We don’t support an automatic conversion yet. For now, you will need to use a cryptocurrency exchange. Below is a guide to help you do this exchange.
STEP 1: REDEEM YOUR NRVE POINTS
Redeem your NRVE points by withdrawing it into an acceptable wallet. Here is an FAQ that explains how to Redeem NRVE to a wallet.
Once you have NRVE in your wallet go to Step 2.
STEP 2: CONVERT NRVE TO A CYPTOCURRENCY THAT CAN BE SOLD FOR FIAT OR DOLLARS.
To convert NRVE to another Cyptocurrency, you’ll need to use an exchange that has NRVE listed for trading. Currently there is Switcheo, Bilaxy, and LATOKEN. LATOKEN is currently banning trades from citizens of the US, Canada and many EU countries.
Switcheo only lists NRVE/NEO trading pair but once you have exchanged the NRVE for NEO you can then exchange the NEO for ETH right on Switcheo. It is an extra step but you do not have to leave Switcheo to do it.
Bilaxy does have a NRVE/ETH pair.
Whichever way you go about it, once you have ETH you can convert that ETH to FIAT at places such as Coinbase, Kraken, Gemini, Coinbase Pro (formerly GDAX).
We will use Bilaxy and Coinbase for this tutorial to be consistent with previous tutorials.
(We have a FAQ tutorial on exchanging ETH for NRVE on Bilaxy. We will be doing just the opposite here).
Go to Bilaxy.com. If you an account, log-in. Otherwise, you need to register an account first and then log in.
Once you are logged into your acccount in Bilaxy:
- Click on Funds and then Deposits
- Select NRVE from the pull down menu
When you select NRVE, the NRVE Wallet Address assigned to you for Bilaxy will appear. Click the Copy button.
Now, go to the wallet that you are storing your NRVE and click on the Send button. This function tells the wallet you are going to send the NRVE to another Wallet. Enter the amount of NRVE you want to send to Bilaxy for the exchange process. Then click Continue or Send. The wallet you are using may have you verify the information or enter a 2FA code before the send or transfer is initiated.
Once you have sent NRVE from your wallet to the Bilaxy exchange wallet, go back to the Bilaxy website.
Click on Funds then Deposits and click NRVE again.
Under Recharge Records you can verify that your NRVE is now available. This may take a few minutes to work through the blockchain. Once the NRVE balance is found, you can begin the exchange. You should receive an email once your account is credited to Bilaxy.
In Bilaxy, click on Exchange. It will default to BTC. Look on the top right and click ETH, then find NRVE. Click on NRVE to launch the exchange for ETH/NRVE.
It will look like this on the left side:
In Sell box in the lower Center area:
- Enter the Price you want to sell for (look at existing orders as a benchmark); Note that the Sellers are in Red and the Buyers are in Green. If the price you are willing to sell matches the price buyers are looking for, you will get an immediate NRVE sale processed. If your sell offer is higher than what people are currently accepting, you will have to wait until a buyer comes in willing to accept the price.
- Enter the Amount of NRVE you want to sell. You can click the 100% button if you want to sell all of your NRVE.
- Click on the Red Sell button when ready.
- You will be asked for the security password that you created, to confirm the sell order.
You will be asked to confirm the sale by email or authenticator or both. Assuming the trade can be made (e.g. there is a buyer at your price), the blockchain will work on the transmission. Confirm that your ETH is now available by clicking on the Funds button, then Balances and looking for ETH now.
Now it is time to move the ETH to Coinbase and exchange it for Dollars. You must have an account on Coinbase. If you do not, please follow the instructions at the end of this FAQ to create one.
Log into your Coinbase account and click Accounts. Scroll down to ETH Wallet and click Receive.
Read the pop up, and then click “I Understand” after you have read it.
Next copy the Wallet address to receive Etherium(ETH). This will be the address that you want to send the ETH from Bilaxy to Coinbase.
Back in your Bilaxy account, click Funds, then Balances. Look for ETH near the top, and then click the Withdrawal button.
Paste the Coinbase address (the New Address Window will pop up when you click Select/Add) into the Withdraw Address field. You will need to give the address a name to remember it by, and confirm the address with the Security Password that you created when you created your Bilaxy account.
Enter the amount of ETH to send. There is 0.02 ETH min for withdrawal on Bilaxy Exchange. You will be asked to confirm the withdrawal by 2FA. You'll also need your security password, and you'll need an email code. Click SEND to have the code sent to your email.
Click the Confirm button when all of the passwords and codes are ready.
It will take a few minutes for the tokens to work through the blockchain. A bit later, you can check your Coinbase account and you should see ETH in your balance.
Once you have ETH in your Coinbase account click Trade at the upper right hand corner. From the pop up click the Sell tab, then change to Etherium and put in the amount of ETH that you want to sell.
Cashing out on Coinbase is different for each country, and there is a hold period for some. For more detailed information please see Coinbase’s article here. The linked article describes the process of setting up payment methods for each Locale, and what format that you can withdraw in.