How do Payouts work?

Payments received to your Confirmo account are securely stored and easily accessible. You have several options for withdrawing these funds, either to your bank account or to crypto addresses.

When a payment is received, it is processed depending on your pre-set preferences in the Payment tool. You can choose from three options:

  1. Keep the payment in the customer’s original cryptocurrency.
  2. Convert the cryptocurrency to Bitcoin.
  3. Convert the cryptocurrency to fiat.

The chosen form is then stored in your account balance. When you decide to withdraw your funds, you can use either Settlements or Payouts. Payouts offer a flexible, manual option for immediate cryptocurrency withdrawals. They can be further tailored using Confirmo’s API for:

  • Mass Payouts: Bulk transactions to numerous addresses at once.
  • Recurrent Payouts: Regularly scheduled transfers.

Payouts are particularly useful for businesses needing to transfer funds to contractors, employees, or traders. They carry a small fee of 0.5%, as they involve currency conversion (e.g., from an Euro balance to Bitcoin). This fee is taken from the balance, ensuring that the recipient receives the exact intended amount.

Opening the Payouts menu.

You can easily create a Payout from the Payouts option in the main navigation menu. Then, click on the Create Payout button in the top right.

Creating a Payout.

You will be shown a window where you can set the Payout parameters. First, choose how much you want to withdraw in the chosen fiat currency, and you will be shown the amount you will receive in the required cryptocurrency. The Priority option lets you set how fast you need the Payout to be sent – higher-priority withdrawals will carry a higher blockchain transaction fee.

Then, simply fill in the cryptocurrency wallet address and a reference if needed. Then just click Create Payout and it’s on its way!

We are constantly improving Confirmo functionalities, so certain features or design aspects may change before this guide is updated. We do our best to keep our content up to date and apologize for possible minor differences between our guides and product. Thank you for your understanding. Contact us at [email protected] should you require assistance.