If you are already a cryptocurrency user, the great news is that you now can make purchases on Gameflip with the supported stablecoins, in addition to FLP tokens. Currently Gameflip supports only USDC and USDT on the Ethereum blockchain.
To make purchases with stablecoins, follow the steps below:
- Deposit USDC or USDT into your respective USDC or USDT Gameflip wallet
- Convert the stablecoins into USD funds
- Use your USD funds at checkout
Important: Once the stablecoins are converted to USD funds, it is not reversible. However, the deposited stablecoins can be withdrawn any time if not converted.
Introducing Stablecoin Wallets
Gameflip now supports multiple wallets, one per currency. Your primary wallet for buying and selling remains the USD Wallet. If you use cryptocurrencies, we now have USDC and USDT wallets that you can deposit and withdraw to and from the respective USDC/USDT Wallet on Gameflip. Once the balance shows up, you can convert any amount of that balance to your Gameflip USD Wallet. Once the conversion completes, you make purchases within Gameflip's Marketplace.
Please note Gameflip is not a currency exchange, and thus, moving funds among the wallets are not supported, except for facilitating purchases or withdrawal of sale proceeds. Consequently, there are a few restrictions that you must know:
- Conversion from USDC or USDT to USD Wallet is not reversible. Similarly, you cannot convert your USD funds to any stablecoins. You can still withdraw your sale proceeds using the respective providers, including any supported stablecoins methods. See withdrawing sale proceeds for more detail.
- Sale proceeds are only available in the respective accept currency. If your listing accepts USD (most do), then after the transaction completes, the sale proceeds will appear in your respective wallet (in this case USD Wallet).
- You can withdraw your USDC or USDT wallet balance any time. Specifically, if you had deposited USDC or USDT but did not use it (e.g. did not convert to USD or have any left over), you can withdraw the remaining balance. Any previously converted funds to USD Wallet cannot be converted back for withdrawal.
Making a deposit to your wallet
Follow the steps below to deposit funds into your stablecoin wallets:
- Access the Gameflip wallet and locate the USDC and USDT Wallet widgets. Choose the stablecoin you wish to add and select Deposit:
- A pop-up will appear, and you can choose to connect your Metamask or Coinbase wallet if you haven't previously connected to one:
- Deposit the stablecoin amount you wish into your Gameflip wallet, click on Deposit (blue button), and a pop-up will appear asking you to confirm the transaction within your crypto wallet. Please ensure you pay sufficient Gas to complete the transaction:
- Once you confirm, check your Gameflip wallet in a few minutes to see that the balance has been updated with the amount deposited. When working with blockchains, it may take time for the transaction to complete, so be patient.
Convert your stablecoin funds to USD
Since most listings accept only USD, you must have funds in your USD wallet to purchase those listings. You can make the conversion quickly. The conversion is 1:1, and there is no fees for making the conversion. Please note, however, that conversion is not reversible because the USD Wallet does not allow conversion back to other wallets.
- Once you confirm, check your Gameflip wallet and click on convert (the right side button):
- Enter the amount you wish to convert to USD and check the "I understand...." check box, then click on convert:
- Done! You just converted USDC/USDT to USD, and you can make purchases with it!
Comments
0 comments
Article is closed for comments.