How to withdraw Stablecoins (USDT or USDC)?

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

Application and Approval Process for Stablecoin 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 Stablecoin payout. Adherence to these guidelines ensures a secure and verified method of withdrawing your earnings in USDT or USDC, 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 Stablecoin under "Payout Choices" and select which Wallet you want to connect to Gameflip

Then you will be required to send the documents for verification. We require a valid phone or utility bill that displays the address linked to your Gameflip account to approve all Stablecoin payout applications. Make sure all information input is correct and accurate, as you will not be able to change any information once approved. 

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.

Note: the Ethereum (Wallet) address and its provider will come filled with your Wallet information.

The US anti-money laundering law requires us to collect and store account holder identity information for Stablecoin payout. Your identity information will only be used for processing Stablecoin 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 input 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 Stablecoin application has been approved, you'll be able to request a withdrawal from your Cash Balance as USDT or USDC. To request a withdrawal, please follow the steps outlined below:

Website

• Go to Menu > Wallet > USD Wallet > Withdraw
• Click Stablecoin under "Payout Choices", then select which Stablecoin you will withdraw, and select your Wallet Address
• Enter the amount in the "Payout" section and press "Confirm Payout"

Once you've requested a withdrawal, stay tuned to your wallet as you need to confirm the amount of Gas Fees you will be paying for the transfer. Once confirmed, your payout will be processed.

Payout Restrictions

- The Stablecoin payouts will have the following restrictions:
- Up to $1,000.00 per payout request
- Up to $2,000.00 within a rolling 7-day window

For example: If a seller requests two payouts of $1,000.00 for two consecutive days, he/she will have to wait 6 days to be able to request up to $1,000.00 (referring to the first payout they made).

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

Transfer Fees

The fee rate is shown at the time of withdrawal. We strive to keep fee rates stable, but the Gas Fees can vary wildly at times. Hence, although fee rates rarely change, they can change when paying the gas fees in your wallet.

USDC withdrawal requests are available for amounts equal to or greater than $100 USD.