New in the Coinfinity app: When you sell Bitcoin from your in-app wallet, the app sends the Bitcoin to us automatically after the sale. Until now you had to switch to the wallet, copy our address and enter the amount yourself. That is no longer necessary: you confirm the sale, and the app does the rest.
This requires the latest version of the Coinfinity app. You can update it in the App Store or on Google Play.
How the sale works
Tap "Trade" and then "Sell".
Select your in-app wallet. You will find it under "On This Device".
Enter the amount you want to sell. Below the input field you can see the maximum you can sell: your balance minus the network fee. If you want to sell everything, tap the available amount ("Available: …").
Choose the bank account for the payout.
Check the details and tap "Sell bindingly".
The app sends your Bitcoin
After "Sell bindingly", the app takes over: it creates the transaction from your in-app wallet and sends the Bitcoin to us. This only takes a moment. As soon as the transaction is on its way, you will see "Transaction sent". There is nothing else you need to do.
What happens next?
"Close" takes you to the details of the transaction in your wallet. There you can see the status, the transaction ID and the note: the app automatically enters the order number of your sale there. This way you can always tell which transaction belongs to which sale.
Once the transaction has received several confirmations on the Bitcoin network, we release the payout. The euro amount usually arrives in your bank account within a few hours, and you will receive an email from us.
Good to know
Network fee: Sending incurs a network fee, which is paid from your wallet. The app already takes it into account in the available amount.
High fees: If the network fee is unusually high compared to the sale amount, the app will warn you before the sale. You can then cancel or continue anyway.
Sending failed: If the app could not send the Bitcoin, for example because of a poor internet connection, it will tell you. You can try again or send the Bitcoin manually to the address shown. Your order remains in place.
External wallets: When selling from an external wallet, you still send the Bitcoin yourself to the address shown.