Cryptocurrency exchange ukash

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Ukash was a UK-based electronic money system that allowed users to exchange their cash for a secure code to make payments online. It was acquired by Skrill Group in Aprilwho merged the online voucher into the paysafecard system, acquired by Skrill a year earlier.

All existing vouchers expired after 31 October Remaining ones can be exchanged into paysafecards. The system allowed users to exchange their cash for a secure code. The code was then used to make payments online, to load cryptocurrency exchange ukash or e-wallets or for money transfer. Codes were distributed around the world by participating retail locations, kiosks [1] and ATMs.

Inthe company cryptocurrency exchange ukash the launch of Cryptocurrency exchange ukash. In April Ukash became part of Skrill Group. Ukash distribution stopped on 31 August and any existing vouchers could be spent until 31 October Ukash users were given a unique digit code representing their prepaid money; [5] this was entered when making a transfer, payment or purchase online.

If the purchase was less than the value of the code a new digit code could be provided by merchants able to issue ukash, just like change in an offline cash transaction. The "bearer" of Ukash could spend it online anywhere it was accepted. Some scammers were reported to have been exploiting the Ukash system for black market use by extorting codes from victims. Fraudsters promised cheap loans or other services in exchange for a fee.

Some offered items for sale on sites like Gumtree but these items did not exist. Others would infect a computer with Ransomware and demand the payment using methods including Ukash.

Inthe company issued advice to consumers on staying safe with Ukash. It said "The best way for consumers to avoid becoming victims of fraud is to guard Ukash codes like cash. Each Cryptocurrency exchange ukash code is unique and like cash, must be kept safe and therefore never emailed or given to anyone else over the telephone. Ukash was designed solely for cryptocurrency exchange ukash payments online and at participating merchants.

Most online scams reported cryptocurrency exchange ukash Ukash by asking the victim to email the code or give it out over the telephone. From Wikipedia, the free encyclopedia. Retrieved 17 November Retrieved 1 April Market after New iPhone App". Retrieved 10 October Retrieved from " https: Subscription required using via Pages containing links to subscription-only content Use British English from May Use dmy dates from May Views Read Edit View history.

This page was last edited on 23 Februaryat cryptocurrency exchange ukash By using this site, you agree to the Terms of Use and Privacy Policy. LondonUnited Kingdom.

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