FAQ

Explore our FAQ for more information about bitcoin and ChainsidePay

ChainsidePay

Can I cancel a request of payment?

Canceling a payment request is only possible in case the payment has not yet been sent. If so, the transaction has to be considered as concluded and cannot be reversed. In case of disagreement or misunderstanding it is possible for the receiver to create a mirroring transaction to pay back the amount received.

Come fare per ricevere bitcoin nel mio sito web?

Per ricevere pagamenti bitcoin sul tuo sito web è necessario creare un webPOS e collegarlo al tuo Conto Bitcoin

How can I activate a POS?

A step-to-step procedure will guide you through the activation process. It can be found in the initial pages of the appPOS by ChainsidePay.

In order to activate a new POS it is necessary to scan the QR code found on the details page of the POS, located in the Business Panel.

If, for any reason, you do not want to use the QR code, it is possible to set the POS manually by:

  1. Accessing ChainsidePay from your laptop;
  2. Going to the page of the POS that you wish to activate;
  3. Inserting the Client ID and the secret listed on the page of the POS.

Creating and activating a webPOS

To activate a webPOS is necessary to open the dedicated page on the Business Panel. From the initial screen, you need to press the button “Add POS”, select the website for which you wish to activate it and insert the Client ID and Secret to associate the POS to its own unique identity.

Creating and activating a mobilePOS

Associating a new device is very easy.

The information necessary are to be found in the POS page, located on the Business Panel. The activation process is as follows:

  1. Download and install the ChainsidePay Merchant app on your smartphone or tablet android;
  2. Open the app and scan the QR code that you find in the Business Panel;
  3. Congrats, your POS is fully functioning, you can immediately start to receive bitcoin payments!

In order to receive updates on the state of payments it is recommended to activate notifications on your mobilePOS. You will then be notified every time a new payment gets confirmed.

How can I receive bitcoin on my physical store?

Receiving bitcoin in your physical store will soon be possible with the mobilePOS. The mobilePOS is an app for smartphones and tablets which generates payment orders to direct incoming payments towards you personal account created on the dashboard.

How can I receive bitcoin on my website?

To receive bitcoins on your website you have to proceed with the creation of a  webPOS and link it to your Bitcoin Account

How does ChainsidePay work?

ChainsidePay helps you to accept bitcoin payments on your website with the creation of a webPOS. Once the registration phase is completed, it is possible to create a Bitcoin Account, which will be used as a reference to send the bitcoin received from the customers. Then, a webPOS can be created and linked to your website through APIs to accept Bitcoin payments.

How much does it cost me to open a Chainside account?

Nothing, you can create a new Chainside account for free.

I received a partial payment. What do I have to do?

A partial payment means that only a part of the total amount has been received. The sum received is to be considered as collected; the rest of the amount can be sent with another bitcoin transaction or with an alternative mean of payment (cash or card).

I received an unconfirmed payment. What do I have to do?

In order to consider a payment as final merchants have to wait for the bitcoin transaction to confirm it and put in inside of a block. Once confirmed, the payment will figure in your spendable balance. Considering an unconfirmed payment as concluded and final means trusting that the payer will not try to commit fraud and attempt to double spend the funds.

In which states can a payment be?

A payment can be in one of the following states:

Waiting: a payment is in the waiting state when the payment order has already been created, but a transaction to fulfil it still has to be seen on the Bitcoin network

Received: a payment is considered as received when it appeared on the network, but it still has to be confirmed. Before considering the payment as finalised,  it is advisable to wait until it gets in the confirmed state, especially for high value transactions, as before the network confirmation a risk of fraud still exists.

Confirmed: a payment is considered as confirmed once it has been successfully included in the Bitcoin blockchain and cannot be cancelled anymore.

What can I do if a payment is not confirmed for long periods of time?

The cause of such a bottleneck could be the setting of a fee that is too low to be inserted in a block. The only way to reduce the waiting time is then to ask the sender to increase the fee, in case his wallet allows him to do so.

What can I do if the time is expired?

This screen means that the time to create a transaction is expired. Depending on the merchant it will be possible to create a new request or to undo the whole operation.

Where can I have the payments accredited?

Depending on the needs, Chainside provides merchants with two different alternatives:

  • Bitcoin account: receive bitcoin directly in your wallet, with no intermediation. The transfer is immediate and happens as soon as the payment is confirmed. Furthermore, your personal wallet does not need to be online to receive payments.
  • Bank account: the bitcoin received are immediately converted in Euro, with the exchange rate frozen at the moment of reception. This allows merchant to receive funds directly in Euro through a bank transfer, easily traceable. Funds are accredited weekly, for the total value received during that period. The exchange rate is set at the time of reception of all single payments. This service has a commission of 1.5%.

 

 

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