Cashing Out
Overview
Drivers on the TRIP get paid in USD Coin (USDC). This is held in your Teleport wallet (a non-custodial Solana wallet).
There are two ways to convert USDC in your Teleport wallet to cash your bank account:
Withdraw directly to your bank account
Connect another Solana wallet and access your funds from there
This guide will go through both options cash out your earnings.
(I) Cashing out to your bank account
We've partnered with Coinflow to give you the ability to cash out USDC directly into your bank account.
To get started from the Teleport app:
Go to the Profile tab and select the green wallet pill on the top right
Tap on Cash Out button
Select the Bank Transfer option
If this your first time, you will be taken through Coinflow's KYC onboarding process in your browser. Once you complete this, you will be able to connect your bank accounts before being brought back to the Teleport app.
Once you've completed the onboarding and have added your bank accounts, you will have two options on how to cash out your USDC: Instant or via Standard
Instant payouts settle within minutes, meaning you will see it hit your bank account almost instantly. This option has a 2% fee (with a minimum fee of $2).
Standard ACH is free for all users and will take the usual 1-3 business days for the funds to each your account.
When you hit Transfer, we start the process immediately and your money is on it's way.
(II) Connect a wallet
To start you need an existing onchain wallet. If you don't have one you can easily get started with popular ones like: Phantom, Solflare or Backpack.
All of these apps allow you to import a wallet, before you do so you need to get your private key from the Teleport app.
To get your private key from the Teleport app:
Go to the Profile tab and select the green wallet pill on the top right
Tap on Cash Out button
Select the Connect Wallet option
Tap View Secret Phrase
Copy the seed phrase to clipboard
With your private key, open the Solana wallet of your choice and import your wallet. Here are some of their guides to help you: Phantom, Solflare, Backpack
Feedback
You're encouraged to help improve the quality of this guide.
Please contribute if you see any typos or factual errors. To get started, you can read our Contributing to TRIP section.
You may also find incomplete content or stuff that is not up to date. Please do add any missing content by creating a free account in GitBook. Check the TRIP Guides Guidelines for style and conventions.
If for whatever reason you spot something to improve but cannot do it yourself, please open an issue.
And last but not least, any kind of discussion regarding TRIP documentation is very welcome in the official TRIP Community on Telegram.
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