For you to receive payments from Coil Members, you must have an account with a digital wallet that supports Interledger. Interledger is what Coil uses to send payments, so your wallet provider must support Interledger to receive those payments.
Currently, you can choose from:
|Wallet Provider||Supported Withdrawals|
|GateHub||Defaults to XRP but can be exchanged for any currency supported by GateHub|
|Uphold||USD, EUR, GBP, CAD, PLN, XRP, BTC, ETH, +59 more (see full list)|
Before you can withdraw funds from your wallet, you must prove you are who you say you are.
Regardless of the wallet provider you choose, it will take them some time to verify your identity.
After you open an account with a supported wallet provider, they will assign you a payment pointer. A payment pointer is required for you to web monetize your content. It's what our extension uses to tell us where to send your payments.
For more information, check out our payment pointer overview.
Coil no longer supports the following wallets:
- XRP TipBot
- What is Interledger? Why does my wallet provider need to support Interledger?
- Does Coil use cryptocurrency? Can I get paid in XRP, USD, etc.?
- Can I use my bank account to receive payments from Coil?
What is Interledger? Why does my wallet provider need to support Interledger?
Interledger is an open protocol suite that Coil uses to send payments. As such, digital wallet providers that want to accept payments from Coil must also support with Interledger. You can learn more about Interledger at interledger.org.
Does Coil use cryptocurrency? Can I get paid in XRP, USD, etc.?
Coil initially calculates payout rates in USD. If your wallet provider is Uphold, you'll receive your payout in USD. If your wallet provider is GateHub, Coil converts the amount to XRP before delivering it to your wallet.
Both wallets allow you to exchange the amount you receive into some other currency before withdrawing it. The total amount you withdraw then depends on the exchange rate.
Can I use my bank account to receive payments from Coil?
No. Unfortunately, banks don't support the Interledger technology that Coil uses to send payments.