account

  • Select the currency of your interest

  • Enter the transfer amount you are going to send

  • Enter the UID of the recipient to whom you are going to send funds

  • Optionally, add a security code/activation period and/or a note to the translation

  • Click "Create Transfer"

Remember: when sending a transfer with a security code, you need to save the code for transfer yourself. For security reasons, the BTC-Alpha exchange does not store security codes and does not display them in the transfer history.

Read also more about What A Social Listing Is

How To Get A Transfer On BTC-Alpha

If you were sent a transfer without a security code, your balance will be replenished automatically. You will be notified of this via the email address provided during account registration.

When you receive a transfer with a security code, go to the «Transfer» tab, in the Transfer History press the «Accept» button, enter the security code (the sender must send it to you through any convenient communication channel), click the «Get Transfer» button and the transfer will be completed, and your balance is replenished.

Remember: if the transfer is not accepted by the recipient before the activation period indicated by the sender or the security code was entered incorrectly more than 10 times, the funds will be returned to the sender.

How To Cancel A Transfer

Transfers without a security code and activation period are instantaneous and cannot be canceled. Accordingly, you cannot return funds to the balance after sending it. That is why we recommend that you carefully check the data before sending an instant transfer.

If a security code has been set: the sender can cancel the transfer after the expiration of the activation period by the recipient or if the recipient has entered the wrong security code more than 10 times. In this case, to cancel the transfer, you need to go to the history of transfers and click the «Cancel» button.

“Transfer” and “Alpha Code”, what are the differences?

Attentive users of the exchange noticed that there really is a similarity between these services. But there are also differences:

Safety

Transfer is a service that guarantees the security of the transfer. Firstly, you indicate the final recipient, which guarantees you complete the security of the transfer. Also, you can protect your transfer by adding a security code, activation period, or a note. Meanwhile, Alpha Code gives you the opportunity to create your own code where you do not specify the final recipient, where there are also no notes and activation deadlines.

Duration Of The Procedure

If you use Transfer without a security code, the transfer is carried out instantly to the account of the final recipient. Unlike Alpha Code, where you need to activate the code first, which will take you some time.

Do you have any questions or suggestions still? Contact our Telegram community. We will be happy to help you and answer all your questions.

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