Channels concept

Unlike invoices, channels are essentially permanent addresses assigned to each of your end-users. Once created, a channel can be reused by the end-user whenever they want to make a deposit.

Avoid assigning a single channel to multiple end-users, as it will prevent you from identifying which user sent the funds. Unlike fiat transactions, cryptocurrency transactions do not carry references over the blockchain. By giving each customer their own unique channel, you can easily match their deposits with their account on your platform.

Merchants can create either crypto-to-crypto or crypto-to-fiat channels. For crypto-to-fiat channels, no exchange rate is fixed for 20 minutes as with other transactions. Instead, the exchange rate is determined at the time the transaction is confirmed on the blockchain. Once confirmed, the cryptocurrency is converted to fiat and credited to the merchant's account on Txn.

A single channel can receive multiple deposits. Txn emits webhook messages for each transaction detected and received at the channel address. These messages contain data such as the channel ID and reference, deposit ID, crypto transaction amount and hash, exchange rate, credited amount, and timestamps.