TYPES OF DEPOSITS
WITHOUT EXCHANGE
Is an operation that allows merchants to receive cryptocurrency at the address generated by the CryptoProcessing.com. If the transaction is successful, the balance will be topped up with the appropriate amount in cryptocurrency that was sent to the generated address. For example, a user sends a certain amount in BTC on the website, and the merchant receives the top up of the BTC balance.
WITH EXCHANGE
TO CRYPTOCURRENCY
Is an operation that allows merchants to accept funds that are automatically exchanged to a specific type of cryptocurrency from another currency at the current exchange rate before being added to a balance. For example, if a user sends a certain amount in BTC on the website, the merchant receives the top up of the USDT Balance.
WITH EXCHANGE
TO CRYPTOCURRENCY
Is an operation that allows merchants to accept funds that are automatically exchanged to a specific type of Fiat currency from another currency at the current exchange rate before being added to a balance. For example, if a user sends a certain amount in BTC on the website, the merchant receives the top up of the EUR Balance.
If a merchant has a bank account confirmed and verified, it is possible to top up the merchant’s balance in the corresponding fiat currency by means of bank transfer in SEPA and SWIFT.
IN SIMPLE WORDS…
A merchant has a crypto payment form on his website.
When a new user presses “pay with crypto” button and chooses the currency, the merchant sends us an addresses/take request.
In the response we send him a newly generated address that the merchant shows to the user. This address can be either a simple deposit address or a deposit-exchange address in case if the merchant keeps his balance in a certain currency.
The user copies this address or scans the QR code generated by the merchant and goes to his wallet app. In his wallet he submits the amount and sends the funds to the generated address.
We will be able to recognise this transaction when it will reach the network. When it is confirmed either by GAP600 or in the network we credit the funds to the merchant account and send him a callback with a ‘confirmed’ status. After that the merchant adds the balance to the user on his side.
This address from now will be linked to the user on the side of the merchant. The user can save it and send funds to it anytime he wants. This address doesn’t expire.