What is the Sheepy deposit feature and how to use it

What is a deposit?

The Deposit feature enables merchants to add funds to their balance to use our mass payouts product. This feature is particularly useful for businesses that need to distribute payments to multiple recipients.

How to use the deposit feature

To make a deposit to your balance, please follow these steps:

1. Log in to your Sheepy account. If you don’t have an account yet, you can sign up here.

Once you are logged in, click on the “Balance” tab in the left menu and click on “Deposit” button.

2. Choose the deposit type.

You will be presented with two primary deposit options: fiat (EUR) or cryptocurrency.

The full list of supported cryptocurrencies is as follows:

• Bitcoin Cash BCH
• Tether ERC20 USDT (ETH)
• Bitcoin BTC
• Ethereum ETH
• XRP XRP
• Litecoin LTC
• TRON TRX
• TRC20 BTT USDT (TRX)

Select the option that best suits your current needs.

3. Depositing with cryptocurrency

If you choose to deposit using cryptocurrency, you’ll have further options:

• Direct deposit: This allows you to deposit the cryptocurrency directly into your account. The amount deposited will be reflected in the same cryptocurrency. Select the desired cryptocurrency (e.g., LTC) as the currency for deposit and “No conversion” option. Click “Retrieve address”.

Copy the provided cryptocurrency wallet address and send your desired deposit amount to it.

After the transaction receives the required number of confirmations, the funds will be credited to your LTC account (in this case).

• Deposit with conversion: This option enables you to convert your cryptocurrency into TRC20 tokens at the prevailing market rate. Select the desired cryptocurrency (e.g., LTC) as the currency for deposit and “TRC20 BTT USDT (TRX)” option. Click “Retrieve address”.

Copy the provided cryptocurrency wallet address and send your desired deposit amount to it.

After the transaction receives the required number of confirmations, the funds will be credited to your TRC20 BTT USDT account (in this case).

4. Depositing with EUR

If you opt for depositing in EUR, note that it will automatically be converted to TRC20 tokens.

Select “Euro (EUR)” as the currency for deposit and “TRC20 BTT USDT (TRX)” option. Click “Retrieve address”.

Send the desired amount in Euros from your bank account using the provided details.

Deposit status

After sending funds, you can track the status of the deposit on the ”History” page under the Deposits tab.

Once you complete the deposit process, your transaction status will be updated.

The deposited amount, post any conversions, will reflect in your merchant account balance on the “Balance” page.

Deposits are a straightforward yet vital part of managing your finances on Sheepy. By understanding how to effectively utilize this feature, you can ensure smoother financial operations and better manage your merchant account.