You must set up an account with a digital wallet that supports Interledger to receive payments from Coil. Currently, you can choose from:
Defaults to XRP but can be exchanged for any currency supported by GateHub
USD (Local regulations prevent Stronghold from supporting certain countries and regions. Check out their help article for more information.)
USD, EUR, GBP, CAD, PLN, XRP, BTC, ETH, +59 more (see full list)
Your wallet provider will assign you a payment pointer. A payment pointer is a public address for your wallet that you can share with anyone that wants to make a payment to you. Learn more at paymentpointers.org.
After you receive your payment pointer you must add it to your Coil account. Otherwise, we won't know where to send your payments!
The format of a payment pointer is similar to a URL, but starts with a $. Here are some examples:
A payment pointer is a public address assigned to you by your digital wallet provider. After you receive your payment pointer you must add it to your Coil account. The pointer tells us where to send your payments. Learn more at paymentpointers.org.
No, not at this time.
Yes. Click Change within your account's Payouts settings.
Changing your wallet or payment pointer won't transfer any balances in your old wallet to your new wallet.
Coil initially calculates your payout rate in USD. If your digital wallet provider is GateHub, we convert the amount into XRP before delivering it to your wallet via the Interledger protocol (ILP).
Depending on your wallet, you might be able to exchange the amount you receive to some other currency before withdrawing it. The total amount you withdraw then depends on the exchange rate.
No. Banks don't currently support the technology that Coil uses to send micropayments.