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Mycelium to Cash Wallet

Using Mycelium Wallet and BX.in.th

You can use Mycelium Bitcoin wallet with your BX.in.th account in order to receive bitcoins
and automatically convert them into Thai Baht in your bank account

This tutorial will explain how to setup your BX.in.th and Mycelium

Note: you must have a verified BX.in.th account in order to use this service

Why do this?

This can be used as a simple merchant processing system. If a customer wants to pay for something in BTC at your shop, you can just show them your Mycelium wallet address to make their payment. You'll receive Thai Baht at your bank account.

Step 1: Auto-Sell Bitcoin Address

First we need to setup your BX.in.th Bitcoin deposit address so that every time you receive a deposit at the address it will automatically sell the bitcoins.

  1. Login to your BX.in.th account and visit your deposit page My Funds » Deposit
  2. Click the Auto-sell Disabled button above your Bitcoin address
  3. Set auto-trade to THB
  4. *Suggested:* Choose the Market Rate selling option
  5. Click Create Macro

NOTE: You can set a Percent to Sell, so for example, if you want to keep 50% of the bitcoins you receive, and convert the other 50% into THB, then set "50" in the percent box.

Step 2: Auto-Withdrawal

Now setup an auto-withdrawal, so that every time THB appears in your BX.in.th account, it will be auto-withdrawn to your bank account

  1. Visit the Macro system under My Funds » Macros / Auto-sell
  2. Select the Auto-Withdraw option and click the Create Macro button.
  3. Choose currency THB, enter your bank account details, and set the Balance Great Than and Withdraw Down to options to "0" (setting these to 0 will transfer your full THB balance into your bank each time)
  4. Click Create Macro

Step 3: Setup Mycelium Wallet

  1. Install Mycelium wallet (available in Play Store and App Store) on your phone
  2. Run Mycelium and visit the Accounts tab.
  3. Press the key+ (+) button in the top corner
  4. Choose the Advanced option and enter your PIN
  5. Press the Scan button
  6. On your computer visit your BX.in.th deposit page My Funds » Deposit, and scan the QR code below your Bitcoin deposit address

Step 4: Using your wallet

Whenever you want to get paid via Bitcoin, just open the Mycelium wallet and press the QR code on the BALANCE tab.

When the payer sends you bitcoins you will see the incoming transaction on your wallet screen to verify that they really sent the payment.

As soon as the bitcoins reach your BX.in.th account they will automatically be converted to THB, and then transferred to your bank account.


Notes

  • Balance shown in Mycelium does not represent your true BX.in.th balance
  • You cannot spend funds from Mycelium using this address (it is a Watch-Only address)
  • Standard Thai Baht withdrawal fees apply: to save on fees you can set a withdrawal threshold; your balance will not be withdrawn until it goes over the withdrawal threshold.