How to setup Ethereum and Bitcoin hosted wallets?

Sellingaccs

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Quote from: jammy99 on March 22, 2018, 10:07:42 AM

Yes i agree with your words, I used incorrect word WALLET. But how is it possible to setup exchange type addresses without any private key for ETH?

They always need to be in posession of the addresses, and deleting private keys completely makes no sense.
Im sure the exchange has the private key, but they don't usually hand those out to customers. If you mean something like bitpay, they do generate the addresses for you and handle the payment and deposit FIAT to your bank account. Coin payments and services like that allow you to accept different cryptos with easy and i guess to exchange all the income for bitcoin or choisen coin. They handle most of the payment technical side.

jammy99

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Quote from: jrrsparkles on March 22, 2018, 02:38:46 AM

Quote from: jammy99 on March 20, 2018, 04:14:56 AM

With a hosted wallet, a third party knows your private keys and doesn't reveal them to you, but the company will send, receive, and store bitcoins on your behalf (not unlike a traditional bank, which stores your cash in a vault and won't give you the keys to open it).

This is what i want to setup into my server,

So you means the exchange wallet?

Exchange wallets keep your private key on behalf oof you and they do the actions as you want like traditional banking system but we can't say exchange as an wallet,wallet means you are owning it and you have the full accessibility to it so private key is essential for an wallet.

Yes i agree with your words, I used incorrect word WALLET. But how is it possible to setup exchange type addresses without any private key for ETH?

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Quote from: jammy99 on March 20, 2018, 04:14:56 AM

With a hosted wallet, a third party knows your private keys and doesn't reveal them to you, but the company will send, receive, and store bitcoins on your behalf (not unlike a traditional bank, which stores your cash in a vault and won't give you the keys to open it).

This is what i want to setup into my server,

So you means the exchange wallet?

Exchange wallets keep your private key on behalf oof you and they do the actions as you want like traditional banking system but we can't say exchange as an wallet,wallet means you are owning it and you have the full accessibility to it so private key is essential for an wallet.

podrick17

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Quote from: jammy99 on March 19, 2018, 06:22:48 AM

Can anyone point me to a URL or youtube video where setting up hosted wallet is describe in easy way?

try myetherwallet.com for ERC20 wallet, actually you don't need a video tutorial for that just read what's inside and you can easily make a wallet in just a few minutes

jammy99

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With a hosted wallet, a third party knows your private keys and doesn't reveal them to you, but the company will send, receive, and store bitcoins on your behalf (not unlike a traditional bank, which stores your cash in a vault and won't give you the keys to open it).

This is what i want to setup into my server,

Sellingaccs

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What do you mean by a "hosted wallet"? You will have to explain your question much better if you wish to get any real and contributing replies.
Is this related somehow to your thread titled working with balance management in a game?
If that is the case, you would need to have programming experience as well as script communicating with the coin daemons.

You'd better hire someone to do that for you, since it seems to me as in you are not very experienced on how those cryptocurrencies work. Bitcoin uses RPC calls, and i assume that Ethereum does as well. For deposits the script should know how to request daemon with getnewaddress (for bitcoin, ethereum does not use same calls) and then report it all the way back to the backend of your site.

jammy99

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Can anyone point me to a URL or youtube video where setting up hosted wallet is describe in easy way?

Topic: How to setup Ethereum and Bitcoin hosted wallets? (Read 146 times)