Can I change my settlement from fiat currency to BTC and then back again to fiat currency whenever I want?
Posted by Coinify on 04 August 2015 03:40 PM
Yes, you can change between BTC and fiat whenever you want, as long as you have both a bitcoin wallet and a bank account added to your payout accounts.
In order to do so, you simply log in to your Coinify Merchant Account, click on Payment Settings and choose between the two available options - found under Account Crediting:
1. Convert to Account Currency, if you want your account accrued balance to be in your Coinify Account Currency
2. Keep Bitcoin, if you prefer Bitcoin payouts.
In both cases, remember to scroll down and click on Save Changes.
If you change to Bitcoin, make sure that you have the correct Bitcoin wallet address entered in your account! Respectively, after you have changed your payout to Bitcoin, your new payments will also be received in Bitcoin.
If you already have EUR or any other FIAT currency in your account, this amount will remain in your account balance until you change back to Fiat Payout and reach your minimum payout amount, or you can request your fiat balance to be converted to bitcoin by agreeing to do this on the current available Market rate.
Bitcoin payments will be settled in Bitcoin and will not be automatically exchanged if you change back to fiat payout.
If you change to Convert to account currency make sure to check the additional options placed below and tick also "Partial" and "Extra/late" payments if you want to convert them as well.