Crypto.com Launches Fiat Withdrawal Via Bank Transfer for 21 Major Currencies
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Crypto.com Launches Fiat Withdrawal Via Bank Transfer for 21 Major Currencies

November 29, 2019      Olowo

Crypto payment platform Crypto.com has announced that users can now adopt a new integrated method for withdrawal from the Crypto.com Fiat Wallet, supporting over 21 fiat currencies.

Inclusively, users can now transact different crypto and initiate withdrawals directly to personal bank account. These added features have long been requested as users see it as a means of strengthening the utility of the platform.

The countries supported by the platform include; AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR

However, for users to being selling cryptocurrencies to fiat, they need to initially set up the corresponding fiat currency wallet first to access the option to sell crypto.

To activate fiat withdrawals, users need to deposit the related fiat currency through the use of international bank transfer to the platform before transferring the funds to the same account.

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Concurrently, there wouldn’t be any imposed fee for fiat withdrawal, however, the same might not be applicable when receiving funds from the bank.

The proposed fee, however, might vary depending on the location of the users’ account and can calculated and deducted from the withdrawal amount when submitting the withdrawal request.

Crypto.com Also Makes Changes To Its Crypto Earn Program

Crypto.com also revealed that the platform has also made updates to the Crypto Earn program. According to Crypto.com, the update would be effective from 29 November 2019.

This update mandates that upon maturity of the fixed term deposits placed in Crypto Earn, the principal and interest generated will be transferred automatically to the respective crypto wallet in the Crypto.com App.

However, it is mandatory to know that users who are geographically based within the platform’s service partner’s permitted jurisdiction are the only ones permitted access fiat deposit and withdrawal option via international bank transfer. This new development has also been extended to its mobile iOS and Android applications.

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Olowo
Olowo

I am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.