How to offramp USDC
Last updated
Last updated
First off, thanks for collaborating on Crowdmuse!
This guide will show you how to offramp the USDC earned from Crowdmuse drops to USD or EUR through your bank.
We recommend offramping via Metamask (through Moonpay or Transak) or through your Coinbase account.
If you have received USDC on Optimism, Base or Polygon, first you will need to swap your USDC to ETH, and then bridge back to Ethereum network. If you have USDC on Ethereum, just follow the swapping steps until you have ETH on Ethereum mainnet.
Open the Metamask extension and change your network to the chain that your sold your product on.
If you don't know which chain, choose your product link from this guide, sign in with the wallet you contributed, and click "Switch to Optimism" (or whichever chain it is).
In this guide, we will swap USDC to ETH on Optimism, and then bridge ETH to Ethereum network.
On Metamask, click on Swap, to Swap USDC.e to ETH on Optimism.
Then from the swap page, choose USDC.e to ETH on Optimism and fill in the amount to be transferred to get quotes.
If you are happy with the quote (fees should be less than $5), click approve and sign the wallet transaction to complete.
Once you have swapped, you're ready to bridge ETH from the Optimism network to Ethereum.
From Metamask portfolio, choose "Bridge" add which currency you are bridging from ETH on Optimism to ETH on Ethereum, and confirm.
Click through the approvals and transactions, and keep the tab open while bridging is complete. This may anywhere between 10 - 30 minutes.
Now you have your ETH on Ethereum network, and the last step is to offramp ETH into USD or EUR.
Once you have ETH on Ethereum network, the cheapest way to offramp crypto into FIAT is via Coinbase, but the fastest way would be doing it via Metamask.
Using Coinbase
If you do not have a Coinbase account, first set up your wallet using this guide.
Then, transfer ETH from Metamask to your Coinbase wallet address. Once transferred, follow this guide to sell your ETH for USD/EUR.
Using Metamask
If you prefer using Metamask, click on the "Sell" tab, and choose to offramp using credit/debit (5-10 mins) or SEPA (1-5 days). Please note, avoid offramping when network is congesting so you don't pay high gas.
Congrats! You will receive this amount in your bank account shortly.
