How do payouts work?



Seller Payouts (using Bitwage)

Overview

A seller is now able to receive payout of coin balances that exceed a minimum of 100 coins ($10). 

Payout rate is $0.10 per coin. 

Withdrawals can be made by request anytime. 


Getting Started

Go to your Coins page and request an invitation for a Bitwage account. 

SP will email you an invitation to sign up. Click the invite link to sign up for an individual worker account with Bitwage

Once you have logged into Bitwage dashboard and entered your brief profile details, you’ll be able to link your bank account (not necessary for crypto) and set a distribution (where you want to send your money). Choose either Digital Currency and/or Bank Transfer.


Methods of Withdrawal from Bitwage

Bitcoin and/or Bank Transfer

Follow the Bitwage instructions to link your bank account or Bitcoin account.

https://support.bitwage.com/article/16-set-distribution-for-internal-or-external-employer


Local Currency Withdrawals

To withdrawal in your local currency, please see the list to see if your country is supported.


Invoice Distributions Supported by Bitwage

  1.  Philippine Outputs ( via Coins.ph) 
  2. Brazilian Outputs 
  3. Indian Outputs (via Giottus.com)
  4. Mexican Outputs (MXN Bank Deposit)
  5. Argentine Outputs (ARS Bank Deposit)
  6. Ukraine Outputs (UAH Bank Card Deposit--personal only)
  7. United Kingdom and Northern Ireland Outputs (GBP Bank Deposit)
  8. United States Outputs (USD Bank Deposit - ACH Credit)
  9. 34 SEPA Zone countries (EURO Bank Deposit - SEPA Credit). SEPA Countries. (EU + EEA + others with agreements): Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, Bulgaria, Croatia, the Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, United Kingdom, Iceland, Liechtenstein, Norway, Monaco, San Marino, Switzerland.

** Bitwage Fees: Bitwage applies 1% service fee to of the amount withdrawn to your linked bank account for local currency distributions.

*** If your country is not listed (Canada, Australia, etc), fear not! Please use the alternative method here on how to transfer your funds from your Bitwage account with Transferwise.


Timing

SP is currently running once daily payouts. Deadline for processing is 8:00AM EST. Any request made after 8:00AM EST will be processed on the next business day.

Once received in your Bitwage account, you can start a transfer from Bitwage to your bank account (1-2 business days).