For you to receive payments from Coil, 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||Defaults to USD but can be exchanged for any currency supported by Uphold|
Coil will send your earnings in USD to your wallet provider. If you use GateHub, they will convert the USD into XRP and then deposit the XRP into your wallet. You can then choose to exchange the XRP for any other currency supported by GateHub. Similarly, Uphold will convert the USD into whatever currency you selected as your To account when setting up your wallet. You can then choose to exchange that currency for any other currency supported by Uphold.
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.
- 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 pays out in USD. What happens after that depends on your digital wallet.
If you use GateHub, they automatically convert the USD payout into XRP. If you want to exchange your received XRP into a different currency, you have the option to do so. Similarly, Uphold automatically converts the USD payout into whatever currency you selected when you set up your wallet. If you want to exchange it for a different currency, you have the option to do so. If you need help exchanging your currency, please contact your digital wallet provider.
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.