CryptoWolf Releases KYC-free Fiat Withdrawal Feature

Press Release / 11.08.2019
Among the latest news in crypto this week, well-known formidable exchange CryptoWolf.eu, a non-custodial cross-chain exchange platform, announced the unveiling of their KYC-free crypto to fiat withdrawal mechanism. Breaking traditional bounds, this comes as a bold move from an exchange of that stature. The process, as explained on the exchange’s main page, seems to be quite simple and efficient. As stated earlier, they have asked for no retention or verification of any documents. The process takes about 3 minutes, requires the crypto to be deposited to a non-custodial wallet and enjoy the facility of having the fiat deposited right into their account.
CryptoWolf’s transactions are anonymous and secure. This is because each transaction is hashed instantly with a time-stamping mechanism to withstand outside interference. The hash also serves as a testimony to the customer to prove his deposits validity.In making the process simple and efficient, the exchange has set new standards with respect to anonymous fiat-to-crypto conversion.

Why KYC-Free?

To stand with the blockchain ideology, where the community belief of respecting the privacy and freedom of its members, CryptoWolf decided to initiate this movement. KYC-free transactions promise greater adoption, higher transaction flow and better business perspective for the exchange to engage in other ideas and processes of similar nature.

At the time of writing, CryptoWolf amassed about 35 countries in and around Europe region, including the UK, Ireland, Switzerland and Italy, among others to help customers instantly convert their crypto into fiat. Trading pairs of BTCEUR, BTCCHF, ETHEUR and ETHCHF have been initiated, with dozens more on the way. A limit of 5000 CHF/Swiss Francs is set per transaction per account.

In the hopes of gaining greater adoption, the exchange has also set up a proposal for listing other cryptocurrencies. This will allow CryptoWolf to engage with a greater and global audience. A form for the process can be found on the exchange’s main page.

Exchanging Crypto to Fiat

1. A prospective customer goes onto the exchange and selects the “Exchange Now” feature which will redirect them to the deposit page

2. A choice is given as to which cryptocurrency the customer wishes to deposit. At the time of writing, CryptoWolf only supports Bitcoin and Ethereum, but several other cryptocurrency exchange pairs are on their way.

3. After entering the amount of crypto to be exchanged, checking the current exchange price and agreeing with the terms and conditions of the exchange, the customer is them expected to enter the receiving bank details. For now, the exchange has only partnered with banks in and around the Europe region to fulfill the transaction.

4. Instantly, QR code and deposit address is generated into which the customer has to deposit the crypto.
Depending upon the receiving bank, the customer is to receive their amount in about 1 or 2 working days.

Conclusion

CryptoWolf promises to be a forerunner by setting industry standards in crypto to fiat transactions. By allowing a seamless KYC-free UI and short waiting time, it can benefit users around the globe.

Exchanging cryptocurrencies to fiat without a proper intermediary to help with the process, can often be a real hassle, as you need to make a new account to who knows which shady exchange, wait for your coins to arrive and wait for the exchanges confirmation to send your newly acquired coins. CryptoWolf eliminates this tedious course by doing all the busy work for you, and to top it off it gives you the best buck for your money without any hidden fees. All of that without having to engage in the hassles of KYC. CryptoWolf truly is a one-of-a-kind exchange.

To get our complete review of CryptoWolf covering all of its features and capabilities, have a look here

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Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.