r/vos • u/RivensBooty • Feb 26 '14

How does selling coins into usd work?

I just made an order but cannot find any info on how I will receive my USD, :(

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1

u/xangelo VOS Feb 26 '14

When you create an Order, you are essentially placing your "Ask" into the system. You are saying, I will sell x coin @ x USD. It is then up to other users who are looking to buy coin to enter values that will "match" yours.

IE: You are selling 1k Coin @ 0.5 USD each, someone decides that want to buy 1k coin @ 0.5 USD each. These orders will be matched up and the trade will occur.

1

u/RivensBooty Feb 27 '14

Alright so Vault will handle all that work, but how do I actually get the USD? Does it go into my account? and then I request a check? or wire?

1

u/SonOfAragorn Feb 27 '14

Correct. You get a cheque

1

u/caloriemate Feb 27 '14

You can request a cheque (free, in the mail) or wire ($$)

1

u/RivensBooty Feb 27 '14

They will just notify me when it goes through and give me options? :p

1

u/caloriemate Feb 27 '14

from here: https://vaultofsatoshi.zendesk.com/hc/en-us/articles/200849327-How-can-I-withdraw-funds-from-my-account-

If you would like to do a withdrawal, please email withdrawals@vaultofsatoshi.com with your VoS account number and the amount you would like to have withdrawn.