Deposit received notification

Once the end-user sends funds from their wallet, transaction-specific events will be broadcasted on the blockchain. We listen for such blockchain events and will send them to you via an endpoint provided by you when creating your business through the dashboard.

Based on our instant deposit feature an event will be sent to you as soon as we see a new deposit transfer broadcasted on the designated wallet address. At this stage, the status of the transaction is still UNCONFIRMED We run an internal probabilistic algorithm to help us identify double spent attempts or illicit transactions. If we detect such a case we won't propagate this event to you systemically and will instead contact you about it. Note that only UTXO-based coins (BTC, LTC, BCH etc.) have such an event, whereas account-based coins (ETH, ERC20, XLM, XRP) don't.

If the deposit doesn't meet our instant deposit conditions a notification will be sent once the transaction is added in a block and there is 1 blockchain confirmation.

This callback notification is sent on your depositReceivedCallbackUrl endpoint.

The networks of some coins like XRP and XLM are extremely fast. It takes literally ~1 second to verify and confirm a transaction once it is broadcast on the network.

On average a Bitcoin transaction to be included in a block requires ~15 minutes. By using Finrax you'll be able to credit Bitcoin deposits in less than 10 seconds.

Schema

Parameter	Type	Description
actualDepositAmount	number	Actual amount deposited in cryptocurrency (`depositCurrency`) by the end-user. Can be different than the `expectedDepositAmount`
actualDisplayAmount	number	Actual amount deposited in `displayCurrency` currency (e.g.`EUR, USD, GBP, TRY etc..)`Can be different than `expectedDisplayAmount`
clientPaymentId	string	Unique payment identifier provided by the merchant in the request body of POST `/payments`
depositCurrency	string	Cryptocurrency that has been deposited
settlementAmount	number	Amount deposited in `settlementCurrency`
settlementCurrency	string	The currency in which the merchant's account was credited because of the deposit (can be either fiat or cryptocurrency)
depositId	string	Unique Finrax deposit identifier `UUID`
onChainFee	number	Blockchain cost for this deposit paid by the end-user
depositAddress	string	Your unique blockchain address supplied by Finrax where the deposit was received.
fromAddress	string	The blockchain address from which the payment originated.
transactionId	string	Unique blockchain transaction ID of the deposit
displayCurrency	string	The fiat currency chosen for display (denomination) purposes
expectedDepositAmount	string	Amount in cryptocurrency to be deposited to fulfil the required amount in `displayCurrency`
displayServiceFee	number	Finrax commission in `displayCurrency`for the concrete deposit
settlementServiceFee	number	Finrax commission in `settlementCurrency`for the concrete deposit
expectedDisplayAmount	number	Amount in `displayCurrency` requested for this payment
network	string	The network on which this deposit occurred
expirationTime	number	Timeframe at which the payment link against which this deposit was received expires
paymentId	string	Unique Finrax payment identifier `UUID`
paymentReceivedAt	number	Timestamp when the payment was received `UNIX`
paymentRequestedAt	number	Timestamp when the payment was requested `UNIX`
status	string	Can be only CONFIRMED.
rateType	string	Rate type of the deposit (FIXED or FLOATING). Depends on the payment rate type and the time frame within which the deposit was created by the end-user. Fixed vs Floating rates.

Deposit received notification

Schema#

Schema