Payouts
Automatically cash out bitcoin with zero exchange rate risk
Automatically cash out bitcoin with zero exchange rate risk
Coinbase sends payouts to your local
bank account once per day when you enable automatic payouts. You can also
manually sell bitcoin at any time from the sells page.
As a merchant, you never need to
hold bitcoin or expose yourself to any exchange rate risk if you don't want
to.
Most merchant set prices in their
local currency and receive payouts in their local currency. For this service
(Instant Exchange) we charge 1% plus $0.15 to convert the bitcoin you receive
into your local currency (the same price if you manually sell bitcoin).
If you wish to get paid in and keep
bitcoin, this is completely free.
How
does our Instant Exchange work?
When you enable Instant Exchange,
bitcoin you receive for merchant orders can be immediately sold to Coinbase at
the current sell price, locked in at the time of your customer's purchase. This
ensures that your sale of bitcoin to Coinbase will pay you the exact local
currency price that you set in the merchant tools, less applicable fees.
Orders processed via Instant
Exchange will not show in your transaction list. You will however, see them on
your merchant
order page and in your exported
order history.
Let's look at an example. Suppose
you create a payment button with a USD price of $10, and sell ten orders during
the day. If you have Instant Exchange enabled, your payout at the end of the
day will be for $100 USD, regardless of how the price of bitcoin changed during
the day. After deducting our 1% fee (plus $0.15 for the bank transfer) you will
receive $98.85 to your bank account.
Right now the only supported payout
option is USD to a bank account. However, options for other countries are planned.
Setting
Up Automated Payouts (requires sign in)
1.
Link and verify a bank account
2. Visit the merchant settings page and check the box for Instant Exchange
3. Payouts arrive to your bank account within two business days
When
are payouts sent?
Payouts are sent at 2pm Pacific Time
each day and will appear in your account within two business days.
Maintaining
a minimum balance in Bitcoin
Merchants also have the option to
keep a minimum balance in bitcoin.
If your balance is below the
minimum, orders that you will receive will be kept in bitcoin until you reach
or exceed your minimum balance. After that, orders will be "instant
exchanged" as described above.
Some merchants prefer to keep a
portion of their revenue in bitcoin so they can avoid the "instant
exchange" fee. If you have any suppliers, contractors, or employees who
are willing to accept bitcoin, you can then pay them directly in bitcoin
instead of cashing out and save yourself the fee.
Maintaining
a percentage of orders in Bitcoin
Merchants also have the option to
keep a percentage of incoming orders in bitcoin.
You can set a percentage that you
would like to keep in bitcoins on the settings page, the rest of your orders
will be "instant exchanged" as described above.
Some merchants prefer to keep a portion of their
revenue in bitcoin so they can avoid the "instant exchange" fee. If
you have any suppliers, contractors, or employees who are willing to accept
bitcoin, you can then pay them directly in bitcoin instead of cashing out and
save yourself the fee.
