Adding Crypto Payment Channels
Add Channels to accept crypto deposits to reusable addresses.
To enable crypto top-ups for your users, you'll leverage the Channels feature of our API. A channel serves as a permanent, unique address for each of your end-users, allowing for the receipt of crypto without the necessity of generating a new payment for each transaction. This functionality enables your customers to send crypto to top up their accounts at their convenience. Transactions are detected by BVNK, and your system is updated through webhook notifications.
This guide provides instructions on integrating crypto top-ups via channels into your BVNK-embedded flow. It incorporates the BVNK Hosted Payments Page as a user interface component, guiding end users through the process of depositing crypto. Additionally, you have the option to develop your own payments page based on the data returned in the channel API request response.
Before You Start
At this point, you should have generated API keys for your EP account, established the correct authorization to make requests to BVNK, and created your EPM accounts, which are all equipped with wallets and linked Merchant IDs.
Channel Payment Sequence Diagram
The sequence diagram for channel payment and repeat payment followed in this guide.
Channel Payment Lifecycle
Channel payments undergo various statuses throughout the workflow, as outlined below:
| Status | Immutable? | Description |
|---|---|---|
detected | No | Indicates a new crypto transaction detected at the channel address. BVNK creates a ChannelPayment transaction with the DETECTED status in the Merchant's wallet. The status updates to COMPLETE once the crypto transaction achieves the required confirmations on the network. |
complete | Yes | Reflects that the crypto transaction has received the necessary confirmations on the network. BVNK then updates the ChannelPayment status from DETECTED to COMPLETE, crediting the Merchant's wallet balance. The payment is finalized, and the status will no longer change. |
Steps to Follow
This guide outlines the process for integrating channel payments into your platform for accepting crypto payment top-ups:
- Creating a Channel: Instructions for generating a channel and managing the response.
- Guiding Users to the Channel Payments Page: Directing end users to deposit crypto.
- Monitoring Channel Payment Webhooks: Setting up to listen for and process channel payment notifications.
Ensure each channel is unique to an individual end-user to facilitate accurate reconciliation of funds. Unlike fiat transactions, crypto transactions lack the capability to carry references across the blockchain. Assigning each customer a distinct channel enables precise tracking of their top-ups to their respective accounts on your platform.
Updated 11 months ago