We’re here to help

back icon Back to help page

Payment settings

  • Set up currency exchange and withdrawal

    This guide will show you how to set up the gateway so that you could:

    a. Automatically exchange received Ethereum cryptocurrencies to FIAT money;

    b. Withdraw the funds to your bank account.

    1. Sign up to Kraken

    a. Go to kraken.com, create a new account.

    Screenshot_2018-11-08_at_17.24.08.png

    b. Select “Get Verified”, enter the required information. You will need at least Tier 2 verification to enable crypto to FIAT conversion.

    Screenshot_2018-11-08_at_17.25.24.png

    2. Configure Kraken settings

    a. Go to “Settings” -> “API”. Press “Generate a new key”. Check all the permissions and generate the key. 

    Screenshot_2018-11-08_at_17.37.38.png

    b. Go back to the key list, select your newly created key. You will see fields called “API Key” and “Private Key”.

    Screenshot_2018-11-08_at_17.40.29.png

    b. Go to Monetha’s website. Log in, select “Payment Settings” -> “Exchange to FIAT”. Copy the “API Key” and “Private Key” to the two empty fields under “Kraken Settings”.

    Screenshot_2018-11-08_at_17.43.05.png

    3. Configure exchange settings

    Enter your preferred exchange currency and exchange type. We recommend instant exchange if you are wary of price fluctuations.

    Screenshot_2018-11-08_at_17.47.01.png

    4. Configure withdrawal settings

    a. On Kraken, select “Funding”, then “Withdraw”. Choose your preferred withdrawal currency.

    Screenshot_2018-11-08_at_17.30.05.png

    b. Click “Add account", enter your bank account details. Copy the "Description" field – that is your Withdrawal Key.

    Screenshot_2018-11-08_at_17.33.12.png

    c. Go to the “Exchange to FIAT” tab on Monetha’s website. Under “Withdrawal Settings”, paste the Withdrawal Key.

    Screenshot_2018-11-08_at_15.48.36.png

    d. Select your preferred withdrawal currency and how often you would like the payments to be made.

    That’s it! The gateway will now automatically exchange cryptocurrencies to FIAT and transfer the funds to your bank account. 

    If you have any questions or requests, feel free to ask them via merchants@monetha.io