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So basically this can be achieved for almost any coin in this way?
Before getting to more custom options, think about additional information such as
- What is the expected number of new users?
- How much money is planned to be deposited?
- How much deposits are users asking for?
- Does each new user need one address or a number of addresses?
- The nature of the activity you do? In other words, does your site provide additional services, and therefore you need to build everything in a coherent manner, or is it a payment system?
- Is the user allowed to withdraw his money or not?
- your technical expertise?
There are several open source solutions that we can refer to, but if your site is large, it is better to hire a developer in order to avoid any holes in the hot wallet.
This is for Bitcoin, and it is supposed to be the same things for most of Altcoins, with some differences such as in Ripple (XRP,) you have one address, and each user gets a unique tag for each transaction or account (it would be easier if you did not have any technical knowledge).
Basically this would be used mostly for micropayments, and users inside the app can send crypto to each other without fees, only during withdrawals outside of the platform, some fees would be applied.
I'm looking right now - bitcore - which is open-source and possible solution, but not sure if it fits my use-case entirely. I think it would make all of this more complicated then it needs to be.
Basically I will be interacting with blockchain on deposit and withdrawals, all coin movements inside platform would be internal.
