At Bombastic, the term "Deposit" is a key concept for transferring funds into your account. While some crypto exchanges might use "Receive" to describe this action, at Bombastic, we exclusively use "Deposit" to ensure clarity and consistency for our users.
What Does "Deposit" Mean?
"Deposit" refers to the action of adding funds to your Bombastic account from various sources, including personal bank accounts, other crypto wallets, or from another account that you own. This term is specifically used to highlight the process of transferring your own assets into your account.
Deposits from Other Users
It’s important to note that at Bombastic, while you can deposit funds from multiple sources, the funds must always be legally owned by you. This means even if you receive money from other people, such as friends or family, these funds must be deposited into your account under your name and with your payment instruments.
Ownership and Security
Maintaining legal ownership of both the funds and the payment instruments used for deposits is crucial for your security and compliance on our platform. This requirement helps safeguard your transactions and ensure all financial activities meet regulatory standards.
Usually, the Receiving facility of one crypto business is the Sending facility of another:
