Due to Ink's nature as a decentralized cryptocurrency, it's designed to be used both on and outside of Listia. The goal is for Ink Token to become a widely used method for buyers and sellers to transact, with support on many different marketplaces.
To support and encourage this, Listia offers two brand new features that were previously not possible with the closed, credit-based system.
If you have Ink from a source outside of Listia (eg, selling items on another marketplace or buying Ink on an exchange), then you can deposit that Ink into your Listia account and it will count toward your Main balance.
To make this deposit, we will provide you with your personal Ethereum address (read more about technical details of Ink). From your external wallet or service, you would simply send an amount (eg, 2,000.00 XNK) to this address, and after confirmation the funds would show up in your Listia account, ready to be used.
There are no fees to receive an Ink deposit.
Listia provides the ability for members to send Ink in their Main balance to an external Ethereum address.
To withdraw your Ink, you will need an Ethereum wallet that supports XNK (see technical details) to receive the funds. Set the amount you wish to withdraw, specify your external wallet's address, and Listia will initiate the transfer.
Some details about your transfer:
- DO NOT send XNK to your Coinbase wallet because Coinbase does not support XNK.
- All Ethereum transactions incur network fees. Listia members will pay a small amount of Ink to offset those costs. Fees are typically less than $1.00 (in Ink) and often times much lower, depending on network conditions.
- Transactions take some time to be confirmed on the Ethereum network. Confirmation times can be as short as 10-15 minutes, and rarely exceed a few hours.
- Once the Ink has been withdrawn, the action cannot be undone and Listia no longer has access to those funds.
- You may receive an identity verification request from Listia in order to process your withdrawal.
Ink that you withdraw to an external wallet no longer exists on Listia, and is in your complete control.