Sending Crypto Payouts

This guide outlines the process for integrating crypto payouts into your platform. It allows for the customization of your own payments page, where you can submit the payout address at the time of payment creation, whicih automatically completes the payout.

A crypto payout involves transferring cryptocurrency from your account to an end user's crypto wallet. This quick start guide aims to assist you in adding crypto payout capabilities to your product guiding you through each step of the process—from creating your first payout to developing a user interface ready to gather crypto wallet addresses from your customers.

Payment Out Sequence Diagram

The sequence diagram for a pay out followed in this guide.

The payout path is discussed as follows:

1. The end user will request to make a withdrawal on your system, where you will need to collect the amount for the withdrawals, the cryptocurrency they want, the protocol if applicable to the currency, and their address they want the funds to be sent to.
2. This information will then be forward onto us in the form of a Create Payment request with the type given as OUT.
3. The Create Payment endpoint will validate that the address exists for the cryptocurrency and protocol given.
4. The payout is then processed which will send out a series of webhooks.
5. Once you receive the final COMPLETEwebhook you can poll the Get Payment endpoint to confirm the status and final paid out amount, or take the information from the webhook.
6. Update the end users account accordingly with the confirmed payment amount.

Payment Lifecycle

The payment out process undergoes several statuses throughout its workflow, detailed below:

Status	Immutable?	Description
pending	No	The initial state of a payout, remaining here until a crypto address is provided or the payout request is cancelled.
processing	No	Transitions to this state after a crypto address is submitted, during the processing of the payout.
complete	Yes	Marks the completion of the payout once funds have been successfully transferred.
cancelled	Yes	Indicates a payout has been cancelled or failed; funds stay in the merchant account.

Steps to Follow

This guide covers the following key aspects of accepting crypto payments on your platform:

1. Collecting the end users information: Get the address and cryptocurrency type of the end user.
2. Creating a Payout Request: Instructions on initiating a payout and managing the response.
3. Monitoring Payment Webhooks: Setting up to listen for and handle payment webhooks effectively.

By following these steps, you can efficiently integrate crypto payouts into your platform, enhancing your payment offerings with Layer1.