How can I convert my tokens to traditional FIAT currency?
To convert Fan Tokens to traditional FIAT currency, you will first need to exchange them back to Chiliz ($CHZ) Tokens. This is because Fan Tokens can only be traded (bought & sold) via Chiliz.net and in due course on Socios.com. Currently, the only way to exchange Fan Tokens back to $CHZ is VIA the Chiliz Exchange (Chiliz.net).
To do so please follow the steps below:
Step 1: Create an account on Chiliz.net
Step 2: Navigate to your wallet page, found here
Step 3: Locate the Fan Token you wish to exchange in the wallet page and press ‘Deposit’
Step 4: Follow the official guide on how to withdraw and enter the deposit address from step 3
Step 5: Once the deposit has been completed, navigate to the trading pair on the exchange, for this example, JUV/CHZ
Step 6: Ensure that the order type is set to ‘Market Order’
Step 7: Enter the amount of JUV you would like to exchange in the ‘Sell JUV’ box in the second half of the page and press ‘SELL JUV’
Step 8: Follow the steps below on exchanging Chiliz ($CHZ) tokens to fiat
To exchange Chiliz Tokens back to FIAT currency, first you will need to find a Crypto <-> Fiat exchange that supports $CHZ. For this, we would recommend registering on Bitpanda or Crypto.com. Note that different crypto <-> fiat exchanges have different regulatory requirements and the examples above may not be available in your region.
Step1: Register on a fiat / crypto platform
Step 3: If the platform you have chosen does not support Chiliz Tokens, you will need to exchange Chiliz Tokens to another cryptocurrency first, such as Bitcoin ($BTC). This can be done on a variety of exchanges such as Binance. For a full list of crypto <-> crypto exchanges that support Chiliz, click here
Step 4: Withdraw your Chiliz Tokens from their current location (eg. Socios.com app, Chiliz.net) using the deposit address of the fiat <-> crypto platform
Step 5: Seek information from the knowledgebase of the platform, for example, this guide on Bitpanda on how to sell your cryptocurrencies.
What is the minimum amount of $CHZ or Fan Tokens that I can withdraw?
When withdrawing tokens from your wallet, the minimum withdrawal amount is $CHZ 1,500 while the minimum amount of Fan Tokens […]