Ethereum update: MyEtherWallet introduces "Exit to Fiat” functionality

The wallet users can withdraw to fiat up to CHF 5000 without verification.
ETH/USD rangebound marginally above $147.00.

Tanya Abrosimova Independent Analyst

MyEtherWallet now allows users to withdraw cryptocurrencies to fiat without additional KYC process. The “Exit to Fiat” functionality is provided in partnership with a Swiss company Bity. It offers a comfortable and painless way to exchange digital assets into Swiss francs without verification.

The service is available for all owners of bank accounts with IBAN (International Bank Account Number). Users may withdraw up to CHF 5000 without KYC.

"Today, we are excited to reveal a new integration with Bity which allows MEW V5 users to exchange crypto to fiat without needing to be KYC verified, up to CHF 5000 (which happens to be approximately equal to USD 5000). For the first time, Bitcoin and Ethereum can be exchanged seamlessly with Euros or Swiss Francs, right inside the wallet,” the company wrote in its blog post.

Ethereum is changing hands at marginally above $147.00 at the time of writing. The second largest cryptocurrency has been oscillating in a range for the most of the week, capped by $150.40-$151.00 on the upside and supported by $143.50 on the downside. The coin is moving in sync with the rest of the market; however, the upcoming Constantinople update may infect additional volatility into ETH trading.

ETH/USD, 4-hour chart

Author

Tanya Abrosimova

Independent Analyst

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