To be able to withdraw your Cash Balance to Bitcoin, you'll first need to apply through Gameflip and be approved. Once approved, you'll be able to request a withdraw to Bitcoin. To apply for the ability to withdraw your Cash Balance to Bitcoin, follow the steps outlined below.
Application and Approval process
In order to apply for Bitcoin payout, you will first need to have at least sold 20 items on the Gameflip marketplace.
When applying for Bitcoin payout, you will need to verify your identity. We'll ask you to provide us with some personal information and supporting documents, according to AML/KYC Policy to prevent fraud causes. Follow the steps below to complete the application process:
- Go to Menu > Wallet > USD Wallet > Withdraw (https://gameflip.com/wallet/usd/withdraw)
- Click Bitcoin under "Payout Choices" and the "Apply new Bitcoin Payout"
Make sure all information inputted is correct and accurate as you will not be able to change any information once approved.
Bitcoin Account Details
You'll need to enter your Bitcoin Address and Bitcoin Wallet Provider next. Warning: You’re responsible for entering your correct Bitcoin address. Incorrect Bitcoin address will result in loss of fund.
Bitcoin Account Holder Info
Lastly, you'll need to complete the form below with your full legal name, date of birth, ID number and a photo of the front and back of your ID (scanned IDs will not be accepted). Acceptable IDs include: Driver’s license, passport or national ID card.
The US anti-money laundering law requires us to collect and store account holder identity information for Bitcoin payout. Your identity information will only be used for processing Bitcoin payout and is encrypted on our server.
Once you've filled out every field on the form, make sure to double check that all information inputted is correct and accurate, then click "Submit Application". Please note that it may take several business days for us to process your application.
Once your Bitcoin application has been approved, you'll be able to request a withdraw to Bitcoin from your Cash Balance. To request a withdraw, please follow the steps outlined below:
- Go to Menu > Wallet > USD Wallet > Withdraw
- Click Bitcoin under "Payout Choices" and enter your Bitcoin information
- Enter the amount in the "Payout" section and press "Confirm Payout"
Once you've requested a withdraw, the request can take up to 4 days to be paid out.
Starting on May 1st, 2019, the Bitcoin payouts will have the following restrictions:
- Up to $3,500.00 per payout request
- Up to $7,000.00 within rolling 7 days window
For example: If a seller requests two payouts of $3,500.00 for two consecutive days, he/she will have to wait 6 days to be able to request up to $3,500.00 (referring to the first payout he/she made).
NOTE: the restriction also applies to PayPal
If you reached such restriction, you may select another payout method that fit your needs.
Bitcoin exchange rate will be determined at the time of when the payout occurs, NOT when the withdraw request occurs. This means that depending on the exchange rate, you may receive more or less than expected at the time of the withdraw request. Note that different wallets may use different exchange rates and exchange rates are always converted from USD > BTC.
Fee rate is shown at the time of withdrawal. We strive to keep the fee rate stable, but bitcoin fee can vary wildly at times. Hence, though the fee rate rarely changes, it can change when the bitcoin transfer fee fluctuate wildly.
Withdrawal Bitcoin requests are available for amounts greater than $100 USD.
|$0.00 to $99.99||Not available|
|$100.00 and above||1% + $2 USD|