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How do I withdraw my funds after transferring USDC from the DC NFT Marketplace to an exchange account?

Julian Perez
  • Updated

You can withdraw your funds from the DC NFT Marketplace by transferring your USDC to your Coinbase account or any other exchange account you use. Many exchanges offer the ability to convert USDC into your preferred fiat or digital currency. Once your USDC is transferred from the DC NFT Marketplace to your exchange account, you can convert your USDC to USD, or other preferred fiat currency, and withdraw (cash out) those funds to your bank account.

USD Coin (aka USDC) is a digital currency that is fully backed by U.S. dollar assets. USDC is a type of cryptocurrency that is referred to as a "stablecoin." You can always redeem 1 USD Coin for US $1.00, giving it a stable price. The value of USDC is designed to remain stable, thus why USDC is called a stablecoin! Despite its name, it is important to note that USDC is not issued or backed by the U.S. government.

 

Withdrawing funds from a Coinbase Account (or another exchange)

Please note that most exchanges function similarly, so we have used Coinbase as an example. Please reach out to our support team if you have any questions.

  1. If you don’t already have a Coinbase account, please set one up now. For help, here are instructions to help you create a Coinbase Account.
  2. Once your account is created, find your Coinbase deposit address by following the instructions here. Make sure you select USD Coin as the asset and Ethereum as the blockchain as shown in the image below. Copy your deposit address for the next step.

 

  1. To withdraw your Credit Balance as USDC, head to the DC NFT Marketplace and follow the instructions from our guide: How do I withdraw funds via USDC transfers from the DC NFT Marketplace? Paste your deposit address from Coinbase in “Step 2: Address Info” of the flow where your USDC on Ethereum address is requested.
  2. Once you have received your USDC in your Coinbase account, you can sell your USDC for fiat and transfer it to your bank account as explained here: Cash out your funds on Coinbase to your bank account.

For additional questions, please refer to our Withdrawals FAQs page.

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