Formerly, when you want to buy good from another country or send money across other regions, we use the bank to make those transactions, but it has changed. People rarely use the traditional bank to send money across or to buy items online anymore. What happened? The arrival of digital platforms has taken over that, which is a lot faster and better unlike the regular bank method. You don’t have to wait for days or pay high fees before getting what you want across the border. Digital money and crypto is making an impact for better money transfer, freedom and security.
Recently, a lot of people use platforms that connect their regular bank accounts to cryptocurrency. This process is very simple, when you deposit your local currency into a digital account, it converts into a digital currency.
Through these platforms, you can use your digital currency the same way you use your regular money in your bank account to pay for utilities bills, shop online and transfer money to people. A lot of online stores has option to shops and “Pay with Crypto”. When a customer clicks it, the platform debits your digital coins and pay the shop owner in their preferred currency. The use of digital currency to shop online cost little when compared with bank credit cards that cost more.
You can use cryptocurrency to make transactions where it is supported. You can receive payments with crypto, and use it to shop anywhere where it’s accepted by the merchant.
Furthermore, Fiat24 is one of the crypto platforms that allows you to use both your local and digital currencies all in one app. In the sections that come next, we’ll look at Fiat24 supported countries and the services it offers.
What is Fiat24?
Fiat24 is a platform in Switzerland that combines the use of both cryptocurrency and regular money to make transactions across the continent easy.
To access your Fiat24 account, a Non-Fungible Token (NFT) is all you need. A username or password is not required for you to login to your Fiat24 account. The NFT serves as both your account number and your login access key.
With Fiat24, you can manage your finances directly through your crypto wallet without needing a separate banking app to do both.
In addition, you can get paid, pay bills and transfer cash using your NFT account.
You can link your Fiat24 virtual MasterCard to Google and Apple Pay and use them to make purchases. Through Fiat24, it’s easier to sell your crypto, convert it to regular money and receive it in your regular bank account.
In Fiat24, all transactions are recorded publicly which makes them secure and transparent for everyone to see.
Moreover, Know Your Customer verification is usually done privately, so no one gets to know your personal information.
How Fiat24 Works
- You’ll need an NFT account. It’s a digital account that equally serve as a password to your account. The Arbitrium’s network is where you create the unique NFT account. It’s done through two (2) ways: Either through Fiat24 website or by using a crypto wallet like MetaMask or Bitget to create the NFT account. You create an NFT by minting it on the blockchain through the above-mentioned ways. Simply upload your digital art, press “Mint”, and your NFT will be created. The blockchain will record it as your personal and official account number.
- Next, log in your cryptocurrency wallet to access your account. Once you’ve logged in, you’ll receive a digital message. Type in the content of the message into your wallet’s signature request, approve it to access the platform.
- A verification process must be done to prove who you’re. The app must access you location to be sure you’re in Fiat24 Supported Countries. A biometric scan through your phone is done to enable your device detect the encrypted data (chip) in your passport.
- Once you’re verified, your account gets upgraded to use the platform fully. You can then buy, sell or do more things with your NFT account.
- There are two ways you can add money to your NFT account. First, through a bank. To do this, you must have a Swiss IBAN (International Bank Account Number), which allows you to send any Dollars or Euros from the bank to your NFT account. The second is through Crypto. You can swap Bitcoin for Dollar in the app, then send it to your NFT account.
- Once there’s funds in your account, you can use them in the real world. You can use your Virtual Mastercard that connects to your account to make transactions. You can also add the card to Apple or Google to buy groceries or shop online. You can make direct payment like sending money to someone using Fiat24 or to send money to a regular bank account.
List of Fiat24 Supported Countries:
Below is the full list of Fiat24 available countries:
- United Kingdom
- Canada
- Australia
- Austria
- Belgium
- France
- Germany
- Italy
- Netherlands
- Poland
- Spain
- Switzerland
- Nigeria
- Ghana
- Kenya
- South Africa
- Uganda
- Tanzania
- Zambia
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- United Arab Emirates.
- New Zealand
- Argentina
- Brazil
- Chile
- Colombia
- Mexico
- Peru.
You should visit the website for the full list of Fiat24 supported countries.
List of Fiat24 Supported States in the USA
Individuals in the United States of America can’t use Fiat24’s app and card services. The service is basically for people living in the European country and in Switzerland. Individuals in the United States can use Coinbase or Cash App for their crypto needs and financial transactions.
Fiat24 Alternatives:
- Gnosis Pay
- Revolut and Wirex
For United States Residents
- Coinbase
- Crypto.com
- Cash App
- Juno
Conclusion
Fiat24 is an online app that allows you to link both your bank account and your cryptocurrency wallet together.
However, the service does not work in any state in the U.S.A. It is majorly for people who live in the Europe or Switzerland.
With Fiat24 credit card, you can make transactions just like the regular bank card.
If you live in the USA, you need to use different, approved apps like Coinbase or Crypto.com. These apps offer similar features and also follows the U.S. rules.
Fiat24 supported countries list is limited when compared to other global markets. However, always check the official Fiat24 site to see where they operate.