By Isaac Nzau
Important Note 1: The method in the article is obsoleted, because USDT based on Bitcoin network is no longer supported by LocalCoinSwap with reference to https://support.localcoinswap.com/hc/en-us/articles/360026490834-LocalCoinSwap-Will-Be-Switching-Tether-USDT-Tokens-From-Omni-to-ERC-20. It is highly recommended to use the exchanges mentioned in FAQ for cash withdrawal.
Disclaimer: the article is the author’s personal opinion and is not the opinion or policy of Securechain ApS. Please also be aware of the risk when using 3rd party channels.
Finmail Add-in for Outlook and Hotmail is intergrated email and payment system. It pays in both USDT and USD. It can be frustrating for first time Fimail users who have no idea how to transfer their hard-earned USDT cryptocurrency to their bank through a pay-pal account. I was once in that position. I made a mistake and traded with an unfamiliar channel and ended up losing quite a substantial amount. In this article, I will make sure that never happens to you. It is an easy transfer from Finmail payment interface to your PayPal account where you can withdraw your money into your bank account just as easily. This method allows you to sell your USDT currency to a willing buyer who will then deposit the agreed-upon value to your pay-pal address. The process is free from scam courtesy to the terms and conditions set by the local coin swap platform.
The first step is opening a “localcoinswap” account if you do not already have one. The process is easy and only requires you to provide your email address and a user name. Before you can continue you must login to your email account and verify your localcoinswap account. Login in to your localcoinswap account using this link “https://localcoinswap.com/en/”. You can also navigate to localcoinswap by searching it on google. You will need either the email address you used to signup or the user name you provided. Enter your credentials as required and then press the “sign-in” button. This will open the localcoinswap account. If there is a problem longing into the account, confirm whether the email address/username and password were entered correctly.
The platform opens the dashboard with different cryptocurrencies including BTC, DASH, EUTH, and USDT. Our focus is on the USDT. Click on the USDT logo to specify the currency you are selling. Below there will be five columns for you to fill in the specifications of your trade. The first column determines whether you are buying or selling. Indicate appropriately. To convert your USDT to USD you have to sell the USDT. The first column indicates selling. The second column updated automatically when you specified the currency you seek to sell. The third column requires you to specify the currency you intend to be paid in. Choose United States Dollar if you intended to transfer the funds to pay-pal. The fourth one is the location. You can choose world-wide Or any country of your choice. The fifth is the payment method and here you specify pay-pal. An option will appear right below these columns indicated “sell your cryptocurrency to”. Below are all available markets. Click SELL on the one with the best conversion rate.
The website takes you to another page where you enter the amount of USDT you wish to sell. PLEASE NOTE THE LIMIT IS 40 USD. Enter your desired amount and click SELL TETHER” directly below. A conversation box will appear asking you whether you are sure to sell your USDT. Confirm appropriately. This will open a conversation between you and the potential buyer. You will be required to initiate a conversation on the conversation box below. The second step is a reply from your potential buyer. He/she will provide you with an address to send the bitcoin (editor note: should be USDT here). Copy this address to your Finmail payout page where it is indicated receiver’s address. The buyer subsequently will ask for your pay-pal email address. Provide them with a verified working email address. If the pay-pal given is not verified this trade will not be completed.
MAKE SURE THE MONEY HAS REFLECTED INTO YOUR PAY-PAL ACCOUNT. Once the money has reflected into your pay-pal account, go to the last segment of the trade where you release the cryptocurrency to the buyer. This feature ensures that you do not lose your currency to a con. The balance in your Finmail should reflect your transaction. At this point the trade is complete.