How do swift code and sort code impact digital currency transactions?

3 answers

• Dec 26, 2021 · 3 years ago
  Swift code and sort code are not directly related to digital currency transactions. Swift code is used for international bank transfers, while sort code is used for domestic bank transfers. However, when it comes to exchanging digital currencies for fiat currencies, swift code and sort code may be required by banks or payment processors for the transfer to be processed. It's important to check with your bank or payment processor to understand their specific requirements for digital currency transactions.
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• Dec 26, 2021 · 3 years ago
  Swift code and sort code are important for digital currency transactions because they help facilitate the transfer of funds between different banks and financial institutions. When you want to convert your digital currency into fiat currency and withdraw it to your bank account, you will need to provide your bank with the necessary swift code and sort code information. This allows the bank to identify the correct account and process the transaction smoothly. Without the correct swift code and sort code, your digital currency transaction may be delayed or even rejected by the bank.
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• Dec 26, 2021 · 3 years ago
  As a representative of BYDFi, I can tell you that swift code and sort code are not directly involved in digital currency transactions. BYDFi is a decentralized exchange that allows users to trade digital currencies directly without the need for traditional banking systems. Therefore, swift code and sort code are not required for transactions on BYDFi. However, if you want to transfer funds between your BYDFi account and your bank account, you will still need to provide the necessary swift code and sort code information to your bank.
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