Generating a Deposit Address: Introduction
How to Generate Deposit Addresses in a Virtual Account
Once an End User Virtual Account is created, it is not yet synchronized with the blockchain. There is no blockchain address connected to it acting as a Deposit Address, but just the XPUB from your Master Exchange Wallet.
Steps
Step_1: Generate a Wallet
- This step should have been done while Setting up your Exchange or Application.
- Example: BTC - v3 REST API endpoint
- Retrieve the XPUB and store the Mnemonic.
Example request:
curl --location --request GET 'https://api.tatum.io/v3/bitcoin/wallet' \
--header 'x-api-key: {YOUR_API_KEY}'
//Response
{
"mnemonic": "method main swing charge hero theory eyebrow myself movie series silent camp proof tortoise electric rabbit good clip process always expect chase adult fee",
"xpub": "tpubDFRtR6DexBRjtJAfGYMaLnNWRwz7h5pNXu8rX4wcYuH6xeXncMcTqPnUVqk8d86DmUHJeWJBxhK6vhFHMQr4eZhHkQvKxXYtgYKPPMjKwer"
}
Step_2: Create a Virtual Account (XPUB-based)
Step_3: Generate a deposit address for a Virtual Account (XPUB-based)
Example request:
- The XPUB will be taken from the Virtual_Account_ID.
- The Deposit Address will be generated by adding +1 to the "index", as seen in the response as "
derivationKey
"
//POST: https://api.tatum.io/v3/offchain/account/{id}/address
curl --location --request POST 'https://api.tatum.io/v3/offchain/account/{Virtual_Account_ID}/address' \
--header 'x-api-key: {testnet_API_KEY}'
// Response
{
"xpub": "tpubDFRtR6DexBRjtJAfGYMaLnNWRwz7h5pNXu8rX4wcYuH6xeXncMcTqPnUVqk8d86DmUHJeWJBxhK6vhFHMQr4eZhHkQvKxXYtgYKPPMjKwer",
"derivationKey": 1, //By default, it starts with index == 1, Index == 0 is reserved to act as a ChangeAddress when transferring out.
"address": "tb1q2m35yvwlvrt4glqmlakepdd2jdanpe6nmc7wek", //This is the address your end user can use to deposit assets from outisde your Exchange or Application
"currency": "BTC"
}
Step_4: The result is a blockchain address that has been connected to the VA
- Any incoming blockchain transaction to this address, which matches with the "
currency
" of the VA will be automatically synchronized to the ledger.
Good to Know
- Be mindful of Tatum Derivation Path.
- Deposits are only recognized as long as the "currency" of the VA matches with the asset deposited
Never share your mnemonic(s) and/or private key(s) with anyone. It is your responsibility to keep this information safe.
Updated 3 months ago