Question 1

Is Mt Pelerin regulated?

Accepted Answer

Yes, Mt Pelerin has been registered in Switzerland since 2019 as a financial intermediary, which is the authorization to provide brokerage and financial services in the country. Mt Pelerin is affiliated to SO-FIT, a self-regulatory organization (SRO) under the Swiss Anti-Money Laundering Act, officially recognized and supervised by FINMA, the Swiss financial market supervisory authority. SO-FIT audits the compliance of Mt Pelerin's activities each year.

Question 2

How do I buy cryptocurrency with a bank transfer in Switzerland?

Accepted Answer

To buy cryptocurrency with a CHF bank transfer in Switzerland, select your desired cryptocurrency and CHF as the source currency on Mt Pelerin, enter your self-custodial wallet address and verify it, and follow the instructions to send a CHF bank transfer via SIC to our Swiss IBAN. Your cryptocurrency is delivered directly to your wallet as soon as the transfer is received. Purchases up to CHF 999 per 30 days require no identity verification.

Question 3

Can I buy cryptocurrency with cash in Switzerland?

Accepted Answer

Yes. In Switzerland, Mt Pelerin offers to buy cryptocurrency with cash by generating a Swiss QR-bill in its mobile app or web interface, then pay it with cash at any Swiss Post office branch, or at any SBB railway ticket vending machine located in train stations across Switzerland. Both options require no bank account and deliver crypto directly to your wallet, and are significantly cheaper than other cash options in Switzerland like crypto ATMs or voucher cards.

Question 4

Can I buy or sell crypto via euro SEPA transfer?

Accepted Answer

Yes. Mt Pelerin accepts EUR SEPA transfers from any bank account in the SEPA zone, which covers all EU member states as well as Switzerland, Norway, Iceland, Liechtenstein and several other European countries. To buy crypto via SEPA, select EUR as your source currency, enter and verify your wallet address and send a EUR bank transfer to our IBAN from any bank in the SEPA zone. To sell crypto and receive EUR, enter your IBAN from any country of the SEPA zone and send your cryptocurrency from any self-custodial wallet. Funds are received directly on your bank account.

Question 5

Do I need to pass KYC to use Mt Pelerin?

Accepted Answer

No, identity verification is not required to use Mt Pelerin for small amounts. Purchases, swaps and cash outs up to CHF 999 equivalent per month can be completed with no identity verification. Above CHF 999 per 30 days, an identity verification (KYC) is required, which can be completed in minutes directly in the app or web interface and unlocks higher transaction limits.

Question 6

What cryptocurrencies and blockchains does Mt Pelerin support?

Accepted Answer

Mt Pelerin supports 30+ cryptocurrencies across 16 blockchains, including Bitcoin (BTC) on Bitcoin mainnet and Lightning Network, Ethereum (ETH), USDT, USDC, EURC, ZCHF (Frankencoin), BNB, AVAX, POL (Polygon), PAXG, XAUt, DAI, XDAI, frxUSD, fxUSD, GHO, cbBTC, Tezos (XTZ), Celo, Sonic and more. Supported blockchains include Bitcoin, Lightning Network, Ethereum, Arbitrum, Optimism, Base, BNB Chain, Avalanche, Polygon, Gnosis Chain, Tezos, Celo, Rootstock, Sonic, Tempo and zkSync Era. The full list of supported assets and networks is available at mtpelerin.com/supported-blockchains-currencies.

Question 7

What fiat currencies and payment methods are accepted?

Accepted Answer

Mt Pelerin supports 18 fiat currencies: AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, JPY, MXN, NOK, NZD, PLN, SEK, SGD, USD and ZAR. Accepted payment methods include Swiss bank transfer (SIC) in CHF, SEPA transfer in EUR, SWIFT international wire transfer, cash at Swiss Post office branches, cash at SBB railway ticket vending machines, credit card, debit card, Google Pay and Apple Pay. Bank transfer information is static for a given crypto, network and destination wallet address, enabling users to set up automated recurring purchases and DCA strategies via standing orders.

Question 8

Is Mt Pelerin self-custodial? Does it hold my crypto?

Accepted Answer

Mt Pelerin is a non-custodial service, meaning that it never keeps your funds. All purchases are delivered directly to the self-custodial wallet address you provide (Bridge Wallet, Ledger, Trezor, MetaMask, or any other wallet). Similarly, when selling crypto, you send directly from your own wallet. Mt Pelerin acts solely as an exchange intermediary: it converts your funds between different fiat and cryptocurrencies and routes them directly to your bank accounts and your wallets.

Question 9

What are Mt Pelerin's fees?

Accepted Answer

Mt Pelerin's unique fee is a commission taken on each currency conversion, which decreases with the user's annual exchange volume. For bank transfer operations, this fee is 0% on the first CHF 500 (or the first CHF 1,000 if the user has a referral code), then 1.3% from CHF 501 to CHF 5,000, 1.1% from CHF 5,001 to CHF 50,000, 0.9% from CHF 50,001 to CHF 1,000,000, 0.7% from CHF 1 million to CHF 10 million, and 0.6% above CHF 10 million. The exception for bank transfer purchases and cash-outs are for ZCHF and fxUSD, which are 100% free of exchange fees. For crypto-to-crypto swaps, the exchange fee is 0.3% except for USDC-to-USDC bridges which are completely free. The fee for card purchases is between 2.5% and 3.8%. MPS token holders can enjoy free exchange up to CHF 50,000 per year.

Question 10

What is the crypto IBAN and how does it work?

Accepted Answer

Mt Pelerin's crypto IBAN is a bank account number (IBAN) labeled in the name of the user and linked to a self-custodial crypto wallet address, instead of a traditional bank account. It lets you receive fiat bank transfers directly converted into crypto in one's own wallet, and send fiat bank transfers to anyone (rent, bills, salaries, suppliers, relatives) using crypto funds from one's own wallet. It allows to use a crypto wallet like a bank account to send and receive payments without any visible notion of cryptocurrency in the transactions, while remaining in self-custody of the funds. Up to two IBANs per user are available, available to individuals and companies.

Question 11

In which countries is Mt Pelerin available?

Accepted Answer

Mt Pelerin can accept users worldwide, with the exception of US persons and residents in the following countries: Afghanistan, Angola, Bangladesh, Belarus, Burkina Faso, Burundi, Central African Republic, Cuba, Democratic Republic of the Congo, Guinea, Guinea-Bissau, Haiti, Indonesia, Iran, Iraq, Lebanon, Libya, Mainland China (Hong Kong and Taiwan accepted), Mali, Myanmar, Nicaragua, Niger, North Korea, Russia, Somalia, Sudan, South Sudan, Syria, Trinidad and Tobago, the United States, Venezuela, Yemen, Zimbabwe.

Question 12

Can I open a bank account in Switzerland and cash out my crypto on it?

Accepted Answer

Yes, foreign residents can open bank accounts online in multiple Swiss retail banks, usually for an extra monthly fee, then use Mt Pelerin to cash out their crypto funds on it. For large cash outs worth $1 million or more, Mt Pelerin can take care of the opening of a new account in its network of Swiss private bank partners at no extra cost and cash out funds there. Those private banks can then provide wealth management plans and tax advisory.

Question 13

Will Mt Pelerin report my transactions to tax authorities?

Accepted Answer

Not currently. Switzerland has not yet implemented any automatic exchange of crypto asset information with foreign tax authorities. Mt Pelerin does not report transaction data to any tax administration at this time. However, this will change in the future: Switzerland is expected to implement CARF (the OECD Crypto-Asset Reporting Framework) with effect from 2027, with the first automatic data exchange covering 2027 transactions shared with foreign tax authorities starting in 2028. This framework will not apply retroactively, transactions made before the implementation date are not in scope. Mt Pelerin will communicate clearly to its users when and how these reporting obligations come into effect.

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