📄Glossary

Crypto acquiring basic terms

Merchant

An individual or organization with access to Inqud's API and authorized to use the Crypto Acquiring API.

User

Or end user (interchangeably), a customer of a merchant who will pay in cryptocurrency for the merchant's services or goods.

Project (Widget)

A core entity of crypto acquiring, linking all operations within its scope. Merchants can select cryptocurrencies available for payment and configure auto exchange settings for each project.

Auto-Convert

After a user sends money to the address specified in the request, Inqud processes the payment and automatically creates an exchange order according to the configured auto exchange rules.

Domain

The domain of a merchant's website, necessary for adding the crypto widget.

Crypto Widget

An embeddable component that merchants can place on their websites to facilitate cryptocurrency payments.

Checkout

An invoice with a specified amount, which can be in fiat currency. Users can select their preferred cryptocurrency within the scope of the checkout and create a request. Inqud handles the conversion between the checkout currency and the user-selected currency. Checkouts outs can be of two types: FIXED_PRICE (with a specified amount) and NO_PRICE (without a specified amount).

Checkout can have only one request linked to it.

Request

A demand for payment, specifying a certain amount of a particular cryptocurrency.

Requests can be of two types: FIXED_PRICE (with a specified amount) and NO_PRICE (without a specified amount).

Request can have only one payment linked to it.

Payment

A payment refers to an actual incoming blockchain transaction processed by Inqud, which is visible on the Wallets page in the user's Cabinet.

Callback (Webhook)

A notification sent by the Inqud system to the merchant's backend to propagate information about payment requests or checkouts. Callbacks enable real-time updates on payment status and other transaction-related events.

Callback (JavaScript)

In the context of a Crypto Widget, a Callback is a JavaScript function that is passed to the widget to handle events related to checkout status transitions. This function is invoked whenever there is a change in the checkout status. The Callback allows for efficient and real-time management of user interactions and payment processes within the Crypto Widget, providing developers with greater control and flexibility in handling transaction events.