How To Sell Crypto Using Your Sepa Bank Account: Changelly Explains
This step-by-step guide was written to explain how to sell crypto on Changelly via SEPA bank transfer*.
*Single Euro Payments Area (SEPA) is a payment integration initiative of the European Union to simplify bank transfers denominated in euro. SEPA enables customers to make cashless euro payments to any account located anywhere in the area, using a single bank account and a single set of payment instruments.
❗Helpful hint: Before starting the process, please make sure you have your ID, namely: Passport or Driving license (Israel only) or ID card (Israel only) available in front of you/scanned to your device. If it’s your first crypto withdrawal, you will be asked to upload the document.
Open Changelly website and click the “Sell crypto via SEPA” button.
You will be redirected to the order page, powered by Bits of Gold and Changelly. For now, withdrawal transactions can be executed only from Bitcoin (BTC) into Euro (EUR).
Set the amount of BTC you want to sell or the amount of EUR you want to receive. The process of exchange rate formation works both ways. Review the order summary and press Continue to proceed.
As we’ve already mentioned, user registration is mandatory to continue the crypto withdrawal process.
To start the registration process, please:
Fill in your first and last name,
Provide a valid email address,
Create a password (must be at least 8 characters),
Accept the Terms and Conditions.
Then, proceed to the next step by clicking the “Set up Account” button.
Carefully read the Privacy Notice, tick the agreement box, then press Continue to proceed.
For the next step of creating the account, you’ll need to provide the following personal information:
Enter your mobile phone number for verification purposes;
Provide your date of birth;
Fill in your residential address;
Choose your gender, then press Continue to proceed.
After that, you’ll be redirected to the “Credentials” step. We take security very seriously. For that reason, you’ll need to upload a photo ID and enter ID details, such as:
Passport expiration date.
If you are a resident of Israel, you can choose from several ID types, which are:
Upload the photo of your ID document and proceed to complete your registration.
The process of identity verification takes 10 minutes on average but can take up to 1 business day for security reasons. Please, be patient.
To complete your registration verify your email address by clicking the “Confirm your email address” button you will get in your email inbox, sent by Bits of Gold. If you did not receive the email, please check your SPAM folder.
Now that you’ve created an account, review the order summary once again and press the “Complete my Order” button.
For the second step, provide your international bank account number (IBAN), and enter the name of the account’s owner, press Continue to proceed.
Transfer the coins to the wallet address specified on the screen. Review the estimated amount of EUR to be received again. Don’t forget to take the transaction fee of 5% into account.
Your order was successfully created! Your funds will be sent to your SEPA bank account in up to three business days after the rates were locked on the blockchain, although usually they are sent out within a few hours of the rate being locked. You will receive an email notification once your funds are transferred.