Integrating crypto wallet addresses into your platform can enhance user experience and expand your business into the Web3 space. CPAY’s Wallet-as-a-Service (WaaS) offers a secure, scalable, and flexible solution for managing, storing, and transferring cryptocurrencies. This guide provides a step-by-step process to seamlessly integrate CPAY wallets, leveraging its robust API and white-label capabilities. Key features include multi-wallet support, non-custodial security, and real-time transaction processing, making it ideal for businesses and developers.
Why Choose CPAY for Crypto Wallet Integration?
CPAY WaaS simplifies crypto wallet integration, eliminating the need for in-house blockchain development. It supports major networks like Bitcoin, Ethereum, Solana, and Avalanche, ensuring multi-currency compatibility. With non-custodial wallets, CPAY’s users maintain full control over their private keys, enhanced by Multi-Party Computation (MPC) for top-tier security, while can offer their end-users crypto wallets addresses generated by CPAY’s API.
Step-by-Step Guide to Integrate CPAY Wallets
1. Obtain API Keys and Authentication Token
To begin, access your CPAY merchant dashboard and generate API keys. These keys authenticate your requests to the CPAY API. Send a POST request to the authentication endpoint to obtain a token, as detailed in the CPAY documentation. This token is essential for all subsequent API interactions.
2. Create Client Wallets
Client wallets are virtual wallets assigned to individual users on your platfrom, reflecting balances tied to the merchant’s wallet, which holds actual crypto assets. To create a client wallet, send a POST request to the wallet creation endpoint, including the client’s identifier. This process, outlined here, enables scalable wallet management for your users.
3. Understand Merchant vs. Client Wallets
- Merchant Wallets: Store real cryptocurrency assets and handle deposits and withdrawals.
- Client Wallets: Virtual wallets mirroring merchant wallet balances, used for user transactions. Funds are transferred from the merchant wallet to the client wallet during withdrawals.
4. Log Into Client Wallets
Before initiating transactions, log into the client wallet using user credentials to generate a wallet-specific token. This step, described in the documentation, ensures secure access to wallet functions like transfers and withdrawals.
5. Facilitate Withdrawals
Withdrawals involve two steps:
- Transfer funds from the merchant wallet to the client wallet.
- Initiate the withdrawal from the client wallet to an external address (e.g., another wallet or exchange). Use the withdrawal API endpoint, detailed here, to execute these transactions securely.
6. Understanding Payment Flow
When your end-user deposits the funds on his unique pre-created Client Wallet on your platform the funds will be deposited firstly into his Client Wallet and then automatically transferred to your Account Wallet.
7. Leverage Additional Features
CPAY wallets offer advanced functionalities:
- Transaction History: Access detailed logs for client and merchant wallets.
- Real-Time Balance Checks: Monitor wallet balances instantly.
- Deposit/Withdrawal Limits: Set transaction caps for risk management.
- Notifications: Receive alerts for deposits, withdrawals, and transfers.
Understanding CPAY Wallet Fees
- Miner Fee: A network fee based on blockchain load, paid to process transactions. Merchants decide whether the client or merchant covers this fee.
- Merchant Fee: A customizable fee set by the merchant for client deposits (e.g., 10% reduces a 0.1 ETH deposit to 0.09 ETH).
- System Fee: CPAY charges 1% for withdrawals and client-to-merchant transfers, plus 0.1% for merchant wallet withdrawals.
Benefits of CPAY Wallet Integration
- Security: MPC encryption ensures private keys are distributed, minimizing risks.
- Flexibility: Supports multiple cryptocurrencies and integrates with any platform.
- White-Label Solution: Launch branded wallets without building from scratch.
- Scalability: Handles millions of users with multi-chain support.
Conclusion
Integrating CPAY wallets empowers your platform with a secure, transparent, and efficient crypto infrastructure. By following these steps—obtaining API keys, creating client wallets, managing transactions, and leveraging advanced features—you can offer users seamless crypto interactions. Explore the CPAY WaaS documentation to start integrating today and unlock the potential of cryptocurrency for your business.
