▫️Payouts

Payouts - Spark

Getting started

Spark offers a convenient withdrawal system to your personal wallet.

Payout API key

Follow the instructions below to obtain an API key to work with payouts:

1. Open the settings section of your account

1. Bind two-factor authentication if you haven't already done it

2. Go to the - Business settings

3. Generate - Payout key (Remember withdrawals will be temporarily blocked for 24 hour after generating a new payout API key)

4. Copy your payout API key

5. Done!

Creating a payout

The payouts through API are made only from your business wallets balances.

Payouts can be made in different ways:

1. You can choose the cryptocurrency you want to receive the payment in, and that coin will then be used automatically to perform the transaction. To accomplish this, make sure you have enough money in that currency to pay any applicable fees.

2. The payout amount can also be specified in fiat money as an alternative. In this instance, the sum will be immediately translated from your available balance to a certain cryptocurrency. For instance, the corresponding amount will be taken from your LTC balance if you ask for a payment of 20 USD in LTC. It's critical to have enough bitcoin on hand to pay for any necessary fees.

3. The payout amount can also be specified in fiat money, and your USDT balance will be used to automatically convert it to a chosen cryptocurrency. When autoconvert is enabled, this feature is very helpful because payments from your invoices are automatically translated to USDT. Make sure you have enough USDT to cover all costs, for instance, if you want to make a payout of 20 USD in LTC but only have a USDT balance.

4. Furthermore, you have the option to define the payout amount in the cryptocurrency of your choice. Your available USDT balance will then be used to automatically process the payout in that particular coin. It is essential to have enough USDT in your account to pay any applicable fees.

Payout statuses

Some approaches include a payment status that describes the current stage of the payout in the body of the answer. You may see the list of potential payment statuses below.

VALUE	DESCRIPTION
process	Payout in process
check	The payout is being verified
paid	The payout was successful
fail	Payout failed
cancel	Payout cancelled
system_fail	A system error has occurred