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Traveling to Thailand with Crypto? Withdraw in cash at local ATM with no extra charge. No card required.

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Traveling to Thailand with Crypto? Withdraw in cash at local ATM with no extra charge. No card required. 

 

Targeting financial services to expat, digital nomad and cryptocurrency communities, the fintech challenger Everex.io came with a new and interesting service of using blockchain for instant cross-border transfer and domestic money exchange. Serving currency corridors between USD, EUR, crypto and THB, Everex offers huge savings on currency exchange, transfers, and most importantly, free cardless ATM withdrawals.

 

When you run out of cash and it’s time to get a new stash, that’s when most of us get caught with 200-220 THB ATM international withdrawal fees that are charged by banks on the top of the currency exchange rate, which may reach additional 4-5%. Everex found a way to deliver THB only for around 1% over interbank currency conversion rates. There are no additional fees or commission, whether you do transfer to Thai bank account or request cardless ATM withdrawal. And what’s cool is а real same day delivery and no withdrawal fees. Bank account or card is not required to use this service.

 

 

everex.jpg

 

How it Works

 

  1. Sign up and verify your identity. After verification, add THB to your wallet by depositing the quoted amount in EUR or USD. If you are a crypto friendly person, you can use DAI (USD) or EVX token to send to your wallet address.
  2. Once Everex team receives your funds, THB will appear in your Everex wallet within minutes. If you transfer EVX or DAI it will appear on your Everex balance automatically.
  3. To receive cash in THB, locate Withdrawal function in the wallet and specify how you want to receive it: via ATM or Thai bank account. If you select Cardless ATM, note that there is 20,000 THB limit per transaction. For bank account withdrawal the limit is 30,000 THB. No bank account or card is required for ATM withdrawals. Nor you will pay any withdrawal fees.
  4. This service is available in any major city in Thailand, including Bangkok, Pattaya, Phuket, Chiang Mai and other popular destinations.


Do you first transfer with Everex Wallet. For more details visit Everex site

 

 

Get the app

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On 8/26/2019 at 10:01 AM, ThaivisaSales said:

add THB to your wallet by depositing the quoted amount in EUR or USD.

I dont understand step 1. The heading of the article is 'traveling to thailand with crypto'. So why would I deposit fiat (baht). 

 

Its unclear what this technology is suited for. Please explain and I might thus register but at the moment I dont understand. 

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1 hour ago, davidst01 said:

I dont understand step 1. The heading of the article is 'traveling to thailand with crypto'. So why would I deposit fiat (baht). 

 

Its unclear what this technology is suited for. Please explain and I might thus register but at the moment I dont understand. 

No mention of the crucial point - the conversion rate. And what if your funds originate in currencies other than USD or EUR? Is there an additional forex conversion charge?

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How do you "travel with crypto"? More like travel with (access to) your keys.

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On 9/10/2019 at 9:03 AM, wombat said:

do gold shops in Thailand  take crypto ?

You can convert crypto to EVX, DAI or USDC and then transfer to Everex Wallet first. When making payments, you can exchange your assets to THB in the wallet and withdraw via Cardless ATM or Bank Transfer.

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On 9/10/2019 at 10:13 AM, davidst01 said:

I dont understand step 1. The heading of the article is 'traveling to thailand with crypto'. So why would I deposit fiat (baht). 

 

Its unclear what this technology is suited for. Please explain and I might thus register but at the moment I dont understand. 

Basically the article instructs to deposit stablecoins (DAI, USDC) or crypto (EVX) in the wallet that can also be bought with fiat, and convert into THB, USD or EUR when needed. Crypto and stablecoins can be transferred to popular crypto exchanges as well, thereby the wallet serves as Fiat-crypto gateway.

Edited by Elizaa

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On 9/10/2019 at 11:47 AM, PerkinsCuthbert said:

No mention of the crucial point - the conversion rate. And what if your funds originate in currencies other than USD or EUR? Is there an additional forex conversion charge?

Everex delivers THB around 1% over interbank currency conversion rates. If you specify the exact amount of USD or EUR to your bank they will arrange the payment.

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On 9/10/2019 at 2:44 PM, Caldera said:

How do you "travel with crypto"? More like travel with (access to) your keys.

Rather like 'travel with crypto/stable coins in a digital wallet that you can withdraw when needed.'

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Be careful with this mob. 

I dealt with a similar mob and they wanted full reproduction quality photos of passport, electricity bill/ bank account/ drivers licence. The same requirements as Payoneer, who I also won't use over the risk of identity theft.

 1299789152_Screenshot2019-09-24at9_18_13AM.jpg.89dd65190519425ffaf476274c472e59.jpg

Edited by Yme
  • Sad 1

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On 8/26/2019 at 10:01 AM, ThaivisaSales said:

No card required. 

how does that work ?

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2 hours ago, Yme said:

Be careful with this mob. 

I dealt with a similar mob and they wanted full reproduction quality photos of passport, electricity bill/ bank account/ drivers licence. The same requirements as Payoneer, who I also won't use over the risk of identity theft.

 1299789152_Screenshot2019-09-24at9_18_13AM.jpg.89dd65190519425ffaf476274c472e59.jpg

Everex requires a selfie and passport copy only. Where did you get this list of requirements for KYC. Electricity bill/ bank account/ drivers licence are not required and never asked by Everex Wallet.

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2 hours ago, wombat said:

how does that work ?

If you hold crypto, you can exchange it for USDC/DAI/EVX and send to Everex Wallet; which you can either withdraw to your Thai/US/European bank account or via ATM in Thailand. ATM withdrawal in Thailand is cardless, meaning you will use reference codes provided by Everex to withdraw from ATM.

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Anyone know if this solution is cheaper than bitkub? 

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35 minutes ago, Tayaout said:

Anyone know if this solution is cheaper than bitkub? 

There are no fees for Everex withdrawal. Everex delivers THB for around 1% over inter-bank currency conversion rates. Also you can transfer to/from exchanges that accept USDC/DAI/EVX for free. So you can certainly profit from arbitrage using Everex wallet.

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