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Inout Blockchain FiatExchanger
Frequently Asked Questions
Inout Blockchain FiatExchanger is a premium and secure cryptocurrency exchange platform script, that helps you launch a cryptocurrency exchange service online.
1
What is Inout Blockchain FiatExchanger?
Inout Blockchain FiatExchanger is a cryptocurrency exchange script that allows our customers to run a fully fledged sophisticated crypto currency exchange system that can trade various crypto currencies against real world money (for example, USD, EURO etc). Examples of possible trading pairs are BTC-USD, ETH-EURO etc.
You have the option to add as many FIAT currencies you want which you can (or want to) support from your exchange. The default version of the script supports around 20 cryptocurrencies but pairing it with various FIAT currencies, you can create an exchange of 100+ trading paris if you want to.
2
Where does Inout Blockchain FiatExchanger get the trading data?
Inout Blockchain FiatExchanger is a fully fledged exchange script and it doesn’t depend on third party services to get the exchange data. It is more like sophisticated exchanges like Binance/Bittrex where users can freely buy/sell/exchange crypto assets or Fiat money. The price totally depends on the buy/sell tension the users are creating like every other exchange. In other words the price of various trading pairs of Inout Blockchian FiatExchanger is purely a result of organic open buy/sell tension within the exchange between the real end users who're using the platform.
3
Where are my crypto assets stored?
In the default version of FiatExchanger, the cryptocurrencies are stored in your secure online wallet at coinbase.com under your coinbase account (yes you need to have a FREE coinbase account) . In fact, each of your customers gets a unique deposit address (which ultimately belongs to your main coinbase account) automatically, to where they are depositing the crypto assets. Inout FiatExchanger can track these deposits and credit it against their account maintained in the exchange platform (based on Inout Blockchain FiatExchanger script) . In reality, the money is deposited in your own main coinbase wallet securely. That means only one coinbase account is maintained (which you own) and all user deposits will be credited to your account through different deposit addresses used by each of your users. Reading through the deposit address (using coinbase API) we figure out to which user account in the exchange platform the deposit to be credited to.
4
Coinbase is not supported in my country? What are my other options?
The wallet feature of Coinbase is in fact supported around the globe. Only the buy/sell/exchange feature is limited to some countries. We are using coinbase API ONLY as a wallet service. So even if Coinbase as a whole is not supported fully in your country, since the wallet feature is universally supported (and is FREE) you can use coinbase as your secure online wallet to use it connection with the script.
Having said that if you would like to store the crypto assets on your own server, this is possible using the Bitcoin wallet add-on and various other add-ons we are providing. Anyway, that is not necessary, and many of our clients trust coinbase as their preferred online wallet.
Having said that if you would like to store the crypto assets on your own server, this is possible using the Bitcoin wallet add-on and various other add-ons we are providing. Anyway, that is not necessary, and many of our clients trust coinbase as their preferred online wallet.
5
I see Coinbase wallet supports only a limited number of coins (around 20). Can we use bittrex/binance wallet instead which supports 100+ cryptocurrencies, so that we can start supporting such a large number of cryptocurrencies immediately?
Bittrex/Binance etc are technically exchanges, not wallet services. The problem with most of the exchanges is that, since they are not online wallet providers they won’t support creating a large number of deposit addresses under your one single account. In our case, we need a service which allows us to create a large number of addresses created under your main account, so that we can assign one address to each of your customers. As we indicated earlier, each of the deposit addresses your end customers receive from the platform actually belong to your one common wallet which you fully control. Hence the common one wallet account should be able to create a large number of addresses. Coinbase is one very reliable (and trusted widely) such service that allows you to create a large number of deposit addresses under your main wallet account! Bittrex and many other services limit the number of deposit addresses we can create for each cryptocurrencies. So using an exchange account/API is not a wise option for us to use in connection with the script.
6
Still, I really don’t want to trust any online wallet service (irrespective of whether it is coinbase or if the wallet is hosted in the server using your addon). I’m worried about hackers if I host crypto assets in a network that is connected to the internet. Can you help us?
In fact, you should be worried! Occasionally we read stories about exchange hacks and news about how millions of worth crypto currencies are stolen from exchanges. So we figured out a possible solution for this! You really don’t have to store any crypto asset in your server or even in coinbase beyond a limit! Instead, you can configure a threshold limit parameter in your admin area. As your online crypto balance reaches a threshold, Inout Blockchain FiatExchanger can automatically move the excess assets to your preferred external wallet (for example to a hardware wallet). Which means you may choose to store only 1% online (coinbase/software wallet) and 99% of resources in hardware wallet (like trezor, nonoledger etc.) which you are in full control. This way you can make sure even in the unlikely event of a server hack, 99% of your assets are detached from the server where you have installed Inout Blockchain FiatExchanger or Coinbase servers.
Please note that you can optionally choose to keep 100% crypto resources in the hardware wallet for BEST security! Anyway, note that in such context, since there are no crypto assets stored online, user withdrawals need to be processed manually. But this can be done once a day etc on a scheduled basis manually, if you want to. This makes sure 100% of your crypto assets are detached from the exchanges thus giving you very high security.
Please note that you can optionally choose to keep 100% crypto resources in the hardware wallet for BEST security! Anyway, note that in such context, since there are no crypto assets stored online, user withdrawals need to be processed manually. But this can be done once a day etc on a scheduled basis manually, if you want to. This makes sure 100% of your crypto assets are detached from the exchanges thus giving you very high security.
7
I’m still worried about the security! Can you let me know what other security measures you have taken?
Of course! Security is our NUMBER ONE priority too. Because without adequate security, you cannot run an exchange. We have carefully designed our exchange scripts to get higher security following best industry practices. Let us try to explain to you some.
The default version of the script comes with the following security measures.
Google recaptcha for all members/admin logins (Google Recaptcha V2 - I’m not robot style).
Two factor authentication using Google Authenticator - For both admin/member, 2FA can be enabled (using google authenticator). If this feature is enabled by the user, the time based 2FA to be entered from Google authenticator installed on their phone to allow them to log in. Google authenticator is one of the most trusted 2FA authentication software.
IP address based restrictions - Users can black list/white list IP Addresses, when a user is accessing from a new IP he’ll be blocked by default, unless he approves the IP addresses using the approval link sent to his/her email. This makes sure that even if the password is known to a hacker somehow he can’t access the user account without getting access to the user email too.
Automated and easy movement of excess cryptocurrency assets to the external/hardware wallet of your control.
HTTPS ready (pretty standard, however, we just mentioned it.)
Member KYC Verification to make sure no user can submit a withdrawal request without verifying their identity.
Please note that security is ultimately your responsibility. We are providing you a lot of tools which you can use to enhance the security close to a perfection level if those features are used wisely.
8
What do you mean by member verification?
Member verification is standard KYC verification procedures followed in various exchanges. Each member may need to upload their address/identify proof which you can verify manually before allowing them to withdraw from the exchange.
9
I would like to add my own ERC token. How can I do that?
The short answer to this question, you need to get a license of our ERC20 token add on (specifically the Ethereum and ERC20 Tokens Manager (FX Edition) Add-on)
The default version of the script supports only those cryptocurrencies coinbase supports, as the default version is using coinbase as the wallet to store crypto assets. Anyway, we have developed an ERC20 token add-on (the Ethereum and ERC20 Tokens Manager (FX Edition) Add-on), which is capable of communicating with the ethereum network live. Using this add-on you can add any ERC20 token to the exchange (including your own ERC20 token if you have any).
10
Who do you recommend to get an ERC20 token addon license?
In fact , we recommend most of our clients to get a license of the Ethereum and ERC20 Tokens Manager (FX Edition) Add-on if they want to add much more cryptocurrencies than the default version of the script supports. There are so many ( around 50 to 150) very popular ERC20 tokens major exchanges like bittrex list in their exchanges. By just getting this add-on, you can instantly start supporting 100+ most popular ERC20 tokens to trade from your exchange. This add-on can add tremendous business value to your exchange.
11
Can my users buy / sell cryptocurrencies?
We have a buy/sell add on (specifically the Spot Buy/Sell (FX Edition) Add on) which allows your end users to easily buy/sell cryptocurrencies from your service even without participating in the exchange trading. You have the option to dictate the buy/sell price, or configure the pricing to float around (with a configurable profit margin percentage) the market price of the cryptocurrency in your exchange (similar to how popular services like coinbase.com works)
12
Are you the BEST FIAT-CRYPTO exchange script out there?
We honestly believe we are the best “fiat-currency - cryptocurrency” exchange script. We have seen some of our clients are slightly misguided by some other exchange scripts who take trading data from other exchanges and just act as a trading interface for third party exchanges using API keys. Those are not full exchange systems, and we don’t think those can provide considerable value towards starting an independent exchange service. We are an independent standalone exchange system, which works like other popular exchanges like bittrex/poloniex/binance. While there are some other professional exchange scripts that exist similar to ours, we truly believe, we are BY FAR the best, in all aspects including (but not limited to) the features, security and R&D we have put into this!
We have scheduled updates planned for the script and expect to come up with more features/add ons in the near future.
We have scheduled updates planned for the script and expect to come up with more features/add ons in the near future.
13
I would like to add CRYPTO-CRYPTO (like BTC-ETH, ETH-ETC) trading pairs too, is that possible?
Yes, if you buy the license of crypto-crypto trading addon (specifically the Crypto - Crypto Trading Feature (FX Edition) Addon). If your exchange can support both both crypto-crypto and fiat-crypto trading, we consider this is the most comprehensive form of crypto trading business.
Please note that if you need ONLY crypto-crypto trading features, Inout Blockchain AltExchanger is the script you may want to look at.
Inout Blockchain FiatExchanger => Fiat - Crypto Pairs ONLY
Inout Blockchain AltExchanger => Crypto - Crypto Pairs ONLY
If you want BOTH kind of paris (fiat-crypto and crypto-crypto) => Inout Blockchain FiatExchanger with Crypto - Crypto Trading Feature (FX Edition) Addon
Please note that if you need ONLY crypto-crypto trading features, Inout Blockchain AltExchanger is the script you may want to look at.
Inout Blockchain FiatExchanger => Fiat - Crypto Pairs ONLY
Inout Blockchain AltExchanger => Crypto - Crypto Pairs ONLY
If you want BOTH kind of paris (fiat-crypto and crypto-crypto) => Inout Blockchain FiatExchanger with Crypto - Crypto Trading Feature (FX Edition) Addon
14
How would I earn money from running a service based on the script?
The number one source of your income from running an exchange is fees/charges and trade commissions. For example, you can charge your users 0.25% (or whatever value you like/prefer) of their trade as your fees. You can charge fees for credit card deposit(s), bank deposit(s) and/or for all kinds of withdrawals. You can have total control on these fees related factors, which make sure you can change it anytime, add/remove fees as you prefer. All the charges/fees can be managed from the admin area of the script
15
How much time does it usually take for you to install the exchange script?
After your payment, you can download the script immediately from your member area and if you want to, and you can install it yourself just by following the readme file. The procedures are straightforward and many of our clients prefer/choose to install the script themselves. It is pretty easy.
Anyway, If you would like us to install the script for you, we usually take up to 2-3 working days (often we’ll finish the installation within the first working day) after you provide us your server access details to install the script. You can email your server access details (WHM/Cpanel or Linux root access) to [email protected] so that we can take it from there.
So if you want us to install the script for you, the first step is to make the payment for the script license, once the payment is done, you can send your server access details to your email. Also, let us know the domain name where you want to install the script along with any other suggestions/instructions.
Note that after the installation of the script you may need to configure API details (and chart license (free) ) etc. You can follow the admin area instructions to configure the API parameters yourself or seek help from our support person to help you configure the API keys/parameters etc.
Anyway, If you would like us to install the script for you, we usually take up to 2-3 working days (often we’ll finish the installation within the first working day) after you provide us your server access details to install the script. You can email your server access details (WHM/Cpanel or Linux root access) to [email protected] so that we can take it from there.
So if you want us to install the script for you, the first step is to make the payment for the script license, once the payment is done, you can send your server access details to your email. Also, let us know the domain name where you want to install the script along with any other suggestions/instructions.
Note that after the installation of the script you may need to configure API details (and chart license (free) ) etc. You can follow the admin area instructions to configure the API parameters yourself or seek help from our support person to help you configure the API keys/parameters etc.
16
I’ve a special requirement which I would like to implement in the exchange script? Can you customize the script to fit in my requirement?
Let's discuss your requirements. We are usually very positive about custom works so long as it can fit in within our schedules. You may send your requirements to [email protected] OR connect us via Skype to our account ‘inoutscripts’. Our support team will collect your requirements and connect to you a technical person as and when required for details. We’ll then send you a rough quote, if you like the pricing, then we’ll send you a detailed workflow for your final approval and to make sure we both are on the same page regarding the requirements. This workflow will act as a document of our technical understanding about the customisation. We usually accept the customization fee in 2 instalments. 50% upfront, 50% at the time of delivery. Larger customizations (10,000 USD+), can be done in 3 instalments (35% + 35% + 30%)
17
I would like to support another cryptocurrency which is not already supported by your default version of script nor is it supported by the ERC20 addon. What are my options to support these extra tokens? How can I integrate these cryptocurrencies?
You have two options.
1. Option 1: Get it customised to integrate the cryptocurrency along with its daemon (daemon means the cryptocurrency node package installed on the server). Please note that each daemon has to be integrated separately and the customisation charges will be applicable. Typically it will cost around 500 - 700 USD per cryptocurrency.
2. Option 2: Buy the license of manual interfacer add-on (specifically the Any Crypto Manual Interfacer (FX Edition) Add-on). The manual interface add-on is really powerful and can in fact support any cryptocurrency. Anyway, it requires you to manually track and notify coin deposits and manually process withdrawals. Anyways the good news is that you can instantly support any number of cryptocurrencies if you are committed to spend a bit of time daily to process/indicate the transactions manually.
1. Option 1: Get it customised to integrate the cryptocurrency along with its daemon (daemon means the cryptocurrency node package installed on the server). Please note that each daemon has to be integrated separately and the customisation charges will be applicable. Typically it will cost around 500 - 700 USD per cryptocurrency.
2. Option 2: Buy the license of manual interfacer add-on (specifically the Any Crypto Manual Interfacer (FX Edition) Add-on). The manual interface add-on is really powerful and can in fact support any cryptocurrency. Anyway, it requires you to manually track and notify coin deposits and manually process withdrawals. Anyways the good news is that you can instantly support any number of cryptocurrencies if you are committed to spend a bit of time daily to process/indicate the transactions manually.
18
Why a tradingview chart? Is there any other chart system?
TradingView is widely regarded as one of the best charting software for stock and crypto markets. So accordingly we allow clients to integrate with tradingview charts if they prefer to. TradingView chart is FREE to integrate, so we encourage everyone to integrate tradingview chart, after getting an approval from them. Integration of charts is as simple as uploading a few files provided by tradingview.com into a specific folder (we’ll help you to upload it if you need our help).
The script also comes with another simple chart by default. So in case you don’t want to use the advanced tradingview chart, you can use the chart that comes with the default version of the script. You can turn on/off these charts or switch between these charts anytime. You have settings in the admin area to control that
The script also comes with another simple chart by default. So in case you don’t want to use the advanced tradingview chart, you can use the chart that comes with the default version of the script. You can turn on/off these charts or switch between these charts anytime. You have settings in the admin area to control that
19
How can I get further support after I purchase the script?
You can send us your support request over live chat, posting a ticket or by sending a mail to [email protected].
Additionally, we encourage our customers to connect us to our Skype account (Skype account name: inoutscripts) specially if you want to do customisation works. We usually create a Skype discussion group connecting the developers too, so that throughout the customisation development process you can connect to the developer and communicate with each other for feedback, demos etc.
Additionally, we encourage our customers to connect us to our Skype account (Skype account name: inoutscripts) specially if you want to do customisation works. We usually create a Skype discussion group connecting the developers too, so that throughout the customisation development process you can connect to the developer and communicate with each other for feedback, demos etc.
20
Is there any yearly license fee?
No, there is no yearly license fee for Inout Blockchain FiatExchnager or any of its add-ons.
Anyways, if you would like to extend your yearly support after the first year, or if you would like to download the then latest version of the script, you may, at your option choose to extend your support for a year paying us the applicable support extension fees. This is just an option and not mandatory. In fact, many of our clients choose not to extend the support at the end of the first year as they can handle all parts of the scripts pretty well, within a month after they buy the license. If you choose to extend your support anytime in the future, the applicable extended support period shall be one year from the date of payment for the support extension.
Anyways, if you would like to extend your yearly support after the first year, or if you would like to download the then latest version of the script, you may, at your option choose to extend your support for a year paying us the applicable support extension fees. This is just an option and not mandatory. In fact, many of our clients choose not to extend the support at the end of the first year as they can handle all parts of the scripts pretty well, within a month after they buy the license. If you choose to extend your support anytime in the future, the applicable extended support period shall be one year from the date of payment for the support extension.
21
Will I be eligible for updates after I buy the license?
Yes, you may download all the minor updates (free of cost) within the first one year from the data of purchase of license of the script, so long as there is no increase in the license fee. If there is any increment in the license fee for the future version, you can just pay the difference amount (of the license fee) and upgrade to the new version of the script, within the first one year. After the first year, you may just need to extend your support period, if and when required, which will make you also eligible for you to upgrade to the license of the script to the then latest version.
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