If you click the "Receive" button on the Crane app, you'll see three options for receiving crypto. The options are listed below:
Regular Crypto Deposit: It lets you receive crypto into your digital Crane wallet. This is your cup of tea if you want to use crypto as a store of value.
Bank Direct: It's the best option for crypto newbies. It allows you to receive crypto directly into your local bank account. It doesn't require any manual crypto-to-naira conversion. It's an automatic, near-instant, seamless process.
Request Payroll: It's an invoice and payment option in one. It lets you send invoices to your clients and business partners and get paid faster. Less paperwork, more efficiency.
Now that you know the options for receiving crypto on Crane, let's examine how to use each service.
How to Use Regular Crypto Deposit to Receive Cryptocurrency on Crane
It works like this: Receive > Select asset > select wallet address > share the wallet address with your client.
Here is a step-by-step guide on how to receive crypto through the Regular Crypto Deposit.
Step 1: Sign in to the Crane app. If you don't have the app, download it from the Google Play Store or Apple Store and follow the instructions here to create an account with us.
Step 2: Select the Receive option on the homepage.
The Crane app homepage
Step 3: Select Regular Crypto Deposit in the "How do you want to receive?" section.
Step 4: Select the cryptocurrency (aka digital asset) you want to receive from the available options. Currently, you can receive payment in BNB, BTC, DOGE, ETH, TRON, USDC, and USDT on Crane.
The crypto asset page on Crane
Step 5 (optional): Select the network type if your payment is in BTC, USDT, or USDC. Each network type has a distinct wallet ID. The network type you choose on Crane must match the sender's network to avoid payment complications.
We chose BTC as our digital asset and BEP20 as the network type for this tutorial. Regardless of the network chosen for BTC payments, the paying client must send an amount above the minimum deposit limit (0.0001 BTC) to avoid transaction issues.
Read here to know why we have a minimum deposit limit for BTC transactions.
Step 6: Copy the wallet address you generated and share it with your client or business partner.
You'll receive your payments in minutes, depending on the confirmation time of the network type you chose. However, if you experience payment delays, contact support@usecrane.co to resolve the matter.
How to use Bank Direct to receive cryptocurrency on Crane
Bank Direct lets you receive cryptocurrency directly into your local bank account. It works like this: copy and send the wallet address to your client > receive payment in your local bank account in seconds. You don't need to convert crypto to naira manually. Instead, Bank Direct will automatically convert the crypto to naira and send it to your designated bank account.
How to enable Bank Direct on Crane
Step 1: Go to the Settings tab on the Crane homepage > toggle Bank Direct on
Step 2: Set up Know Your Customer (KYC) requirements
Bank Direct is only available to Crane users who have completed KYC Tier 2 or higher. If you're not a KYC Tier 2 user, you'll be prompted to do so to activate Bank Direct.
To upgrade to KYC Tier 2, do the following:
Go to your profile on the Crane app homepage
Select identity verification.
Please provide the necessary documents (NIN, BVN, and a designated bank account for withdrawals) to complete your verification.
Step 3: Select/add bank account for Bank Direct
You can decide to use a preexisting bank account or add a new one for withdrawals. To add a new bank account or select a new one for Bank Direct, do this: click Receive on the Crane homepage > Bank Direct > Choose destination bank click > "Add new" to add a new bank account or select your account from the list of banks on the page.
How to use Bank Direct to receive payments on the Crane app
After activating Bank Direct, follow the steps below to use it to receive crypto on Crane:
Click on Receive on the Crane app homepage.
Select the Bank Direct option.
Choose the bank account to receive payouts.
Select the digital asset to receive payment.
Copy the network and share it with your client. The network you choose on Crane must be the same as your payee's to avoid losing payment. Expect your payment in 150 seconds or less.
How to use Request Payroll to receive cryptocurrency payments on Crane
Request Payroll is Crane's invoice and payment service. It lets you send invoices to clients or employers and get paid in double-quick time.
To use Request Payroll to receive crypto payments, follow the steps below:
I. Click Receive on the homepage of the Crane app
II. Select “Request payroll” on the “How do you want to receive” page.
III. Click Create New to create a new payroll request, as the image below shows:
IV. Fill in the following information:
Client’s name and email
Amount to be paid in $
The crypto asset and network for payments.
After inputting the crypto asset and network, you’ll receive a new wallet address if you don’t have one. If you have a wallet address, the system will automatically attach it, which you’ll see on the preview page.
Additionally, your network and the client's must be the same to avoid payment delays.V. Re-read the payroll before sending it to your client or employer. After confirming the details, click on “Send email” to communicate your request via email.
VI. Edit the email invoice as you deem fit (optional). However, the information you provide must be correct. We also encourage you to communicate your invoice professionally.
After sending the payroll request via email, you’ll see this message on your Crane app:
You can view the status of the invoice on the Request Payroll page.
VII. To send payment reminders to clients, go to Receive>Request Payroll>Set a reminder under the “Pending” section. However, you can only send a reminder 24 hours after sending the initial email.
VIII: To cancel a payroll request, go to Receive > Request Payroll > click view under the “Pending” section > select “cancel this payment.”
Once your client pays you through the embedded wallet in the Request Payroll, you’ll receive the payment within minutes. Chat with us via the in-app support channel or reach out to support@usecrane.co if you experience any delays.