How to withdraw to Bitcoin?

Withdrawing your Cash Balance to Bitcoin on Gameflip requires an initial application and subsequent approval. Once you're approved, you can seamlessly request Bitcoin withdrawals. If you're interested in this payout option, here’s how to get started:

Application and Approval Process for Bitcoin Payout:

1. Eligibility Requirements: Before applying, ensure you've successfully sold at least 20 items on the Gameflip marketplace. Additionally, your Gameflip wallet must have a minimum balance of $100.
2. Identity Verification: Part of the application involves verifying your identity. This step aligns with Anti-Money Laundering (AML) and Know Your Customer (KYC) policies aimed at preventing fraudulent activities. You will be asked to provide personal information and submit supporting documents.

Completing these steps initiates the application process for Bitcoin payout. Adherence to these guidelines ensures a secure and verified method of withdrawing your earnings in Bitcoin, enhancing the flexibility and options available for accessing your funds.

Web/Mobile Web

• Go to Menu > Wallet > USD Wallet > Withdraw (https://gameflip.com/wallet/usd/withdraw)
• Click Bitcoin under "Payout Choices" and the "Apply new Bitcoin Payout". 

We require a valid phone or utility bill that displays the address linked to your Gameflip account to approve all Bitcoin payout applications. 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 addresses will result in loss of funds.

Bitcoin Account Holder Info

Lastly, you'll need to complete the form below with your full legal name, date of birth, ID number a photo of the front and back of your ID (scanned IDs will not be accepted), and pictures of your phone bill. Acceptable IDs include a 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. 

Request the Payout

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:

Website

• 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.

Payout Restrictions

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 a 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 they made).

NOTE: the restriction also applies to PayPal

If you reach such a restriction, you may select another payout method that fits your needs.

Exchange Rates

Bitcoin exchange rate will be determined at the time of when the payout occurs, NOT when the withdrawal request occurs - BTC payout occurs during business days (Monday through Thursday), meaning that if you request a payout during a Friday to Sunday or a holiday, the exchange rate you will see will be from the next business day.

This means that depending on the exchange rate, you may receive more or less than expected at the time of the withdrawal request. Note that different wallets may use different exchange rates and exchange rates are always converted from USD > BTC.

Transfer Fees

The fee rate is shown at the time of withdrawal.  We strive to keep fee rates stable, but bitcoin fees can vary wildly at times.  Hence, although fee rates rarely change, it can change when the Bitcoin transfer fee fluctuates wildly.

Bitcoin withdrawal requests are available for amounts greater than $100 USD.