This educational article will guide you through how to off-ramp your cryptocurrency using the SafeMoon Wallet.
Step 1: Log into your SafeMoon Wallet and Tap “Buy/Sell.”
To begin, you will need to access your SafeMoon Wallet. Once you've logged into your SafeMoon Wallet, locate the "Buy/Sell" button on the main screen.
Tap the Buy/Sell button to proceed to the next step.
Step 2: Select the token type and amount you wish to sell. Tap “Continue.”
In this step, you'll select the token type you plan to sell. Once you've selected the token, enter the amount that you want to sell. After you've entered the amount, tap the "Continue" button to move on to the next.
Step 3: Complete the Moonpay registration for new users or login for existing Moonpay users
Next, you'll need to create a Moonpay account or log into your existing account. Moonpay is the platform that facilitates the sale of your crypto tokens for fiat currency.
If you're a new user, you'll need to complete the registration process. This typically involves providing basic personal information and verifying your identity. Existing Moonpay users may simply log into their accounts.
Step 4: Create your sell order by tapping “Sell Now.”
For this step, you'll create your sell order by tapping the "Sell Now" button. During this step, you’ll notice MoonPay has generated an estimate of how much you'll receive for the sale of your tokens and the amount of the selected token you'll be selling.
For example, if you're selling 0.2 Smart Chain BNB for $55.50, Moonpay will display this information for you to review before proceeding.
Step 5: Pending - Wait for MoonPay to generate the deposit wallet address.
In this step, you'll need to wait for Moonpay to generate the deposit wallet address. This is the address to which you'll need to send your selected tokens in order to complete the sale. The "Pending" screen will display while the deposit wallet address is being generated.
(Note: This could take some time. You do not need to be concerned about keeping the screen open. You will receive updates via your Moonpay registered email address, or you may log into your MoonPay account at any time to view your order status and, once generated, obtain the deposit wallet address.)
Step 6: Send your selected tokens for sale to the generated wallet address.
In this step, you'll need to send the tokens you wish to sell to the generated deposit wallet address.
CAUTION: It is important to be sure you’ve copied the correct wallet address before proceeding. It is good practice to check that the pasted address matches the generated address, as crypto sent to the wrong address cannot be retrieved.
Copy the generated wallet address.
Re-open your SafeMoon Wallet.
Tap “Send” and select the token you plan to convert/sell.
Paste the generated wallet address, and enter the token amount you planned to convert/sell.
Final Step: That’s it. Once MoonPay receives the crypto you sent, they will deposit the equivalent fiat currency into your bank account.
This process can take up to 2 to 4 business days. You may monitor the status of your deposit by logging into your MoonPay account. Once the bank transfer requisition is complete, you will receive a confirmation email from Moonpay.
We hope this article has helped guide you through the process of off-ramping your cryptocurrency using the SafeMoon Wallet. For more information on SafeMoon or crypto in general, visit SafeMoon.education.
Please be advised that this is meant to be used for informational and educational purposes only. All information should be used as such and not be treated as financial advice. Before making any financial decisions, it is important to complete your own due diligence. Thank you.