Three months ago, Eidoo was one of the first wallets to integrate an Instant SEPA on-ramp allowing European users to purchase digital assets within minutes. This new path from cash to crypto provided relief for those tired of jumping from exchange to exchange. In addition, it granted direct access to our in-app Hybrid Exchange, and our built-in DeFi Exchange featuring the most popular investment protocols in decentralized finance.
This month, we’re thrilled to complete the end-to-end experience by adding a new feature: Instant Crypto Cash Out.
Now you just need a single app to buy, store, trade, and sell* your crypto.
*Our cashout feature currently works only with Android. It will soon be available for iOS and desktop!
Improving on SEPA
Until recently, wire transfers via SEPA (Single Euro Payments Area), typically took 2-3 days to be processed. Thankfully its system of cross-border Euro bank transfers for countries in the Eurozone has been upgraded so that most transfers only take one working day to be cleared. But we knew we could do better.
Faster than a regular SEPA transaction, INSTANT SEPA allows for European users to purchase digital assets in minutes, not hours. And for those mindful of transaction costs, this fiat on-ramp can quickly confirm $DAI purchases for low-to-no fees.
The DAI stablecoin comes from one of the most exciting projects in the DeFi space, MakerDAO. Through their currency, platforms and tools, Maker is trying to achieve open and equal access to high-quality financial services, including fair credit for everyone. You can start earning interest on your DAI directly through Eidoo wallet.
You’ll just need to make sure you’ve passed your in-wallet KYC to start cashing in for crypto.
A frictionless cash out
Matched with our on-ramp feature, European customers can also enjoy Instant Crypto Cash Out, which completes the end-to-end experience with the Eidoo platform.
As long as you’ve passed Tier 2 through our in-app KYC – a simple verification process called eidooID – then you have access to our off-ramp service allowing for easy cash out of your digital assets.
Simply swap your DAI, USDT, USDC and EURM tokens for Euros using our in-app wire transfer and pay only 1% cashout fee.
Or for those looking to go from crypto to cash in minutes, you can take advantage of the same Instant SEPA feature we introduced for on-ramps. You can enjoy up to two of these instant cash out transactions per day.
With so many ways to buy and sell crypto, Eidoo is proud to have its users be among the first worldwide to enjoy an ultra-fast on-ramp and a frictionless cash out – all without leaving the app.