SwiftEx allows users to convert cryptocurrencies into fiat currency through its Fiat Access feature, with funds credited to your chosen payout method. This guide covers the complete process, including special steps for converting Ethereum (ETH).
Prerequisites
KYC verification is mandatory for all crypto-to-fiat conversion transactions, regardless of the amount. This is a regulatory requirement enforced by payment providers.
How to Convert Crypto to Fiat
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Access the Fiat Access Section
Open the SwiftEx App and navigate to SDEX from your home screen. Within the SDEX section, select the Fiat Access option. This will take you to the fiat conversion interface where you can manage your crypto-to-fiat transactions.
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Choose a Payment Provider
Select a trusted payment provider from the available options (e.g., Alchemy Pay or other supported providers) to facilitate your crypto-to-fiat conversion. Different providers may offer different payout methods, processing times, and fee structures based on your region, so choose accordingly.
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Select Currencies and Payout Method
- Switch to the Sell tab on the fiat screen to access the conversion interface.
- Choose the cryptocurrency you want to convert from your wallet (e.g., Bitcoin, Ethereum, USDC, or other supported digital assets).
- Select the fiat currency you want to receive (e.g., USD, INR, EUR, or other region-specific fiat currencies supported by your selected provider).
- Choose your preferred payout method based on your region and the provider's available options. This may include Bank Transfer, UPI, or other local payout methods. Verify with your selected provider which payout methods are available in your area.
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Enter Transaction Details
Enter the amount of cryptocurrency you want to convert in the designated input field. The system will automatically calculate and display the equivalent fiat amount you'll receive using real-time conversion rates. Review the comprehensive transaction summary including the current conversion rate, any applicable processing or network fees, and the estimated time for the fiat to reach your payout method. Ensure all details are correct before proceeding.
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Complete Your Conversion
Tap the Sell Now button to proceed. If you haven't completed KYC verification yet, you'll be prompted to do so at this stage (refer to the KYC Verification section for detailed guidance). After KYC completion, enter your payout account details carefully as this is where your fiat funds will be sent. Review the final transaction summary thoroughly, including all amounts and fees, then tap Confirm to initiate the conversion process.
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Send ETH (if applicable)
If you're converting Ethereum (ETH), you'll receive a specific ETH deposit address from the payment provider. To complete the transaction, navigate to the Send section within the SwiftEx App. Select the Ethereum network, carefully enter or paste the provided ETH address (double-check for accuracy), input the exact ETH amount shown in your conversion request, and confirm the transfer. Your fiat funds will be credited to your payout method once the ETH transfer is successfully confirmed on the blockchain.
Post-Conversion
After your conversion is successfully completed, you can view basic transaction details by tapping the Transaction History icon located in the top right corner of your home screen. For comprehensive blockchain details, you can view your transaction on block explorers like Etherscan, BscScan, or Stellar.org.
Security Note
All conversion transactions are processed securely through trusted payment providers. Your banking information and personal data are encrypted and handled in strict compliance with global data protection standards including GDPR and CCPA. SwiftEx does not directly store your banking details or sensitive personal information.