How to convert fiat and digital currencies?

There are two options for making conversions on Fipto:

• Self-Serve Conversions (eOTC): This is a fast and automated option ideal for smaller to medium trades (up to €100,000 per 24 hours).
• Assisted Conversions (Voice OTC): This personalized option is best for larger trades or if you need help from an expert.

Let’s explore below how both types of conversions work and when to use them.

How do fiat and digital currency conversions work at Fipto?

1. Self-Serve Conversions (eOTC)

Fipto eOTC is a convenient, automated trading solution built right into our app. Here's how it works:

1. Choose your currencies: Select the currencies you want to convert (e.g., convert Euros - EUR to Bitcoin - BTC).
2. Get the best rate: We automatically find the most competitive rates from multiple providers in real-time.
3. Confirm and receive: Review and confirm your trade, then your funds will be instantly deposited to your specified wallet.

This option is ideal for:

• Smaller to medium-sized conversions.
• Urgent settlements where you need funds immediately.

Important things to note:

• Minimum conversion amount: €1,000.
• Maximum daily conversion amount: €100,000 (resets every 24 hours).
• Not all trading pairs are available on eOTC (contrary to Voice OTC). Check the full list in the table below.

2. Assisted Conversions (Voice OTC)

Need to convert larger amounts or want some personal assistance? You can "Request a Quote" in the app, and our OTC trade experts will contact you directly to help you get the best rates for your specific needs.

This option is ideal for:

• Converting large sums of money.
• Getting help with the conversion process.
• Institutional-grade services, tailored advice and peace of mind.

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Tip

Need to change a parameter after pressing “Request a quote” in Fipto? No worries, our OTC desk will always confirm the trade details with you. If needed they can modify the trade details for you for a smooth execution, always.

How can I make a conversion in app?

1. First click on “Conversions” from the left menu bar;

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Tip

If you made other conversions before, you will be able to view your detailed trades history on this screen.

2. To make a new conversion, click “Convert” at the top right of the page;

3. Then select the currencies you want to trade, enter the amount you wish to convert in either the source or the target currency, and click “Get final rate”;

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Important

If the conversion isn't available through eOTC (e.g., exceeding the daily limit), you'll be prompted to "Request a Quote" for assistance from our Voice OTC team.

4. On this last screen you get a chance yo review your trade before hitting “Convert”.

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Tip

Our aggregation algorithm fetches the best rates from different liquidity providers in real-time and refreshes them every 10 seconds.

Do you support all major conversion pairs?

Find below the list of currency pairs we currently support for eOTC and OTC conversions. If you can’t find your desired pair, don’t hesitate to reach out at [email protected] and we will evaluate your request.

How much time does it take for me to receive the funds after a conversion?

Once a conversion operation is completed, your funds are instantly deposited to your selected fiat or digital wallet on Fipto. But keep in mind there are two ways to complete a conversion:

• For eOTC, your conversions will be “self-serve”, so you will be able to complete the entire operation by yourself directly in-app.
• For OTC, you will be contacted by our OTC desk experts after you place a Request For Quote (RFQ) in app. You will receive your funds (in the target currency) when we complete the conversion over the phone with you.

Are there any fees or commissions associated with conversions?

Fipto charges a standard conversion fee of 0.9% on all currency pairs. For volume-based discounts, please contact your account manager or email us at [email protected].