What is onus ATM withdrawal?

Cryptocurrency transactions, like traditional financial transactions, can be classified based on the location and type of exchange. One distinction that is commonly made is between On-Us and Off-Us transactions. In the context of bank cards, an On-Us transaction refers to a transaction that takes place at an ATM belonging to the issuing bank.

Conversely, an Off-Us transaction occurs when a transaction is carried out at an ATM that does not belong to the issuing bank. This distinction is important as it can impact the fees and processing times associated with the transaction.

In the world of cryptocurrency, while the direct analogy to On-Us and Off-Us transactions may not be as clear-cut, the principle of transaction fees and efficiency still applies. Cryptocurrency exchanges, like BTCC, offer various services that can affect the cost and speed of transactions.

BTCC, as a top cryptocurrency exchange, provides a comprehensive suite of services to its users. Among these services are spot trading, futures trading, and wallet storage. Each of these services has its own set of fees and processing times, which can impact the overall cost and efficiency of a transaction.

Spot trading, for example, allows users to buy and sell cryptocurrencies at the current market price. Futures trading, on the other hand, allows users to speculate on the future price of cryptocurrencies, potentially increasing their exposure to market volatility. Wallet storage, meanwhile, provides a secure place for users to store their cryptocurrencies.