What is cryptocurrency processing ?
Cryptocurrency API (application programming interface) acts as an intermediary that enables the integration of cryptocurrencies with traditional financial systems. This allows digital assets to facilitate payments of services and goods. Cryptocurrency API takes on the responsibility of receiving transactions, processing, and verification. API notifies the client about the payment status, creates a new address and invoice for payment, and keeps track of operations.
Cryptocurrency API expands the capabilities of companies in the world of digital payment acceptance. API provides customers with additional payment options (payments in cryptocurrency), opening access to the global market without restrictions typical of traditional financial payment systems. This revolutionary solution provides flexibility and scalability for enterprises ready to join the digital future.
How does cryptocurrency processing work?
1. The buyer visits the Seller's website, selects a product or service, chooses a cryptocurrency for payment, and sends a request to the Seller.
2. The Seller's server processes the request, reserves the goods, and sends an API request to the Crypto Processing server. It specifies the invoice number, payment amount, maximum waiting time for payment, and other optional parameters.
3. Crypto Processing generates an invoice and sends a unique payment link to the Seller's server. The Seller's server records the unique invoice number (UUID) to the order and forwards the payment link to the Buyer.
4. The Buyer pays the invoice in cryptocurrency within the time specified in the invoice.
5. The crypto-processing system continuously monitors for the appearance of payment, and when a transaction appears on the network, it processes it and records it in the database.
6. Once the transaction receives the required number of confirmations in the network, the crypto-processing system notifies the Seller of the invoice payment.
If the invoice is paid within the time specified by the Seller, the Seller ships the goods to the Buyer; otherwise, the goods are removed from the reserve.
How to use the received funds?
You can use the funds immediately upon receipt, either by using your personal account with your wallet or by using a third-party application where you can import the secret phrase of your wallet. We recommend using our application to ensure that the balance of all your funds is up to date and to avoid errors. We do not take responsibility for the correct operation of third-party applications. Remember that the secret phrase is the key to all your funds in the wallet, and it should not be disclosed to anyone or imported into applications that you do not trust.
In the near future, for the convenience of our clients, the application will implement functionality for exchanging cryptocurrency for traditional fiat currencies.
You can find detailed instructions on how to use our application (personal account) in the documentation. The process of creating invoices and all API methods for connecting to your service to work with them is also thoroughly described there.
Remember, we are always happy to assist our clients with any questions. Please feel free to contact us if you have any inquiries.
Best regards,
ApiForCrypto Team