Introduction of how to cash out and withdraw MBL
Dear MovieBloc Community,
MovieBloc provides MBL tokens as a reward for various events. The received MBL tokens can be used to watch various short/independent movies in MovieBloc, as well as converted into cash.
This introduction will allow you to understand how to cash out and withdraw MBL.
1. Preparation — Setting up KYC
As MBL tokens are assets that can be converted into cash, KYC verification documents have to be submitted, and OTP/2FA security verification is required.
① Click on the profile image at the top right.
② Please click the profile setting icon.
③ KYC Verification — Click the Submit Verification Documents (KYC) button on the settings page and submit the required information
(ID photo, name, date of birth). KYC verification may take 1 to 2 days on average.
2. Preparation — OTPSettings
① Click the My Wallet > Withdrawal button
② Scan the QR code from the OTP app or enter the code number
③ You need to download either the OTP or 2FA app for OTP settings from App Store or Google Play Store.
④ Run the downloaded app and tap the Add (+) button, then scan the QR code on the MovieBloc withdrawal screen or directly enter the provided code number. When you enter the QR code or code number, a 6-digit verification number is automatically generated in the ‘MovieBloc’ section as shown below.
⑤ Please enter the 6 digits generated by the OTP app.
3. Create a deposit address for the cryptocurrency exchange
1) You need to sign up for a cryptocurrency exchange before withdrawing money. MovieBloc is listed on the cryptocurrency exchanges such as Upbit, Bithumb, Coinone, and Binance. Please sign up for one of the four exchanges and create a deposit address!
As an example, below is how to deposit MBL to Binance Exchange:
① Log into your Binance account.
② Click on Exchange and pick Basic on the taskbar.
③ Pick a trading pair, as there is a lot to choose from. If you only see Ethereum in the funds, then Ethereum is the only one you can deal with.
④ Choose the type of trade you want to make, like Limit Orders, Stop-Limit orders, or Market Orders.
⑤ Choose the amount you want to trade.
4. Apply for withdrawal from the MovieBloc to the exchange
① Go to the MovieBloc website.
② Tap your profile picture in the upper right corner -> Click ‘My Wallet’.
③ Select MBL on the left box in Wallet, and then click the ‘Withdrawal’ button. In the pop-up window, please check whether your ID and password are correct.
④ Enter the withdrawal amount and your cryptocurrency exchange deposit address. Please read the withdrawal notice carefully, check the consent box, and click the “Submit Request” button.
⑤ At the last stage, enter the MovieBloc code in the OTP/2FA app and click the “Submit Request” button!
⑥ The withdrawal will be completed immediately after you click the Submit Request button, and it takes about 20 minutes for the exchange to complete the processing of the deposit.
5. Selling MBL in USD on the exchange
1. To withdraw MBL in USD, you must first sell MBL on the cryptocurrency exchange.
2. After selecting MBL on the exchange, select ‘Sell’ in the Order Book, enter the desired selling quantity and price, and press the Sell button on the bottom.
How to Withdraw on Binance
https://academy.binance.com/en/articles/how-to-withdraw
For how to withdraw money from other cryptocurrency exchanges to a bank account, please follow the instructions of each exchange.
Thank you,
MovieBloc
