1. How do I withdraw money from OneCoin? Show Answer
The fastest and easiest method to withdraw money from your Cash Account is to purchase and sell a gift code, then get reimbursed by the purchaser of the gift code. There is no fee for the gift code purchase and it is instantly processed.
There is almost always a lack of euros on a week-to-week basis, which means someone will buy your euros from you, so you won't have to pay any processing or transaction fees.
There is also a Global Cash Card (GCC) Visa debit card available. This can be obtained with a free subscription to the DigiCoinPro (http://training.digicoinpro.com) marketing system. It is worth the nominal annual fee. Instructions how to acquire and use the GCC card: http://training.digicoinpro.com/11. All questions regarding the GCC card should be directed to firstname.lastname@example.org.
Another option if you are KYC compliant is to send money to your bank account via wire transfer (a fee of 5-20 EUR will be charged).
Once you are KYC compliant (it appears to be a complicated process as of mid-2016 in the US to become fully KYC compliant), you can receive a OnePay MasterCard debit card and transfer money from your Cash Account to your OnePay e-wallet (free).
2. What is KYC? Show Answer
Know Your Customer (KYC) is the process of a business verifying the identity of its clients. The term is also used to refer to the bank regulation that governs these activities. KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed agents, consultants, or distributors are antibribery compliant. Banks, insurers and export creditors are increasingly demanding that customers provide detailed anti-corruption due diligence information, to verify their probity and integrity. KYC customer policies are becoming much more important globally to prevent identity theft, financial fraud, money laundering and terrorist financing.
3. What are the consequences if I do not get KYC approved? Show Answer
You will be restricted on your ability to withdraw money from your cash account and sell OneCoin on the exchange.
4. How do I sell OneCoins and how many can I sell? Show Answer
Once you have received your coins after mining, your coins go into escrow for 30 days. Then they are released to your account. If at that time you wish to sell coins, you can put them up on the EXCHANGE. To do that, log in, click on EXCHANGE, then click on TRADING. At the bottom of the page, under PLACE ORDER, you will see the word ONE, click on the red ASK and enter in how many coins you would like to sell.
You can trade with 1.5% of your free available coins. Check your OneCoin account balance for your free OneCoin amount. The OneExchange is open from Monday to Friday. Daily ask (sell) limits are as follows (These limits will soon be raised to higher levels):
Starter/Trader 12 EUR
Pro Trader/Executive 36 EUR
Tycoon 60 EUR
Premium/Festival 120 EUR
How to Sell OneCoin - 3 minute video
KYC Approval - 4 minute video
5. Why does OneCoin deny the KYC application? Show Answer
Some people seem to believe that nobody in the OneCoin company has an approved KYC. This is far from true. While there are some people in the United States that are KYC approved, the majority are not. The reason for this is compliance with the regulation of OneCoin as a commodity in harmony with US law. Some people think that the company is denying the KYC so people can't sell the OneCoins. If this was a real concern for the company they need to address China and not the United States. The bottleneck here is the legislation of Digital Currencies as commodities.