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Title: Secure way to process withdraws automatically Post by: acegilz on October 25, 2013, 03:24:57 PM Hello. Im developing a Bitcoin trading related site.
I would like to know how mtgox and cex.io for example could transfer funds automatically to clients with a reduced exposure. The only measure i can schematize is having two wallets one constantly transfering to cold-wallet so that it doesn't have more than like 0.5% of all funds, and process withdraws as requested. This case in case of server being hacked, only a small portion of funds are stolen. Any other sugestion to implement this? Thanks Title: Re: Secure way to process withdraws automatically Post by: RandomQ on October 25, 2013, 03:55:30 PM "Hot wallet"
"Cold storage" Are the terms you are looking for Title: Re: Secure way to process withdraws automatically Post by: acegilz on October 25, 2013, 03:59:58 PM bad terms but im afraid im around on ideologgy hm?
Title: Re: Secure way to process withdraws automatically Post by: justusranvier on October 25, 2013, 04:08:38 PM Hello. Im developing a Bitcoin trading related site. Send all customer deposits directly to cold storage, and only keep enough in the hot wallet to process n hours of withdrawals. Make sure you always have an employee available to process a cold wallet -> hot wallet transaction every n hours, or sooner if there is a sudden increase in withdrawal demand.I would like to know how mtgox and cex.io for example could transfer funds automatically to clients with a reduced exposure. The only measure i can schematize is having two wallets one constantly transfering to cold-wallet so that it doesn't have more than like 0.5% of all funds, and process withdraws as requested. This case in case of server being hacked, only a small portion of funds are stolen. Any other sugestion to implement this? Thanks Title: Re: Secure way to process withdraws automatically Post by: inform on October 25, 2013, 04:35:33 PM What good method stable this?
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