Share is for creators who create premium digital audio and video experiences. Through the Share dApp you can distribute your content directly to consumers (peer-to-peer) under terms and at a price you choose. Each time a user pays for access to your content, you and other owners of the content receive a royalty payment to your wallets. Gone are the days when you wait 3-6 months to receive your royalty payments. With Share, streaming royalty payouts are automatic, instant, and are publicly available to view on the blockchain.
Introduction
Share is for creators who create premium digital audio and video experiences. Through the Share dApp you can distribute your content directly to consumers (peer-to-peer) under terms and at a price you choose. Each time a user pays for access to your content, you and other owners of the content receive a royalty payment to your wallets. Gone are the days where you wait 3-6 months to receive your royalty payments. With Share, streaming royalty payouts are automatic, instant, and are publicly available to view on the blockchain.
This article overviews the process to convert your crypto into fiat currency.
Prerequisites
Congratulations, you’ve deployed your smart contract content and consumers are paying for access to your content. Now, you may want to convert the cryptocurrency in your wallet into fiat currency such as USD (United States Dollar). This is called off-ramping.
Off-ramping is the process of converting cryptocurrency back into fiat currency. This is done by selling cryptocurrency on an exchange and receiving payment in fiat currency.
*A Coinbase Exchange account is different from a Coinbase Wallet. You access Coinbase exchange account from www.coinbase.com
If you have MATIC on the Polygon Network in your Metamask Wallet and you're looking to off-ramp by using the Coinbase exchange. Here's how:
A.) Locate your Polygon MATIC Address on Coinbase Exchange.
B.) Send MATIC from your MetaMask to Coinbase Exchange.
C.) Sell crypto and cash out on Coinbase Exchange
A.) Locate your Polygon MATIC Address on Coinbase Exchange.
1.) Login to Coinbase Exchange account: If you don't have one already, sign up for a Coinbase account.
a. Verify your identity: To comply with regulatory requirements, Coinbase requires you to verify your identity before you can buy or sell cryptocurrency.
b. Add a payment method: To on-ramp/off-ramp your crypto, you'll need to add a payment method, such as a bank account, debit card or credit card.
2.) Select “Send & Receive” in the upper-right corner.
3.) Select “Recieve” in the pop-up.
4.) Select the dropdown and select “Polygon”, then select “Polygon Network”.
5.) After you select “Polygon MATIC Wallet” and “Polygon Network”, select the Copy Icon to copy your MATIC ADDRESS.
Keep this address handy, this is the address we will be sending funds in step B3.
B.) Send MATIC from your Coinbase Wallet to your Coinbase Exchange.
1. ) Open your Coinbase Wallet and select MATIC. Confirm that your MATIC tokens are on the Polygon Network.
2.) Scroll down and select “Send”.
3.) Enter the amount and select “Next”. In this example, 1.01 MATIC is being sent.
** We suggest sending a small amount of MATIC first before you send larger amounts to ensure the address information is accurate.
4.) Paste your Coinbase Exchange MATIC address copied in step A5 into the “Send To” section.
5.) Carefully review confirmation details to make sure everything is correct, then select “Send”.
6.) Check your Coinbase Exchange for deposit notifications.
C.) Sell Crypto and Cash Out on Coinbase Exchange
To cash out your funds, you first need to sell (exchange) your cryptocurrency for fiat currency, then you can either transfer the funds to your bank or buy more crypto.
Sell cryptocurrency for cash:
1.) In your Coinbase Exchange, select “Buy & Sell”.
2.) On the “Sell” tab, select the asset you want to sell and enter the amount.
3.) Select “Preview Sell”, then “Sell now” to complete this action.
4.) Select your cash balance under “My Assets”.
5.) On the “Cash out” tab, enter the amount you want to cash out and then select “Continue”.
6.) Choose your cash out destination and then select '“Continue”.
7.) Review confirmation and select “Cash out now” to complete your transfer.
Congratulations. You’ve successfully off-ramped your cryptocurrency!
Next
Want more detail? Visit our Share documentation.
Have questions or need help? Contact us at info@formless.xyz or visit us on Discord.