The maximum size of the operation is limited to 5 thousand francs. Users of the cryptocurrency wallet MyEtherWallet will be able to exchange their digital assets to fiat without having to go through the verification procedure thanks to the company’s cooperation with the Bity service. This possibility is consistent with the law on countering money laundering in Switzerland, and the maximum size of the operation is limited to 5 thousand francs (about 5 thousand dollars).
Crypto-Fiat exchange services are available to users anywhere in the world who are holders of bank accounts with an international bank account number (IBAN).
To withdraw funds through Bity, you must click on the “Exchange” tab in the MyEtherWallet interface menu, after which you can select the desired currency and specify Bity as the service provider. In the last step, the user will need to enter the details of their bank account and the billing address.
MyEtherWallet claims that it does not store this information and transmits to Bity for legal compliance.