Foreword
In this post i will try to explain what Block.io is and what you can use it for.
This is a really powerful tool for you as website owner or/and developer etc.
On their website there is some short examples in different programming languages.
It is possible for me to show you some PHP real world examples, but this must be in another post. Please post a comment if you think this might be relevant.
Wallet As A Service
Block.io is a service API (Application Programming Interface) where you can create multiple wallets that you control on your website. Theese wallets ofcourse also provides an address to each you creating, then the users/customers etc. will be able to make deposits and then you can control the money, for the purpose of paying or similar.
And at the same time it makes it possible to identify the individual customer/user from the wallet's address.
It's kind of smart.
What Can I Use It For?
Block.io has multiple purposes, but in fact only the imagination sets the limits. It's like Lego, you can build whatever you want and scale it as you please. You can create a wallet for each of your users, each with their addresses for which they can deposit different types of cryptovaluta.
I have made list of few examples of what kind of purposes it has:
- Insant Payments from your customers
- Account Advances (forexample aconto payments)
- Donations
Is It Secure Enough?
It depends a lot on how your codebase structure is built. There are some security measures to consider strongly before you start to plan to use their wallet service.
Eg. In order to manage all of your customers' wallets, it is required to store a private key that you only have as a system operator. To protect this key, it is important that you do not store it directly in your app or website's codebase. This will make your system really vulnerable. Instead, you should rather store them in some environment variables or similar. You can read a lot more on their website Block.io to measure these security issues.
What kind of crypto-wallets does it supports?
The best known wallets are supported. Including Bitcoin, Litecoin and Dogecoin. The 3 mentioned currencies are highly recommended as all 3 are some good everyday crypto currencies.
Of course, at the moment, it is not possible to respond to small payments with Bitcoin. But Litecoin is an instant a good bet for a candidate.
Yes, you can begin today for free
How about begin receiving crypto payments on your website today?
It is free to begin. They have a free package where you can send up to 3 request per second, and you can freely create 100 wallet addresses. This is a good place to start learning to use this webservice! If you have bigger plans you can check out their prices here
I really hope this explanation gave you some knowledge
To finish, i will give some useful links to their website:
Have a nice day