Selling Lumens and other crypto with LOBSTR wallet

Modified on Thu, 24 Nov 2022 at 08:17 AM

 

With LOBSTR wallet, you can sell cryptocurrency (XLM, BTC, ETH, LTC, etc.) and get cash to your bank account through our partnership with MoonPay payment service.

 

Here are a few tips that may be of assistance when selling XLM or other crypto with MoonPay:

- Which cryptocurrency can I sell?

To cash out your wallet balance, use the ‘Sell Lumens’ option on LOBSTR web and mobile apps.

 

You can also sell Lumens (XLM), Bitcoin (BTC), Bitcoin Cash (BCH), USDT (ERC-20), USDC (ERC-20) or other cryptocurrencies even if you don't have an account in LOBSTR just by following this link.

 

We constantly update the list of available cryptocurrencies for sell. Please visit lobstr.co/sell-crypto to find out more.

 


- What is the minimum amount I can Sell?

 

The minimum transaction amount is 150 XLM (Stellar), 0.0008 BTC (Bitcoin) and 0.015 ETH (Ethereum).

 

- What is the maximum amount I can Sell?

 

The maximum transaction amount is 65,000 XLM (Stellar), 0.3 BTC (Bitcoin) and 4 ETH (Ethereum).

 

The daily and monthly sell limits depend on a user complying with certain requirements.
We advise you reach out to MoonPay for details if you see a message that a limit was reached.


 

- Which Bank accounts are supported for ACH Withdrawals? | Service availability

 

We currently support Euro bank accounts that can receive SEPA payments and UK bank accounts that can receive FPS payments.

 

ACH sell is also available for US users in most states excluding Louisiana, New York, and Texas.

 

If you are not located in the USA, UK or EU, the good news is that MoonPay is exploring and opening their sell feature up to users in other regions!


- Which fiat currencies are supported?

 

You can get paid in the US Dollar (USD), Euro (EUR), Pound Sterling (GBP) for selling your crypto.

 

 

- How long does it take to get paid after selling my Lumens with MoonPay?

 

For payouts to bank accounts in the United Kingdom, you can expect to receive your funds within 1 working day, once MoonPay receives your cryptocurrency. In certain cases, the payout happens within a few hours. 

 

For payouts to bank accounts in Europe, you can expect to receive your funds within 1-3 working days, once MoonPay receives your cryptocurrency.

 

For payouts to bank accounts in the United States, you can expect to receive your funds within 3-4 working days, once MoonPay receives your cryptocurrency.

 

 

- How do I check the status of my Lumens or crypto sell?

 

Open the email confirmation that MoonPay has sent you and click "See complete deposit instructions."

 

This will take you to MoonPay tracker, where you can see if there's anything they need from you to process or complete your transaction, If it is still being processed, or if it has been approved already by MoonPay.

 

Have more questions regarding the status of your transaction? Submit a request



- How much does it cost to sell my crypto with MoonPay?


The fees for selling crypto depend on the sell amount and can be as low as 4.5% per transaction.

 

Please note that MoonPay always displays the fees before you sell your Lumens on their page so that you can always know how much you're going to pay and how much it will cost you to sell your Lumens or other crypto.


- Will my bank charge me to receive the funds?

Please check with your bank to see if they charge any additional fees for inbound bank transfers.


- Can I cancel the transaction for Selling my crypto?

 
If you do not wish to continue with your sell order, simply do not send your Lumens or other crypto to the deposit address provided to you by MoonPay for cash out.

 

The transaction will automatically expire a week from the date of its creation and you will receive an email to confirm that the transaction has expired.

 

Please note: If you already sent your Lumens or other crypto to MoonPay, they won't be able to cancel the transaction anymore.

Please refer to MoonPay FAQ with further questions, or submit a request to MoonPay's support team if you have questions related to the MoonPay service.

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