As baino currency is gaining more attention in the digital economy, “how to sell baino currency?” is a common question by many people who are newly earning, holding, and eager to convert their baino currency to real cash, when using a free Memoir Account.
Tokenized Royalty Penny (TRP) is a baino currency with data value of 1.00 TRP per 0.01 USD. Baino currencies are digital assets earned using a free Memoir account. In 2022, IoT had roughly $1.10T worth of baino currency in Reserved, stored at UTF-CLOUD.
After earning baino currencies, there is a challenge to directly withdraw your Tokens to cash, as a free or non-verified Memoir user.
This article will narrate the guides on how to overcome the challenge of withdrawing your baino currency Tokens from Memoir to cash without having a verified account. And get your money directly through Bank Account/Mobile Money.
Steps To Sell Baino Currency;
- Try Memoir Withdrawal
- Create A Selar Account
- Link Bank With Selar
- Sell Baino Currency
- Receive Money In Cash
In the past years, it has been a major challenge for baino currency earners to withdraw their tokens to money, when using a free Memoir account, as this is so due to the system monetization policy. Unless you are verified, you cannot withdraw your Tokens, directly within Memoir.
Now, let’s breakdown the step-by-step procedure on how to sell your Baino Currency and collect cash.
1- Try Memoir Withdrawal:
The amazing thing about the Memoir platform is the freedom it gives its users with endless possibilities to earn real money from their knowledge by answering to questions they know and love, as the world streams your content on Memoir, you will earn Tokenized Royalty Penny (TRP), where 1.00 TRP equals 0.01 USD.
Assuming you have earned 1000 TRP which is equivalent to 10 USD, stirring this money in your Memoir account without possibility to withdraw these Tokens to Cash, most especially when you need it, can be frustrating, when you are unverified.
Taking advantage on the ability that Memoir currently gives Free (Unverified) users to “send TRP” within its system can be of great benefit to exploit.
Why it is important to “Try Memoir Withdrawal” first is to personally confirmed that it is not truly possible for you to withdraw your tokens to cash directly from Memoir in your present country, as some baino currency holders have reported of being able to withdraw TRP from their country in local currency without being verified. This might also be a Memoir loophole beneficial to you in your location. So, its good to try, and confirm yourself.
In a situation where it is not possible for you to withdraw your tokens to cash directly from Memoir in your country, then, that is where step two comes in for you, to enable you sell your baino currency to fiat currency by using Selar, and collect cash.
2- Create A Selar Account:
Selar is a powerful platform that will act as a PoS to enable you sell your baino currency Tokens, and receive funds directly in your Bank Account or other means including PayPal, even Mobile Money, from anywhere in the world. Baino currency is cost 0.01$ per token, as per current TRP price.
The same financial account which you connected with your Memoir account, link the same account with your newly created Selar account.
Don’t dare ask me “how to Create A Selar Account?” Huh
Never mind. I almost forgot that is exactly why I am here. To guide you throughout the process.
First, visit Selar.com and Create an Account. Just like Memoir, you can register a free Selar account using your Google or Facebook. That is all.
After creating your Selar account, the next thing is to link your local bank account/mobile money details with your Selar account, where you will receive your money after selling your baino currency Tokens.
The only downside of selling your baino currency on Selar is that they charge 4% of transaction fee. And depending on some Point-of-Sale locations, Selar might charge up to 12% as transaction fees.
Unlike on Memoir where Tokens withdrawals are completely free, but you must have a verified account. Comparing withdrawing your TRP from Memoir versus selling your TRP on Selar, calculation would proof that; you will receive complete amount of 10 USD when you withdraw 1000 TRP from Memoir. While you will receive 9.6 USD when you sell 1000 TRP on Selar.
Let us calculate what is 4% transaction fee of $10.
10 USD EQUALS 1000 TRP.
Divide 1000 TRP by 100 %, you will get 10 TRP.
Multiply 10 TRP by 4 %, you will get 40 TRP (Selar fee).
Assuming you want to sell 1000 TRP, this means that Selar will charge you 40 TRP, and Tokens amount you are actually selling is 960 TRP.
Now multiply your 960 TRP by 0.01 USD (the value of 1 TRP). Therefore, you will receive 9.6$ equivalent to your local currency directly in your local bank account/mobile money when you sell 1000 TRP via Selar.
4% of 10$ might seem insignificant. Imagine you have 1-million-dollar worth of baino currency (100 000 000 TRP), that means you will receive $960,000 after completing a sale, minus $40,000 Selar transaction fees. But in Memoir you will withdraw full amount of $1 million, directly from your account, no charge.
3- Link Bank With Selar:
Irrespective of the 4% fee charged by Selar for completing a transaction, it is actually stress-free to sell your baino currency Tokens outside of Memoir platform, and receive your money in local currency, even when you are not verified on Memoir to perform a direct withdrawal. Linking your Bank account With Selar will enable you to sell your baino currency to anyone around the world, while buyers pay using their Card, Bank, PayPal, ETC., which is not possible to do in Memoir with unverified accounts.
It is very easy to link your Bank Account/Mobile Money with Selar, sell your baino currencies and receive fiat currencies in cash.
To link your Bank with Selar, navigate to “Profile Menu”, and click “Wallet & Payouts”, then tap on “Payout Settings”.
Finally; Choose a preferred method where you will receive your money after selling your Tokens. Selar financial payouts system mostly includes; Bank Account and Mobile Money to easily receive cash, after selling your baino currencies. They also payouts via PayPal in some selected countries.
While Memoir withdrawal is completely free of charge to all baino currency holders with a verified account, you can only withdraw directly to Bank.
4- Sell Baino Currency:
Presently, selling your baino currency is simple, you simply list your Tokens on Selar.com as a digital product, enabling people to purchase your baino currency assets from anywhere in the world, paying using Credit Cards. Sell your baino currency tokens and collect cash, easily.
To sell your baino currency, login your Selar Account. Click “+Add Product” and list your Tokens under digital product.
Baino currency buyers from around the globe pay using Visa/Master Cards, and you will receive payouts in your local currency after selling your Tokens, collecting cash via Bank or MoMo. Buyer provides their TRP receiving account during payment, and you will send them TRP after confirming payment.
At Selar checkout page, buyers will provide you with their Memoir details, such as;
- Account Name:…
- Registered Email:…
- Account Number:…
This information is where they will receive their baino currency Tokens, after payment. Once you receive payment on Selar, login to your Memoir and send the TRP value to the buyer using their provided Memoir details, equivalent to the USD transaction amount, to successfully close a sale.
As a Memoir unverified user, you can send Tokens, but you cannot withdraw Tokens. This explains why you need Selar to help sell your baino currency Tokens, and collect cash.
5- Receive Money In Cash:
This step might feel overwhelming, of course, receiving money has this strange HIGH-vibration feeling almost everyone feels when they receive money. But hey! Receiving money for something you sold feels good, right?
Yes, of course, I know it actually feels great; if not overwhelming!
Here’s the trick. When you list your baino currency Tokens for sell on Selar.
Where do you think buyers will come from to purchase your Tokens?
Now, this point is important; take note.
After you list your Tokens on Selar, copy the link and paste it in your Memoir bio, so that visitors on your profile can click on the link directly from your Memoir to buy your Tokens on Selar. To sell faster, share the link on your social platforms, to attract more buyers.
If you already have a direct buyer, Hurray! Just copy the link and send it to them and wait payments in your Bank Account/Mobile Money.
Making it easy to sell baino currency online and walk straight in the bank and collect raw cash.
If you live in the United States of America, that means you will receive USD equivalent to the TRP amount sold. Should you reside in another country, eventually you will receive funds in your local currency (XXX).
BONUS: For those TRP holders who will want to trade their baino currency for crypto currency can list their Tokens on BAINO MARKETPLACE. Basically, SELAR simply acts as a PoS to help you sell baino currency Tokens and accept Credit Card payments worldwide, automatically; meanwhile on BAINO MARKETPLACE transactions are almost manual. It is important to study the differences between; “how to withdraw baino currency”, “how to sell baino currency”, and “how to trade baino currency” to understand what factor affects transaction fees, rates, and terms, to give you a clear comprehension for better decision-making.
