Selling your crypto earnings is a great way to make your funds tangible for everyday use, whether it be for purchasing goods or services, or even just to have some extra cash in your wallet.
Below are guidelines to ensure that your off ramping experience is as smooth and streamlined as possible.
In order to sell your crypto, please put in your preferred Simplex partner, exchange, or wallet. Then, select the coin you would like to sell (BTC, ETH, TRX, and USDT are currently available), and the EUR currency that you will be converting it to.
Once you have your fiat in your Simplex Banking account, you may want to move that money to another bank - withdraw - for daily use. In order to do this, you will need to provide what’s called a Source of Funds (SoF). This is a form of receipt that explains where the currency from your fiat or crypto transaction originates and is required to prove that your funds came from a legitimate source. The reason why we ask for a SoF is because, as a licensed financial institution, we are governed by certain rules and regulations that require us to collect additional documents in order to protect our customers and the company.
Accepted proof of fiat/crypto funds include:
- A personal bank statement for the last consecutive 3 months showing personal income (salary, savings, dividends, revenue, other income)
- Copies of payslips for the last consecutive 3 months
- Written confirmation of your annual salary signed by your employer
- A document showing individual business activity (individual activity certificate, license, extract, any other relevant document)
- A personal tax statement (for the last tax year)
- Any invoices which show provided services (from the last 3 months) with a bank statement showing the funds being credited to your bank account.