Off-ramping your crypto to local currencies can still be a hassle. Decaf has been active in this field since 2022. They made it possible for users in Latin America and Africa to off-ramp their $USDC.
Now they also added Europe to this list. You can now swap your $USDC for Euro and receive it straight into your bank account. So, we’re taking a closer look at how decaf lets you swap $USDC for Euro.
What Is Decaf?
Decaf now enabled sending $USDC to Euro, straight into your European bank account. The protocol has been doing these kinds of services since 2022. However, that was mostly in Latin America and Africa. Now it has also spread its wings to Europe.
You only need a Decaf Wallet, and you’re all set. Now, you can send your $USDC to Euro straight into a third-party bank account. The good news is that Decaf doesn’t charge any fees for this.
🇪🇺 Now live: Cash out USDC to Euros via SEPA – straight to your IBAN account.
Instant & easy! 💸 pic.twitter.com/MgU6SoPQif
— Decaf ☕ (@Decaf_so) October 31, 2024
If you had to make international payments, without using crypto, you may know Wise. It’s a service that allows you to send fiat from one country to another. Wise is cheaper and faster than banks. So, Wise is a popular option. There are similar services available, but Wise may be the best-known one.
However, if you use crypto, you know crypto is even faster and also cheaper. The problem is off-ramping. Decaf solved that for you. Decaf also allows third-party payments. In other words, you can send the money straight to their bank account. They don’t even need to have the Decaf Wallet. There’s also no need for them to know what crypto is or how it works.
How to Send $USDC to Euro with Decaf
Sending $USDC to Euro is easy with Decaf. There are a few simple tasks to complete and you’re all set. Here you go.
- First, you need the Decaf Wallet, here’s the link. It’s mobile-only and it runs on Solana.
- Although it’s a noncustodial wallet, you still need to complete a KYC. That’s the know-your-customer check. This requires a government-approved ID document.
- Once you have installed their wallet, get some USDC. You should be able to get this from any CEX. However, you can also use your credit card or an ACH or SEPA transfer in your wallet.
- Add the other person’s bank accounts under EU withdrawals. There’s no need for them to add or download anything.
Here is a video guide about it:
To sum up, Decaf added a convenient $USDC to Euro off-ramp option to their wallet. This allows you to swap $USDC directly to Euro and send it to a bank account.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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