What APIs are commonly used in crypto payment/withdrawal systems?

[tsl]

I'm creating a web application that will allow users to both deposit and withdraw Bitcoin (or any other cryptocurrency that would be possible but mainly looking at BTC atm) and am looking at APIs that can potentially help with designing this system.

I'm currently looking at the Blockchain.com API (was planning on using it with Nodejs if that matters) and am wondering if there are any limitations/drawbacks to it or if there are better options that are known as the standard within the community.

Any help would be much appreciated, thanks!

EDIT: I was also wondering if it is common to see websites/groups using blockchain based transaction systems creating their own in-house transaction system without any API

[OmegaStarScream]

I'm creating a web application that will allow users to both deposit and withdraw Bitcoin (or any other cryptocurrency that would be possible but mainly looking at BTC atm) and am looking at APIs that can potentially help with designing this system.

If you were planning to simply accept payments and delivering products to customers, using an API would've been fine. But in this case, I'd say that running your own bitcoin node and communicating with it is a better idea. See this[1][2].

The first link is for you to understand how to accept payments, while the second is a guide for building your own API in nodejs (it's meant to help you understand how to use the JSON RPC).

EDIT: I was also wondering if it is common to see websites/groups using blockchain based transaction systems creating their own in-house transaction system without any API

Yes. Most of gambling sites and exchanges out there don't use any third party APIs.

[1] https://bitcoin.stackexchange.com/questions/34258/accept-bitcoin-payments-for-orders-without-3rd-party-software
[2] https://medium.com/@peterjd42/build-your-own-bitcoin-api-using-node-js-and-bitcoin-core-251e613623db

[JohnBitCo]

This post regarding  Wallet, deposit and withdrawal management system or APIs  maybe helpful for you.   There are many third party api available which maybe helpful for you.

[jackg]

As oss said, a more secure version would be running a full node on the payment server in order to handle the requests (or getting the server to ping another machine with the request so it can be signed).

If you're low on bandwidth however, I think it's also possible totdo the same thing with electrum (or a modified version of it) os you won't have to skim the entire blockchain to set it up - but some trade off in security has to be taken.


Also don't leave funds on the server for long and don't leave more than would be considered reasonable to lose.