Panini NFT Frequently Asked Questions

The Panini Wallet is an on-site custodial wallet that holds US Dollars for transactions on the NFT marketplace.

You can add funds to the wallet using cryptocurrencies or a credit card/PayPal and withdraw funds either as cryptocurrencies to your crypto wallet or as fiat currency to your bank or PayPal account.

All proceeds from NFTs sold on the NFT Marketplace will be deposited directly into your Panini Wallet.

The Panini Wallet can be used to purchase selected NFT packs from the primary market and NFTs or NFT packs from the secondary marketplace.

1. Click on the Quick Wallet icon and select Panini Wallet, or click on the profile dropdown menu and then the Panini Wallet icon.

2. Funds can be added to the Panini Wallet using cryptocurrency via the DEPOSIT tab in the Wallet section.

3. Enter an amount (minimum $25), select Cryptocurrency as the payment method, and click NEXT.

4. On clicking PROCEED in the alert slider, you will be redirected to the payment service provider's (BitPay) screen.

5. Select a crypto wallet and currency to proceed to the QR code screen.

6. Scan the QR code using any crypto wallet app or use the payment link and address to successfully add funds to your wallet.

Note: You have 15 minutes to complete the invoice. Transactions not completed within this time will fail.

7. Click on Return to Panini America, Inc. once you receive the success message.

8. Upon returning to the Panini Wallet, you will notice the deposit status marked as Processing. This indicates that multiple on-chain validations are in progress, and the status will update to Completed within 5-60 minutes.

9. The status changes to COMPLETED once all on-chain validations are completed. This process may take between 5-60 minutes.

Important Notes:

• Before depositing funds using cryptocurrency, ensure that you have completed the KYC process for Panini America.
• Ensure you have completed BitPay's KYC process and obtained a pre-approved BitPay ID. However, deposits below $200 can proceed without completing KYC on BitPay.
• Do not make any payments after the BitPay invoice has expired. Panini and BitPay cannot assist with amounts paid toward an expired invoice.

Yes you can!

When redirected to our payment partner (BitPay) page, click on 'I DON'T SEE MY WALLET" & then click on 'I WILL TRY TO PAY ANYWAY' to find the required currency.

On receiving the payment address you can transfer it directly to the Panini wallet.

There are multiple ways to buy cryptocurrency, we are listing two of the easiest ways to get started:

Download the Bit Pay App -https://support.bitpay.com/hc/en-us/articles/360011332152-How-to-install-the-BitPay-Wallet

Follow the instructions on this to load your BitPay account with Cryptocurrency-

https://support.bitpay.com/hc/en-us/articles/360049877352-How-do-I-add-cryptocurrency-to-my-BitPay-Wallet

OR

Create an account with any popular crypto exchanges, like Coinbase, Gemini, Binance ect

Complete your KYC

Buy Cryptocurrency

Use that Cryptocurrency to recharge your Panini Wallet

Panini recommends using one of the many wallets supported by our Crypto Payment partner for faster transfer and ease of refunds - refer to this link for supported wallets -https://support.bitpay.com/hc/en-us/articles/115005701523-Which-wallets-work-best-for-a-BitPay-payment-

1. Click on the Quick Wallet icon and select Panini Wallet, or click on the profile dropdown menu and then the Panini Wallet icon.

2. Funds can be added to the Panini Wallet using a Credit Card/PayPal via the DEPOSIT tab in the Wallet section.

3. Enter an amount (minimum $25), select Credit Card/PayPal as the payment method, and click NEXT.

4. In the Review slider, you can review or edit your payment method and billing address.

Note: If you are a first-time user, you will need to add your payment method and billing address before proceeding to the Review slider.

5. After selecting the T&C checkbox and clicking ADD FUNDS, your deposit will be completed.

Deposits through Credit Card/PayPal usually reflect in your Panini wallet instantly.

Deposits through Cryptocurrency usually reflect in your Panini wallet in 5 minutes but it can take up to 60 minutes depending on the network activity.

The status of this transaction can be monitored from the 'ACTIVITY HISTORY' tab in the 'Wallet' section.

FOR BOTH CREDIT CARD/PAYPAL & CRYPTOCURRENCY :

MIN DEPOSIT AMOUNT PER TRANSACTION: $25

MAX DEPOSIT AMOUNT PER TRANSACTION: $25,000

1. Log in to your paniniamerica.net account and click on BLOCKCHAIN, or log in to your nft.paniniamerica.net account.

2. Click on MARKETPLACE > PACKS.

3. Select the desired pack by clicking on it.

4. Click BUY NOW under the LISTINGS tab.

5. Select the T&C checkbox and click BUY IT NOW in the slider to successfully purchase the pack.

Important Notes:

• If you do not have enough balance to make the purchase, you will need to add funds using Cryptocurrency or Credit Card/PayPal. Please refer to the answers to the following questions for guidance:
• "HOW DO I ADD MONEY TO MY PANINI WALLET USING CRYPTOCURRENCY?"
•  "HOW DO I ADD MONEY TO MY PANINI WALLET USING CREDIT CARD/PAYPAL?"
• Before making a purchase, ensure that you have completed Panini America's KYC process.
• If you choose to add funds using cryptocurrency, ensure that you have completed the BitPay KYC process and have a pre-approved BitPay ID. However, if the deposit amount is less than $200, you can proceed without completing BitPay KYC.

1. Click on the Quick Wallet icon and select Panini Wallet, or click on the profile dropdown menu and then the Panini Wallet icon.

2. Funds can be withdrawn from the Panini Wallet to your crypto wallet under the WITHDRAW tab, once the BitPay account is created, KYC completed, and the receiving address provided.

3. Click REFRESH to proceed with the withdrawal process.

4. Select Crypto Wallet as the payout method.

5. Enter the payout amount and click REQUEST WITHDRAWAL.

6. Click PROCEED on the review slider to confirm the withdrawal request.

7. You will receive an email from Panini stating that your request requires approval.

8. Wait for Panini to approve your request. Once approved, you will receive an email containing an OTP. Enter the OTP and click VERIFY AND WITHDRAW.

9. Click PROCEED in the review slider to initiate your withdrawal.

10. The status will change to PAYOUT INITIATED until the funds are added in the next payout window (10 AM ET & 5 PM ET). After the payout is completed, you will receive confirmation emails from Panini America and BitPay.

Important Notes:

• Ensure you have completed Panini America's KYC process before initiating a withdrawal to a crypto wallet.
• Ensure you have completed the BitPay KYC process and obtained a pre-approved BitPay ID before initiating a withdrawal to a crypto wallet.

These are the cryptocurrencies you can receive as payout :

• Bitcoin
• Ethereum ( Mainnet & Polygon )
• Euro Coin ( EUROC)
• Wrapped BTC ( Ethereum )
• Gemini Dollar ( GUSD )
• USD Coin ( USDC )
• Dogecoin
• Litecoin
• Bitcoin Cash

Note : The above list of cryptocurrencies is accurate as of today but availability may vary depending on your geographic location

Panini has partnered with Tipalti Financial Services to facilitate direct withdrawals to your bank account or PayPal.

To Get Started:

Link Your Account:

Go to the withdrawal page and click "Link Account". Follow the steps below for a one-time setup.

One-Time Setup:

1. Enable 2FA:

• Set up two-factor authentication (2FA) using your mobile number.
• An OTP (one-time password) will be sent to your phone for confirmation.
• Anytime you update your payment information, a 2FA code will be required for verification.

2. Enter Your Details:

• Choose your payout method (ACH, Wire, or PayPal).
• Enter your tax information.
• Submit your details to complete the setup.

Statuses on the Withdrawal Page:

• Payable: You're ready to withdraw.
• Unpayable: Panini Finance may need to manually review your documents, typically verified within 24 to 48 hours (often applicable to international users).

Once these steps are completed, your account will be set up for withdrawals!

Steps to Complete a Withdrawal Post-Linking:

1. Select Bank/PayPal as your payout method.

2. Enter the payout amount and click REQUEST WITHDRAWAL.

3. Click PROCEED on the review slider to confirm the withdrawal request.

4. You will receive an email from Panini stating that your request requires approval.

5. Wait for Panini's approval. Once approved, you will receive an email with an OTP. Enter the OTP and click VERIFY AND WITHDRAW.

6. Click PROCEED in the review slider to initiate your withdrawal.

7. The status will change to PAYOUT INITIATED until the funds are added in the next payout window. Once completed, you will receive a confirmation email from Panini America.

Important Note:

• Ensure you have completed Panini America's KYC process before initiating a withdrawal to your bank or PayPal account.

Bank/PayPal Withdrawal Timing

After Panini admin approval, you will receive an OTP, which must be entered on the withdrawal page:

If OTP entry is completed by 12:30 p.m. CST on a banking business day, the withdrawal will be executed the same day.

If entered after 12:30 p.m. CST, the withdrawal will be executed on the next banking business day.

Banking business days are typically Monday through Friday. However, US and UK banking holidays may impact the value date assigned by the bank.

Expected Fund Transfer Timelines After "Paid" Confirmation

Once you receive a "Paid" confirmation from Panini, your funds will transfer based on the following timelines:

ACH Transfers:

Local: 2 business days (T+2)

International: 3-4 business days (T+3 to T+4)

Wire Transfers:

Local: 1 business day (T+1)

International: 2 business days (T+2)

PayPal:

Local: 1 business day (T+1)

International: 2 business days (T+2)

W-9

The W-9 form is required if you are a payee who is either:

An entity incorporated in the US, or

An individual who:

Is a US citizen,

Is a resident of the US,

Holds dual citizenship, including the US,

Is subject to taxation as a US citizen, or

Was born in the US and has not formally renounced US citizenship.

W-8BEN

The W-8BEN form is for individuals who are not:

US citizens,

Residents of the US,

Subject to US taxation,

Born in the US,

and who:

Have no income connected with US trade or business,

Are not acting as intermediaries, and

Are not receiving compensation for personal services performed in the US for which a treaty benefit is claimed.

W-8BEN-E

Non-US entities with US-sourced income need to complete the W-8BEN-E form.

W-8ECI

The W-8ECI form is for individuals whose income is effectively connected with US trade or business.

W-8IMY

The W-8IMY form is for:

Foreign partnerships,

Foreign simple trusts,

Foreign grantor trusts (not claiming treaty benefits), or

Individuals acting as intermediaries.

W-8EXP

The W-8EXP form is for payees representing:

Foreign governments,

International organizations,

Foreign central banks of issue,

Foreign tax-exempt organizations,

Foreign private foundations, or

US possession governments, claiming applicability under specific US tax codes (sections 115(2), 501(c), 892, 895, or 1443(b)).

The following must also apply:

The payee is not an individual,

The payee is not a US-incorporated entity,

The payee is not a foreign partnership, simple trust, or grantor trust (and not claiming treaty benefits), and

The payee's income is not connected with US trade or business.

8233

Form 8233 is required if you are receiving compensation for personal services performed in the US and claiming a treaty benefit.

FOR BOTH BANK/PAYPAL & CRYPTO WALLET :

MIN WITHDRAWAL AMOUNT PER TRANSACTION: $100

MAX WITHDRAWAL AMOUNT PER TRANSACTION: $25,000

Only one withdrawal request is allowed at a time.

You can only request for another withdrawal after the initiated one is completed or cancelled by you.

For security reasons, all withdrawal requests go through a review process before being approved.

As a standard the approval process can take 3 business days in the event that no further scrutiny may be required on the account.

• DEPOSIT FEE: No Fees
• WITHDRAWAL FEES: A flat $25 Fee is applicable per withdrawal. 


Note: Standard network fees for crypto deposit and withdrawal will be applicable based on the prevalent network fees at the time of withdrawal or deposit.

• DEPOSIT FEE: No Fees
• WITHDRAWAL FEES :

 

Payment Method	Transaction Fee
ACH	USD 1.07
eCheck	USD 5.35
eCheck (Local)	USD 1.07
PayPal (Non-US resident)	USD 1.07 + 2.00% (up to USD 22.47)
PayPal (US resident)	USD 1.07 + 2.00% (up to USD 2.14)
Wire Transfer (Non-US resident, non-USD)	USD 16.05
Wire Transfer (Non-US resident, USD)	USD 22.47
Wire Transfer (US resident)	USD 16.05

 

Note: Fees are subject to annual revisions and may be automatically adjusted based on updates from our payout partner.

Additional FX Fees: A 2.50% FX fee is charged when the payment currency differs from USD.

Rejection Fee: This fee applies if incorrect bank information is provided, causing a payout failure

You can view the Transaction ID by clicking on any particular transaction in the 'ACTIVITY HISTORY' tab of the 'Wallet' section.

Who is Bitpay?

Bitpay is a leading Crypto Payment service provider used to buy, store and swap Cryptocurrency.

 What are Cryptocurrencies?

Cryptocurrency is a digital currency in which transactions are validated and records are kept by a decentralised system rather than a centralised authority utilising cryptography.

 What cryptocurrencies can I use to pay the invoice?

Bitpay support payment in the following cryptocurrencies:

- Bitcoin (BTC: on-chain, off-chain with Coinbase, and Lightning)

- Bitcoin Cash (BCH)

- Ethereum (ETH)

- Wrapped Bitcoin (WBTC)

- Dogecoin (DOGE) 

- Litecoin (LTC)

- Shiba Inu Coin (SHIB)

- Apecoin (APE)

- 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD)

- Euro Coin (EUROC) I A Euro-Backed Stablecoin

- Polygon (MATIC)

Note: Bitpay only accepts ERC-20 coins on the ETH network.

 What cryptocurrencies are supported for a payout?

- Bitcoin

- Ethereum ( Mainnet )

- Ethereum ( Polygon )

- Bitcoin Cash

- Litecoin

- Dogecoin

- USDC ( Ethereum )

- Gemini Dollar ( Ethereum )

- Euro Coin / EUROC ( Ethereum 

- Wrapped BTC ( Ethereum )

Note: Bitpay payout options may update periodically to bring in more cryptocurrencies.

What crypto wallets do you support?

Bitpay supports more than 90 different crypto wallets including BitPay, Coinbase, Exodus Wallet, Ledger Wallet, Trust Wallet, Electrum Wallet, Blockchain Wallet, Metamask, Gemini Wallet, Kraken, BRD Wallet, and more.

You can click on the following link to view the complete list:

View Complete List

 How do I pay my invoice?

Refer to this link:

View

 How long do I have to complete my payment?

You have 15 minutes to complete the invoice after which the transaction would fail if not completed. You will need to contact Bitpay support to get a refund if the amount is sent after expiry.

The status of your deposits and withdrawals would be displayed in the 'ACTIVITY HISTORY' tab of the 'Wallet' section.

Yes, you need to complete the KYC process with Panini before starting the following secondary market activities:

- Deposit into the Panini Wallet using Credit Card/PayPal or Cryptocurrency

- Withdraw from the Panini Wallet to Bank/PayPal or Crypto wallet

- Buy NFT Packs or NFTs from the Secondary Market

- Sell NFT Packs or NFTs in the Secondary Market

Click on the KYC UPDATE tab under SECURITY in the Profile dropdown menu > Settings to start the verification!

Available balance in the Panini Wallet summary is the funds available for purchase.

Locked Balance in the Panini wallet summary is the amount that has been allotted for withdrawals and any offers made using the locked funds feature when utilizing the Panini Wallet as the payment method.

The amounts locked for withdrawal and any offers made using the locked funds feature when utilizing the Panini Wallet as the payment method would be displayed in the 'LOCKED' tab of the 'Wallet' section.

You can place up to a maximum of 50 offers within your available balance after which you need to lock your funds to make an offer using the Panini wallet.

Transactions can have the following statuses:

PENDING - When the user initiates a deposit using cryptocurrency/When the user initiates a crypto wallet or Bank/PayPal withdrawal

PROCESSING - When the crypto deposit into the Bitpay invoice is detected/When the Credit Card or PayPal deposit is in progress

COMPLETED - When a transaction is successfully completed

FAILED - When the crypto deposit transaction is not completed within the 15 minutes allotted by the payment vendor (BitPay)/When a Bank or PayPal withdrawal request fails due to issues such as wrong bank details/When a crypto wallet or Bank/PayPal withdrawal request is rejected by the Panini admin

CANCELLED - When a Crypto or Bank/PayPal withdrawal request is cancelled by the user

For ease of use & and as a security measure, users are not provided with private keys.

Your Panini America Login ID and Password is the key to your wallet.

NOTE : Ensure you enable 2FA and biometrics under the security tab to protect your account.

Only the crypto deposits and crypto withdrawals can be checked on public blockchain explorer.