Understanding Currency on Kingpin
A complete guide to how currencies work across listings, shipping, payments, and payouts. Learn how to set your seller currency, price in different currencies, and understand conversion fees.
The Three-Currency System
Kingpin uses three different currency settings that work together:
- 1.Your Seller Currency (set in Preferences) — What you receive payouts in
- 2.Shipping Zone Currency (set per zone) — How you price shipping rates
- 3.Listing Currency (auto-set to seller currency) — How you price items
Currency Overview
Kingpin supports multiple currencies to serve our global marketplace, but uses a centralized system to ensure clarity and avoid confusion.
Supported Currencies
US Dollar (USD)
Primary currency
Used by sellers in the United States and other USD-based regions. Stored as cents (100 cents = $1.00).
Korean Won (KRW)
Regional currency
Used by sellers in South Korea. Stored as whole won (no subunits).
Important: Once you set your seller currency during account setup, it determines your payout currency and listing currency. This ensures consistency across your entire selling experience.
How Currency Works End-to-End
Understanding the complete flow from listing to payout helps you price effectively and anticipate any conversion fees.
You Set Your Seller Currency
In Preferences → Currency & Country, you choose USD or KRW. This becomes your default for all listings and payouts.
Configure Shipping Zones (Optional)
Each shipping zone can have its own currency. Example: A US seller can price domestic shipping in USD but international shipping in KRW.
Create Listings
All new listings automatically use your seller currency. You cannot change listing currency after creation.
Buyer Checkout
Shipping costs are converted from zone currency to listing currency at current exchange rates. Buyer sees total in listing currency.
Payment Processing
Stripe processes payment in listing currency. If different from your payout currency, a 1% conversion fee applies.
You Receive Payout
After the hold period, you're paid in your seller currency via your connected Stripe account.
Your Seller Currency
Your seller currency is the foundation of your pricing and payout system. Choose it carefully based on where you're located and how you want to receive payments.
Where to Set Your Seller Currency
Navigate to Preferences
- 1.Click your profile → Account Settings
- 2.Select Preferences tab
- 3.Under "Country & Currency", choose your country
- 4.Currency is auto-set based on your country
How Seller Currency Is Determined
| Your Country | Seller Currency | Payout Account |
|---|---|---|
| 🇺🇸 United States | USD ($) | US bank account (USD) |
| 🇰🇷 South Korea | KRW (₩) | Korean bank account (KRW) |
Critical: Your seller currency must match your Stripe Connect payout account currency. If you're based in Korea, you must use KRW for both your seller currency and receive payouts to a Korean bank account in KRW.
What Seller Currency Controls
- Listing prices — All new listings use your seller currency
- Payout amounts — You receive earnings in this currency
- Fee calculations — Platform fees are calculated in this currency
- Stripe Connect account — Must match for successful payouts
Shipping Zone Currencies
Shipping zones have their own currency setting, allowing you to price shipping in the most convenient currency for each region.
Why Separate Shipping Currencies?
Shipping carriers often quote rates in specific currencies based on origin and destination. Separate zone currencies let you:
Match Carrier Rates
Price domestic shipping in local currency without constant conversion
Simplify Accounting
Track shipping costs in the currency you pay carriers
Easy Updates
Update rates when carrier prices change without currency math
Regional Flexibility
Use different currencies for domestic vs international zones
Country-Currency Pairing Rules
Not all currencies are available in all countries. Your country determines which currencies you can receive payouts in through Stripe Connect.
How It Works
When you select your country in Preferences, the system:
- 1
Checks Stripe Connect availability
Verifies your country supports Stripe Connect for payouts
- 2
Determines supported currencies
Identifies which currencies you can receive payouts in
- 3
Auto-sets your currency
Uses your country's default currency automatically
- 4
Validates your selection
Ensures your currency choice is supported in your country
Supported Countries
Kingpin supports sellers in 40+ countries. Here are key regions:
North America
Asia Pacific
Listing Currency Rules
Understanding listing currency rules helps you avoid currency mismatches and ensures smooth transactions.
Rule 1: Auto-Set to Seller Currency
All new listings automatically use your seller currency. If you're a US seller (USD), all listings will be in USD.
Rule 2: Currency Mismatch Detection
If you change your seller currency, existing listings won't automatically update. The system will detect the mismatch and show a warning banner.
Rule 3: Cannot Publish With Mismatch
You cannot publish a listing if its currency doesn't match your current seller currency.
Currency Conversion Fees
When listing currency differs from payout currency, a 1% conversion fee applies. Understanding when this applies helps you price effectively.
When Conversion Fees Apply
No Conversion Fee
- ✓ Same currency throughout
- ✓ USD seller with USD listing
- ✓ KRW seller with KRW listing
1% Conversion Fee
- ! Different currencies
- ! USD listing, KRW seller
- ! KRW listing, USD seller
Best Practice: Keep listing currency same as seller currency to avoid the 1% fee.
Lightning Payments (Bitcoin)
Kingpin supports Bitcoin Lightning Network payments with lower fees and no currency conversion.
Lightning Payments Are Currency-Agnostic
When a buyer pays with Bitcoin Lightning, prices are automatically converted to satoshis. You receive payouts directly to your Lightning address—no bank account needed.
Fee Comparison
| Fee Type | Card | Lightning |
|---|---|---|
| Platform | 7% | 5% |
| Processing | ~2.9% + $0.30 | 1% |
| Conversion | 1% (if applicable) | None |
Real-World Examples
Concrete examples showing how currency flows through transactions.
Example 1: US Seller, No Conversion Fee
Example 2: Currency Mismatch (1% Fee)
Common Questions
Quick answers to currency questions.
Can I change my seller currency after creating listings?
Yes, but you'll need to manually convert existing listings using the 'Convert' button. You cannot publish listings until they match your current seller currency.
Do shipping zone currencies affect my payout?
No. Zone currency only affects how you enter rates. At checkout, shipping is converted to listing currency, and you're paid in your seller currency.
When does the 1% conversion fee apply?
When listing currency ≠ payout currency. Stripe applies this fee before sending you money. Match your listing currency to your seller currency to avoid it.
Can I receive payouts in multiple currencies?
No. You choose one payout currency per country. Some countries support multiple options (e.g., Canada: CAD or USD).
What if my country isn't supported?
Stripe is constantly expanding. Check stripe.com/global for updates. If you have a bank account in a supported country, you can use that country's currency.
Still Have Questions?
If you're unsure about currency settings for your specific situation, our support team is here to help.