How do I accept cryptocurrency payments?
Note: In order to accept crypto payments for ticket sales, you must have an account with Coinpayments.net. If you don’t have an account, you can register here.
Need more help setting up your Coinpayments account, check out this article.
5 things are needed from your Coinpayments merchant account to start accepting crypto payments from attendees.
IMPORTANT!! Be sure to set the proper permissions in your Coinpayments account before adding your Coinpayments details to your EventChain account. See instructions here.
This is an example from a demo Coinpayments.net account
- Merchant ID
- IPN Secret (You set this)
- Public API Key
- Private API Key
- Permissions for
Finding your Merchant ID and setting an IPN Secret
Go to Account / Account Setting / Basic Settings to find your Merchant ID
Next, go to the Merchant Settings tab to create your IPN secret. Set a good random string that no-one can guess.
Finding your API Public and Private Key
Go to thGo to the main menu and select More / Merchant Tools, then choose “Coinpayments API” under API & IPNs.
Generate a new key and you will now have your Public Key and Private Key.
Once API keys are generated, you will need to “Edit Permissions” to allow 4 commands:
Now that you have your 4 inputs needed to link EventChain to your cryptocurrency payment gateway, go to your EventChain Account Settings / Organizer / How Attendees Pay You section and complete the setup.
Setting up Coinpayments account
If you do not have a Coinpayments.net account, you can signup here.
Part 1: Choosing which coins to accept
Once you have a Coinpayments account, you will want to go to your Dashboard to access the “Coin Settings” to choose which coins you want to accept.
Part 2: Setting payout options
Along with choosing accepted coins, you can select how transactions should be paid out. There are 5 payout options:
To Balance: Received payments are stored in your CoinPayments wallet for later withdrawal at your leisure.
ASAP: Received payments are sent to the address you specify as soon as they are received and confirmed. NOTE: If you choose this option, be sure to provide the wallet address for the same type of coin that is being transacted. It may be impossible to retrieve your tokens if you supply a Bitcoin wallet address for Litecoin transactions for example.
Nightly: Received payments are grouped together and sent daily (at approx. midnight EST GMT-0500). The main benefit of this option is it will save you coin TX fees.
To Balance + Convert: Received payments are converted to the selected coin and stored in your CoinPayments wallet. In some cases such as if the amount received is too large to convert at current market volumes you may receive the original currency instead.
ASAP + Convert: Received payments are converted to the selected coin and sent to the address specified. In some cases such as if the amount received is too large to convert at current market volumes you may receive the original currency instead in your CoinPayments wallet.
Part 3: Viewing coin balances
To see your coin balances and review transactions, go to the Dashboard and “Home” section.
Part 4: Other options
Go to “Your Wallet” section to do other transactions such as manually receive coins to your wallet, send tokens or view a detailed transaction history.