1. Register and confirm with our companion Switchere – protected, licensed, and trusted crypto alternate service.

2. Then, the merchants should enter the identical email address that they used to register on Switchere of their NOWPayments account.

3. Once registration is finished, merchants can cash out to fiat as typically as they need with none more doublechecks. The method will likely be performed mechanically and cash will land into the chosen SEPA checking account.

Conclusion

That means banks and other monetary institutions are obligated to have the personal info of customers on file in order to be insured. Though the FDIC doesn’t insure crypto, cryptocurrency exchanges working within the US have adopted KYC standards. Both Coinbase and FTX.US require customers to confirm their identities. It’s also worth noting that the FDIC, in concert with other regulatory agencies, is trying into new laws payment gateway plugin for oscommerce crypto assets.

Protection towards inflation

As we all know, all cryptocurrency has limitations to its production. BTC has the constraint of 21 million. Fiat and paper currency face inflation over time. But because of their limited quantity, bitcoins and cryptocurrency makes the value stable and protects us in opposition to inflation. Even if it protects you from inflation, BTC or another CryptoCurrency is extremely extremely unstable, which isn’t bad if you understand the best way to reap the benefits of that volatility.