Withdrawals
How can I withdraw the funds that I have received?
Our default setting is immediate withdrawal. As soon as a customer pays you, the funds will immediately be withdrawn from your smart contract to your wallet.
Each withdrawal is a blockchain transaction, which will incur gas fees, so some merchants prefer to withdraw in batches to reduce these fees. You can go to Account settings > Auto-withdrawals to set the duration for automatically transferring the crypto you accumulate from your smart contracts to your crypto wallets.
These are your options:
Immediately (default): As soon as a customer pays you, the funds will immediately be withdrawn from your smart contract to your wallet. If you change from Immediately to other options, the moment you change back to Immediately, the funds accumulated in your smart contract will be transferred to your wallet.
Every 30 minutes: The funds will accumulate in your smart contracts and get sent to your wallets every 30 minutes.
Every 60 minutes: The funds will accumulate in your smart contracts and get sent to your wallets every 60 minutes.
Every 90 minutes: The funds will accumulate in your smart contracts and get sent to your wallets every 90 minutes.
Claim manually: The funds will accumulate in your smart contracts. You can withdraw it to your wallet whenever you want.
To claim manually, log into your Fizen Pay account to withdraw your funds and click on the “Withdraw” button next to the cryptocurrency you want in the Balances page. A dialog box will pop up to confirm your withdrawal.
Where do the funds I withdraw go?
When a customer pays you, the funds will go to your Smart Contract. When you withdraw them, they will go to your wallet. This is the wallet you created when you signed up for your account. It is important that you save the secret phrase of that wallet securely so that you can maintain access to your funds.
Why do I have to pay a network fee to withdraw and how much is this fee?
A network fee is required so that your transaction is processed by the decentralized cryptocurrency network. This fee does not go to Fizen Pay but to cryptocurrency miners, as an incentive to keep the network secure and include your transaction in a block. There are a number of network-dependent factors that are used to calculate a withdrawal fee, making it difficult to predict these fees in advance. However, withdrawal fees for most currencies are normally under $1.00.
Each withdrawal will incur gas fees. You can choose to withdraw in larger batches to reduce the gas fees. Please go to Account settings > Auto-withdrawals to set the duration to automatically transfer your crypto from Fizen Pay contracts to your crypto wallets. You can set it to immediate auto withdrawal or to every thirty, sixty or ninety minutes. Alternatively you can also claim manually.
Is there a minimum amount that I need to withdraw?
As long as the amount exceeds the gas fee needed to withdraw it, then you can make the withdrawal.
Is there a maximum amount that I can withdraw?
There are no limits on withdrawals on Fizen Pay – you can withdraw all of the funds that you have received at any time.
Where can I see the history of my withdrawal from smart contracts to my wallet?
On the Balances page, in the Balances in Smart Contract section, click on the History button next to crypto currency whose withdrawal history you want to see.
You will be able to see the date, amount, and status of the withdrawal.
Status
Success means the funds are successfully sent to your crypto wallet.
Failure means the transaction failed and the funds are still in your smart contract. You can try withdrawing them again.
Transaction submitting means the transaction is being sent to the blockchain to be included in a block.
Blockchain confirming means the blockchain is validating your transaction.
Is it possible to convert my cryptocurrency into fiat or link a bank account?
Yes, Fizen Pay supports you to convert your received crypto to fiat. To check what local currencies are supported, please email business@fizen.io.
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