In the cryptocurrency wallet MyEtherWallet, it is possible to convert digital currency into cash without the need to check your account. Service "Exit to Fiat" implemented in conjunction with the company Bity.
Now holders of cryptocurrency can withdraw their assets in francs, euros without checking. A prerequisite is to have an international bank account. The service is available to all bank account holders with an international bank account number (IBAN).
“The possibility of withdrawing cryptocurrencies in Fiat without verification is consistent with the law on countering money laundering in Switzerland, ” added MyEtherWallet.
To use Fiat, the user in the asset exchange section must specify Bity as the service provider. You will also need to provide a phone number, bank account details and a billing address.
This information is transmitted to Bity to comply with legal requirements and is not stored by MyEtherWallet.
The maximum transaction size is limited to 5,000 francs (about $ 5,000).
Publication date 02.02.2019
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