How To Use Tether To Monetize Your Skins
With the help of Coinbase, a new era dawns upon Skinwallet services. We’re very happy to let you know that you can now pay out your market balance with Tether. Here’s a short guide on how to do it.
What is Tether?
Tether is a stablecoin currency released by Tether Limited. Its value is anchored in the real world currencies, mostly US dollars. It is much renowned as an online payment service.
With the use of Coinbase, you can later pay out your Tether balance to a range of other payment methods. You can either pay it out to a currency of choice using payment cards or via a wire transfer. You can also exchange it for other stablecoins or cryptocurrencies available in the service.
What do I need?
There are two prerequisites to paying out with Tether:
- A verified Coinbase account with a Tether ERC-20 wallet.
- A withdrawable balance of at least $500.
How do I pay out?
Follow these steps to pay out:
- While logged into the SW Market, go to your WALLET.
- Check if your WITHDRAWABLE balance is equal or higher than $500.
- Click the PAYOUT option.
- Choose Tether ERC-20 as your payout method and click NEXT.
- Type in your Coinbase Tether Wallet address and click PAYOUT.
- Wait for the transfer to be processed.
And that’s it!
Should I know anything else?
WARNING! Currently the only blockchain used for Tether payouts is ERC-20.
Keep in mind that Tether ERC-20 payouts might take up to 72 hours to be processed. The Coinbase fee for processing Tether transactions is 1% of the transaction’s value.
I’m still confused…
No problem at all – if something’s amiss or you’re not sure about any step of the process, just contact our support team via the message box available in the top right menu of SW Market.