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Users will be able to purchase cryptocurrencies on AAX as long as they have a bank account. They can also cash out their crypto to their bank account…
To facilitate users’ access to cryptocurrencies, high-performance crypto exchange platform AAX will be supporting 11 different fiat currencies for direct deposit and withdrawal via bank transfer from December 2020. Supported currencies include Australian Dollar (AUD), Canadian Dollar (CAD), Chinese Yuan (CNH), Swiss Franc (CHF), Euro (EUR), British Pounds (GBP), Hong Kong Dollar (HKD), New Zealand Dollar (NZD), Singapore Dollar (SGD), US Dollar (USD).
With the Bitcoin price recently reaching new highs, cryptocurrency has gained substantial popularity among investors. However, the barrier for users to purchase cryptocurrencies with fiat or cash out is relatively high compared to traditional stock markets. AAX is here to provide ease of access for investors. Users can now deposit and withdraw fiat from and to their personal bank account.
AAX’s multi-account wallet structure now supports not only holdings of fiat currency, but also instant swaps between fiat currency and USDT.
Instant swap supports BTC, ETH, EOS, NEO and USDT convert to selected fiat currencies, meaning users don’t have to sell the crypto on the spot market to USDT, and exchange the USDT to USD, followed by foreign currency exchange if necessary. Three steps are combined to one for a seamless user experience on AAX.
Those interested can find out more about an AAX fiat account here.