Advise on accepting payment to my wallet

avatar_kiyoshi

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Activity: 1106

Merit: 1000

Quote from: zoufou on March 07, 2017, 12:50:04 PM

Quote from: avatar_kiyoshi on March 07, 2017, 07:37:51 AM

Quote

My questions are:
Is this a good, secure and fast approach for accepting payments ?
In case user is sending a second payment to the same address, what's the best way to handle it ?

That's good I think.
Secure is depends on your wallet, you should improve your wallet, buy hardware wallet.
Fast, it's depends on the transaction fees, it's back to the buyer, I think you should put a warning to buyer about transaction fees.

For case buyer sending 2nd payment, well you don't delete the address, buried to archive. And for every transaction whatever is come from same buyer, that should generate new address.

What's the point with hardware wallets ? i dont get it where everyone says hw wallets are more secure than soft wallets ...

If you want to running a serious business, I think you should take a look hardware wallet, because have more security feature rather than soft wallet.
https://en.bitcoin.it/wiki/Hardware_wallet

zoufou

member

Activity: 114

Merit: 10

Quote from: avatar_kiyoshi on March 07, 2017, 07:37:51 AM

Quote

My questions are:
Is this a good, secure and fast approach for accepting payments ?
In case user is sending a second payment to the same address, what's the best way to handle it ?

That's good I think.
Secure is depends on your wallet, you should improve your wallet, buy hardware wallet.
Fast, it's depends on the transaction fees, it's back to the buyer, I think you should put a warning to buyer about transaction fees.

For case buyer sending 2nd payment, well you don't delete the address, buried to archive. And for every transaction whatever is come from same buyer, that should generate new address.

What's the point with hardware wallets ? i dont get it where everyone says hw wallets are more secure than soft wallets ...

avatar_kiyoshi

legendary

Activity: 1106

Merit: 1000

Quote

My questions are:
Is this a good, secure and fast approach for accepting payments ?
In case user is sending a second payment to the same address, what's the best way to handle it ?

That's good I think.
Secure is depends on your wallet, you should improve your wallet, buy hardware wallet.
Fast, it's depends on the transaction fees, it's back to the buyer, I think you should put a warning to buyer about transaction fees.

For case buyer sending 2nd payment, well you don't delete the address, buried to archive. And for every transaction whatever is come from same buyer, that should generate new address.

harrishedge

member

Activity: 114

Merit: 10

Generating new addresses for payment everytime a user asks for it let's them think your service a unique type really

divinemaniac

member

Activity: 112

Merit: 10

I think that instead of marking an address as reserved, you should put the address in that particular user's record in the users table and delete that particular address from the addresses pool. This would make it more managed.

If you run out of addresses, you can create a new one and add it to the user's record instead of adding it to the pool.

vandres

member

Activity: 158

Merit: 12

UniFox

I don't get the point on this process.

Why giving every customer a new address?

btcdevil

legendary

Activity: 1302

Merit: 1027

If you want to keep track of the customers who are sending the payment to which address then you have to give a new address to each customer and when ever they are sending to the address you will be knowing about it. So this way you can keep the record of the users who are doing business with your more times.

Apart from that what you are doing is also good but in that way you will be needing lot of address for each customer and it will be very tough work to keep records. So you have to see the alternate of this or keep a single wallet address for all customers and keep records of customers purchases

zoufou

member

Activity: 114

Merit: 10

Hi guys !

I'm building a website where i accept btc payments, here's the key elements to describe my process to accepting payments:

I generate a pool of addresses and keep them available in DB, to avoid asking for new address whenever a user wants to pay
I pick up an unused address whenever a user asks for payment, the address is flagged as 'reserved' so no one can take it, even if no payments are received on it
I wait for the walletnotify to tell my app a transaction were initiated on that address, will mark the address as 'having an ongoing transaction' and will wait for blocknotifications till reaching desired number of confirmations (3)
Everytime blocknotify calls my app i go check all 'ongoing transactions' within the received block and test for confirmation count, if >3 then transaction is marked done and payment is approved

My questions are:

Is this a good, secure and fast approach for accepting payments ?
In case user is sending a second payment to the same address, what's the best way to handle it ?

Thx !

Topic: Advise on accepting payment to my wallet (Read 1193 times)