12. January 2023

eCredits introduces Instant Trade feature

You asked for it, you got it.

Today, eCredits is rolling out its new Instant Trade feature for the eWallet eCashier App. Built exclusively for business, Instant Trade allows eCredits Merchants to trade eCredits (ECS) for euro (EUR), instantly, via their linked eCredits and Blocktrade Business accounts.

How it works

Instant Trade allows Merchants to receive ECS in their eCredits Cashier App and/or eWallet, then send them directly to their Blocktrade Business account, where they can be exchanged instantly into EUR, by putting a direct market order trade on the Blocktrade exchange. Instant Trade requires Merchants to have an active Blocktrade Business account linked to their eCredits eWallet App.

Getting started

To take advantage of Instant Trade, Merchants must have an active business account in Blocktrade and have already undergone the Know Your Business (KYB) onboarding process. To get started, just:

  • Ensure that you have an active Business account on Blocktrade
  • In your eWallet App select the ‘exchange’ screen and connect to Blocktrade
  • Link your Blocktrade Business account with your ECS account*
  • Once connected, check your Blocktrade balance, in both the eWallet and Web Portal
  • In the Web portal go to ‘Business Settings’ and in ‘Account Settings’ click to activate Instant Trade
  • Verify that the displayed address is correct by confirming your Blocktrade address in the eWallet App
  • Activate Instant Trade in your Blocktrade Business account by going to ‘settings’ and selecting eCredits Instant Trade

If eCredits Instant Trade and Blocktrade Business accounts are both enabled, then ECS deposited into the user’s Blocktrade accounts are instantly liquidated into EUR (this might take up to a few minutes). However, withdrawing EUR or purchasing other cryptocurrencies require action by the user. To learn how to withdraw EUR, see here: How do I withdraw EUR from my Blocktrade account?. To learn more how to buy and sell cryptocurrencies on Blocktrade, see here: Buying and selling currencies.

Important information

Instant Trade allows you convert ECS to EUR via your Blocktrade Business account only and is unavailable to Blocktrade Consumer accounts. Additionally, EUR still cannot be accepted or converted by your eWallet App. You can enable or disable Instant Trade at any time.

Note: eCredits does not apply any additional fees for use of Instant Trade but maintains the standard 0.5% eCredits transaction fee. Additional fees related to services provided by Blocktrade, such as a 0.3% ECS to EUR conversion rate may apply. Fees levied by Blocktrade are beyond the control of eCredits.

*Instant Trade is available only for Blocktrade Business accounts. Error message will display should Merchants attempt to link a Consumer account.

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