Yesterday I made an article on How to withdraw your rewards from Publish0x to Atomic Wallet. Now I would like to extend on that, because, unlike me, who wants to hold my cryptos, there might be others who want to have the money in their "wallets" right away. And there is nothing wrong with that. You might make $20-30 in BAT here each month and you might want to put those money to usage right away, or possibly the price might explode tomorrow to $1 and suddenly those 80-100 BAT to become 80-100 USD which is a sum of money which on some places on the world is pretty significant.
Anyway, let's continue from where we left of in the previous article. You guys are now having the BAT/DAI in your Atomic Wallet and you are looking to turn those tokens to USD/Euros either in your bank account or in your PayPal.
For that you need to have 3 things:
a) Bank account, obviously. With BIC and IBAN. With at least some money in it. Services like Revolut and some other "online banks" are also acceptable.
b) PayPal account.
c) Coinbase account. Requires KYC.
And yes, I do not think there is a way to cash out without KYC at all.
Here's what you need to do.
1) In Coinbase, after completing KYC, and getting your account to Level 1 you need to add your bank account and/or PayPal.
In the top right corner of the dashboard where the avatar is shown(I don't have any), when you press on it a drop down menu will show:
Select "settings" and then go to "Linked Accounts" tab:
There is a button "Link new account", press it:
Then another window will open where you have to select what type of account you want to connect to your Coinbase account:
We are interested in the first two. When you press PayPal option you are taken away to the PayPal website and will have to provide several confirmations until both are connected. Nothing special here. Once done, you will be able to withdraw FIAT to it.
On the 2nd option, Bank Account -> you need to fill some details for your bank account:
Keep in mind this might differ depending on your country of residence. Again there is nothing special. You should know that Coinbase might charge your account with small amount of money - like 50 cents to test and verify that this is the correct account. You do not lose those money, they will either be placed in your Coinbase account or would be sent back to your bank.
2) After you have set your Coinbase account you are ready to transfer your BAT/DAI to CB and then withdraw. It works like that:
Open Atomic Wallet and find the asset you want to move.
Once you get there, press Send and you will get to this Window:
Here you need to fill the address where you are sending(your coinbase BAT/DAI address) and the amount. I would suggest not to touch the "set fee" setting". To get the Coinbase address go back to Coin base and select portfolio and then BAT/DAI.
Once you are on the BAT/DAI page it looks like this:
Select the button on the right side that says "receive", confirm that you understand that you need to send ONLY BAT/DAI to that address:
Press the button with the two squares in the bottom right corner to copy the address and paste that address in the Atomic Wallet send window:
And then press "send". It will take few minutes to have the BAT in your Coinbase account, but it shouldn't take too long.
3) The next step is to sell the BAT you already have in your Coinbase wallet for FIAT. Press on the button "Trade":
And then go to the 2nd tab "Sell":
Here you can either pres sell all, or put specific amount you want. Anyway, Coinbase will show you the stats of the deal:
There is a fee for selling, but you should know that this is like that pretty much everywhere. So nothing strange about that. To complete the sale you will need to provide few confirmations, either by SMS or 2FA depending what security you have set to your Coinbase account.
But that's pretty much it. The FIAT will be deposited to your CB account and you will be able to withdraw from there to bank or PayPay anytime.
4) To Withdraw FIAT, go to your FIAT wallet from Portfolio tab and select the FIAT currency. In my case EUR.
You need to press that Button that is grayed out for me(cause my EUR account is empty) and then select withdrawal method - PayPal or Bank transfer. PayPal is pretty much immediate. However the Bank Transfer might take day or two depending where are you located and which bank's services you are using.
I really hope this will help someone.