Withdrawing Your Microworkers Balance with ONTO
Key Things to Know before Withdrawing Your Microworkers Balance with ONTO:
You can withdraw your Microworkers balance directly to your ONTO wallet as BUSD or into a Prepaid EURO Mastercard.
BUSD
BUSD is a digital currency of type BEP-20, not fiat money
BUSD can be swapped to other digital assets and used for wealth management and investing
BUSD can also be swapped to fiat money on centralized exchanges but will induce a fee and KYC verification may be required
Prepaid EURO Mastercard
To apply for a card, a passport photo is necessary to perform KYC verification
Your application may be rejected
Currencies withdrawn would be automatically swapped to EURO
If you have any question regarding ONTO, please email contact@onto.app.
Withdraw Funds to ONTO
Place a new withdrawal request
Choose ONTO as the withdrawal method
Fill the withdrawal info and submit
Wait for Microworkers to review and approve the withdrawal application
Open ONTO NPay dApp after Approval
Open the NPay dApp in ONTO Once Microworkers approves the withdrawal
Check Available Balance
Click “Withdraw”
Withdraw Balance to ONTO wallet as BUSD
Choose “Withdraw BUSD”
Enter the amount and click “Withdraw”
Enter password to confirm
Add, check and use BUSD + the extra bonus (5 ONG & 0.01 BNB for first-time withdrawal in cryptocurrency) on the Assets page
BUSD (BEP-20)
BUSD (BEP-20) discussed here is a 1:1 USD-backed digital stablecoin issued on BSC (Binance Smart Chain)
Make sure you choose the right receiver when you initiate a transfer of your BUSD
BUSD (BEP-20) can be swapped to other digital assets and used for wealth management and investment
Add BUSD (BEP-20) to ONTO Assets page
Click the plus sign on the Assets page
Then enter BUSD to search
And then click the plus sign/check on the right side of the search result to add it
BNB (BSC)
BNB (BEP-20) discussed here is a digital coin on BSC (Binance Smart Chain)
Make sure you choose the right receiver when you initiate a transfer of your BNB
BNB (BSC) is the native coin of BSC (Binance Smart Chain), it is used to fulfil transaction fees
A balance of about 0.0008 BNB is needed to successfully initiate a transaction
Each transaction costs about 0.0002 BNB
First-time users who withdraw BUSD on ONTO Wallet will receive 0.01 BNB as a bonus
You can get more BNB (BSC) on digital currency exchanges
Decentralized exchanges such as BakerySwap (see tutorial on the next page)
Centralized exchanges such as Binance (https://www.binance.com/en/support)
Swap BUSD to BNB on BakerySwap with ONTO
Open BakerySwap on the “Market” page
Click “Exchange”
Select token “BUSD” and “BNB”
Click “Approve BUSD”
Swap: Click “Swap” and then “Confirm Swap”
Swap BUSD (BEP-20) to Fiat Money
Laws and regulations on digital currency varies in different countries or regions, please make sure you abide by the related laws and regulations
BUSD (BEP-20) can be swapped to fiat money on centralized exchanges where users may need to perform KYC verification
Swap BUSD (BEP-20) to fiat money directly on Binance: https://www.binance.com/en/support
BUSD (BEP-20) can also be swapped to other digital currency, and then swapped to fiat money on exchanges or OTC (over-the-counter) trading platforms
Withdraw to a Prepaid EURO Mastercard
Disclaimer
To apply for a card, please prepare a passport to perform KYC verification
Application forms are reviewed by Railone, not ONTO
Applications may be rejected
Currencies withdrawn will be automatically swapped to EURO
Management Fee: 1 EURO/Month
Charged by Railone
Cards will turn inactive if management fees are not paid for 6 months
Current Promotion: 1 EURO/Month
Provided by ONTO
Equal to monthly management fee
Will be sent directly to your card in the following month
Apply For a Prepaid EURO Mastercard
Click “Linked Cards” and login on the Railone page
Fill out the form to apply for a prepaid EURO Mastercard (first time users only)
Withdraw Balance into a Prepaid EURO Mastercard
Choose “Withdraw to MasterCard” once the application is approved
Enter the amount and click “Withdraw”
Enter password to confirm
Double check the MasterCard info
Spend the balance with the card number and CCV on shopping websites
Generate and View VC (Verified Credential)
Click “Transactions” at NPay main page
Click “Generate VC”
Enter password to confirm and wait until “Success”
Go back and Click “Linked Accounts”
Click “My VC” to view VC details
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