Deposit adress notification

[usmerk66]

Working on building a small exchange, someting like sideshift.ai.

 When a user sends crypto to the deposit adress, he will get a notification that they are accepted by the blockchain network.
 Something like:
" thanks for your deposit, We will now exchange your BTC and send 0.124 ETH  to your wallet. You can now close your browser if you want".

I will have like 50 different coins in total, so not only BTC and ETH.


will this work?
https://cryptoapis.io/products/blockchain-events

Would be great with a free one but i could pay few dollars i have to.
Or maybee some other way of doing it?

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[bitmover]

There is this free api from blockchain.com that does exactly that

https://www.blockchain.com/explorer/api/api_receive

Receive Payments API V2
Accept bitcoin payments seamlessly
You provide an extended public key (xPub) and we generate a unique, unused corresponding address for your customers to send payment to. We notify you of payments to that address instantly using a callback URL of your choosing.

This looks not complex to set up and all you need is the xpub

[seoincorporation]

When a user sends crypto to the deposit adress, he will get a notification that they are accepted by the blockchain network.
 Something like:
" thanks for your deposit, We will now exchange your BTC and send 0.124 ETH  to your wallet. You can now close your browser if you want".

I don't think this is right, the user should get the message when the deposit is confirmed and not when the deposit is sent to the address, and this is really important because if you make a swap without confirmation people would be able to abuse your system with a double spend.

And the way to do this directly from your coin node, is with the command "blocknotify", each time your node detects a node you should verify if there is a depo. That's the way to do it in the backend.

[usmerk66]

When a user sends crypto to the deposit adress, he will get a notification that they are accepted by the blockchain network.
 Something like:
" thanks for your deposit, We will now exchange your BTC and send 0.124 ETH  to your wallet. You can now close your browser if you want".

I don't think this is right, the user should get the message when the deposit is confirmed and not when the deposit is sent to the address, and this is really important because if you make a swap without confirmation people would be able to abuse your system with a double spend.

And the way to do this directly from your coin node, is with the command "blocknotify", each time your node detects a node you should verify if there is a depo. That's the way to do it in the backend.

so this will not work?
https://www.blockchain.com/explorer/api/api_receive

No, just look at mycelium wallet where you can see you are reciving btc but it still has no confirmation.

[rat03gopoh]

No, just look at mycelium wallet where you can see you are reciving btc but it still has no confirmation.

And try to transfer bitcoins with status 0 confirmation, then it won't work, neither will you.
Mycelium has a different function from the instant exchange, all the numbers displayed fully reflect the state of the actual wallet address onchain. It is far from being abused.

[OmegaStarScream]

I already gave you a few sites in your previous post, have you looked into them? If not, you should. They have notifications API[1][2]. The site you mentioned should do the trick too, but not with the free tier because it looks like it's only available with the testnet.

For bitcoin, yes blockchain.com API is fine:

This method monitors an address of your choice for received and / or spent payments. You will be sent an HTTP notification immediately when a transaction is made, and subsequently when it reaches the number of confirmations specified in the request.

Also, please try to not make multiple posts about the same subject.

[1] https://www.quicknode.com/quickalerts
[2] https://www.alchemy.com/notify-api

[moneystery]

Working on building a small exchange, someting like sideshift.ai.

 When a user sends crypto to the deposit adress, he will get a notification that they are accepted by the blockchain network.
 Something like:
" thanks for your deposit, We will now exchange your BTC and send 0.124 ETH  to your wallet. You can now close your browser if you want".

I will have like 50 different coins in total, so not only BTC and ETH.


will this work?
https://cryptoapis.io/products/blockchain-events

Would be great with a free one but i could pay few dollars i have to.
Or maybee some other way of doing it?

It will be a little wrong if you want to implement logic like this, because usually only when a number of confirmations are calculated, then the system will send a notification that their payment is made to us, whether it's via email or telephone number. And moreover, usually APIs like this will be paid, so you need to think about the economic value of the exchange you build to be able to pay for services like this.

I found an exchange service that you can copy to build the exchange the way you want, the name is https://changelly.com, you can see that they are very good at building their system and I've used the service, and I think it's pretty good, but we need to exchange min 23 USD to be able to use this service, so I don't use it much.

[Cryptoababe]

Ive seen some exchanges like this some years back. Although, I dont use them anymore. But if you can make your exchange decentralised, you will get more users. I know there is always a way to program anything and make your self save some profits with every exchanges. There should also be liquidity providers who will be earning some certain amounts.

[bitmover]

I found an exchange service that you can copy to build the exchange the way you want, the name is https://changelly.com, you can see that they are very good at building their system and I've used the service, and I think it's pretty good, but we need to exchange min 23 USD to be able to use this service, so I don't use it much.

This is not really an exchange, but a swap system.

They just swap crypto x crypto in a centralized service.
Those services are not as reliable and good as a Defi such as uniswap, because Changelly is centralized. They also ask for kyc.

[usmerk66]

I already gave you a few sites in your previous post, have you looked into them? If not, you should. They have notifications API[1][2]. The site you mentioned should do the trick too, but not with the free tier because it looks like it's only available with the testnet.

For bitcoin, yes blockchain.com API is fine:

This method monitors an address of your choice for received and / or spent payments. You will be sent an HTTP notification immediately when a transaction is made, and subsequently when it reaches the number of confirmations specified in the request.

Also, please try to not make multiple posts about the same subject.

[1] https://www.quicknode.com/quickalerts
[2] https://www.alchemy.com/notify-api

Alchemy had only 4 networks to choose from, ethereum, optimism, polygon, and arbitrum.
I need also BTC, FTM, SOLANA, AVALACNHE network.

And quicknode was not free, its like 50 usd a month.
But thanks anyway

[usmerk66]

Working on building a small exchange, someting like sideshift.ai.

 When a user sends crypto to the deposit adress, he will get a notification that they are accepted by the blockchain network.
 Something like:
" thanks for your deposit, We will now exchange your BTC and send 0.124 ETH  to your wallet. You can now close your browser if you want".

I will have like 50 different coins in total, so not only BTC and ETH.


will this work?
https://cryptoapis.io/products/blockchain-events

Would be great with a free one but i could pay few dollars i have to.
Or maybee some other way of doing it?

It will be a little wrong if you want to implement logic like this, because usually only when a number of confirmations are calculated, then the system will send a notification that their payment is made to us, whether it's via email or telephone number. And moreover, usually APIs like this will be paid, so you need to think about the economic value of the exchange you build to be able to pay for services like this.

I found an exchange service that you can copy to build the exchange the way you want, the name is https://changelly.com, you can see that they are very good at building their system and I've used the service, and I think it's pretty good, but we need to exchange min 23 USD to be able to use this service, so I don't use it much.

yes i know changley, but they have high fee what i remember.
On my exchange, i would have like 1% fee, not 5-10% like changley.