Simple web platform with BTC wallet to receive and send money

[bastiolasto]

Hi,

I am working on a platform who will provide a BTC wallet to each users to allow them to manage their BTC (receive and send).
For that I will use Bitcoin core but I don't know if I should use getnewaddress for every user or create a dedicated wallet to user.

It is easiest for me to generated new address because I will be able to get the list of transactions for all address in one RPC call, but it is less secure.
I saw on some posts, people saying that creating one wallet per customer will set the server out of memory if I have more than 100K wallets.

Someone already had a similar case ?

Thanks

[LoyceV]

I am working on a platform who will provide a BTC wallet to each users to allow them to manage their BTC (receive and send).

Allow me to stop you right there: why would anyone want to use this? Giving someone else access to your Bitcoin is a terrible idea!

I saw on some posts, people saying that creating one wallet per customer will set the server out of memory if I have more than 100K wallets.

If you have to ask this here, I don't think you should be managing 100,000 wallets.

Someone already had a similar case ?

This reminds me of this topic, maybe you'll find some answers there.

[seoincorporation]

Hi,

I am working on a platform who will provide a BTC wallet to each users to allow them to manage their BTC (receive and send).
For that I will use Bitcoin core but I don't know if I should use getnewaddress for every user or create a dedicated wallet to user.

It is easiest for me to generated new address because I will be able to get the list of transactions for all address in one RPC call, but it is less secure.
I saw on some posts, people saying that creating one wallet per customer will set the server out of memory if I have more than 100K wallets.

Someone already had a similar case ?

Thanks

Hello bastiolasto, I have worked on a depos and withdraw engine for a Casino, and the way I worked around was with 1 wallet. When a user creates an account I use getnewaddress and that data goes to the user table in the database. If the user sends money, the transaction can be spent from any address with a balance and if a transaction comes to the user address then the balance gets an update in the database.

I hope this information helps you with the project.

Allow me to stop you right there: why would anyone want to use this? Giving someone else access to your Bitcoin is a terrible idea!

I agree with you, but sadly a lot of people prefer online wallets like https://www.blockchain.com/wallet, and that site is now a millions worth business.

[BitMaxz]

Why not play with BTCpayserver?

I think you can able to make a website where you can receive and send BTC with BTCpayserver you can read more about BTCpay wallet from this link below.

- https://docs.btcpayserver.org/Wallet/

What you are looking for might be the invoices(To receive/deposit) and payouts(To send/withdraw).

[FatFork]

Allow me to stop you right there: why would anyone want to use this? Giving someone else access to your Bitcoin is a terrible idea!

I agree with you, but sadly a lot of people prefer online wallets like https://www.blockchain.com/wallet, and that site is now a millions worth business.

Even if that's true (I have no idea where that information came from), blockchain.com is still, if I'm not mistaken, a non-custodial wallet. You have full control of your private keys, not the company.
OP's question gives me a bad feeling in my gut, and I would strongly recommend not going this route, unless he is planning some kind of online service where a cutodial wallet is absolutely necessary.

[n0nce]

Even if that's true (I have no idea where that information came from), blockchain.com is still, if I'm not mistaken, a non-custodial wallet. You have full control of your private keys, not the company.

I remember something about them having two wallets; one custodial and one non-custodial, but I may be wrong and it could be a different company.

Anyhow, there are issues with wallets like this, even if they give you access to your seed words. For example:

We’ve Got Your Back(up)

Your encrypted wallet is automatically backed up to our servers.

Can we trust this encryption? Can they extract our keys? If they stole coins, we would notice, but what if they only stole our xpub to deanonymize us? Many uncertainties that can easily be avoided.

OP's question gives me a bad feeling in my gut, and I would strongly recommend not going this route, unless he is planning some kind of online service where a cutodial wallet is absolutely necessary.

Yes, it's 2022 - if they need an account-based deposit system that's one thing; but if they plan to build an online wallet in 2022, they're years behind the widely accepted state-of-the art. Ordinary people use non-custodial, open-source wallet applications on their phones with or without a paired hardware wallet - they don't need online wallets (anymore (?)).

[Pmalek]

What sites allow you to purchase bitcoin and send it to a wallet instantly, or within hours? Specifically an all in one site; where i can purchase my coin, and transfer to my wallet right away as waiting 7 days is just ridiculous.

I have never used Coinbase nor do I plan to. But any good exchange (besides Coinbase) should allow you to withdraw your coins anywhere you want and when you want to. You can try with any of the better ranked ones from https://coinmarketcap.com/rankings/exchanges/. But be advised that almost all centralized exchanges require you to undergo KYC.

If you want to avoid that, you can always opt for Bisq, a decentralized exchange. No KYC, non-custodial wallets with seed phrases, no locked or frozen coins.
https://bisq.network/

[hugeblack]

We can't recommend a good software tool without knowing the size of the database you want to use, the number of users who might register for your database, the number of addresses you want to generate for each user, and the expertise of your developer team.

But as a general answer you can start by reading more information about ----> https://docs.btcpayserver.org/Wallet/

With btcpayserver you can build something like this ----> https://bitcointalk.org/index.php?action=credit;promote