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I've seen many HYIP (scammy) websites and they all look the same. Despite the scammy part of them, what I like of those websites is that they accept deposits in different currencies, BTC, ETH, XRP, XLM, ZEC you name it.

As soon as the user deposits an amount, he receives a mail confirmation etc.

I believe that behind most of those HYIP sites there are a few teams involved. My question is, do you think they use their own custom solution or they use some available software to manage the deposits, if so, can you list a few solutions one can use to create a website to accept crypto deposits?

Requirement would be, have an address for each customer, or in case of XRP & XLM, have a specific tag associated to the customer. Just like crypto exchanges work.

So far I found coinpayments.net, but from the first sight it doesn't seem to be what I'm looking for....

  • I'd imagine that an HYIP scam site doesn't really need any customer-specific infrastructure, since they are scams that won't pay out anyways. – chytrik Oct 16 at 23:12
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    This is a bit of an "XY-Question". Your main question seems to be about best practices for integrating cryptocurrency payments with a website. The HYIP context appears to be just an example in which you've seen a similar solution than what you're looking for. This question could therefore be improved by editing topic and body to focus on the main inquiry instead of the HYIP use-case. – Murch Oct 16 at 23:30
  • @chytrik the actually pay... for a while. I was fascinated on how their infrastructure works so well and wondering if they probably implemented their own solution/wrapper or if they use something existing like the answer below suggest: bitgo or another famous service. – firepol Oct 17 at 11:54
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Although certain coins have a few available API providers (such as BitGo for Bitcoin), any sane and security conscious company should elect to run their own nodes for each supported currency, manage their own keys, and have their own wrapper to handle deposits and withdrawals by interacting with the nodes.

This is especially relevant for coins like Monero and ZCash, where third party API providers may not be able to view transactions related to your business at all due to privacy protocols.

Once you have the infrastructure in place, the flow you described is essentially correct - you assign an address (or address+memo) to a user, and treat all incoming deposits to that address as coins belonging to that user.

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    Since you mentioned BitGo as a provider of Bitcoin wallets, I wanted to point out that we support 13 cryptocurrencies and over 100 ERC20 tokens. (Disclosure: I work at BitGo.) – Murch Oct 16 at 23:33
  • yes any sane company would do so, but say I want to start playing around, create show case websites etc. then it's an overkill to build a super infrastructure and I'd rather outsource all the infrastructure and use APIs as you describe, which is what I'm looking for. In a later stage I'd say to create all nodes and learn to manage them properly. I'll check bitgo and see how it works, thanks. – firepol Oct 17 at 11:59
  • Purely API recommendations are off topic here since they tend to be outdated easily, but you should be able to find a BitGo style hosted wallet, or an explorer that exposes the JSON-RPC interface for a coin (as etherscan does for ETH) for most popular coins. For privacy coins and less popular ones, you will likely have to operate a node. – Raghav Sood Oct 17 at 12:39

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