# Omotix Accepting crypto payments without a middleman. Omotix is a peer 2 peer payment processor for Bitcoin, Ethereum, stable coins and other cryptocurrencies. Otomix is currently available as a plugin on WooCommerce and can be easily managed through a hosted dashboard solution at omotix.com ### Guides: Jump right in Follow the guides to get started on the basics as quickly as possible: {% content-ref url="/pages/Opv3Ia1uLRa4rfLSp2HX" %} [How to install the Omotix wordpress plugin](/guides/how-to-install-the-omotix-wordpress-plugin) {% endcontent-ref %} {% content-ref url="/pages/4M66UZC5ndvaSMdHu8RM" %} [Setup deposit addresses](/dashboard/tokens/setup-deposit-addresses) {% endcontent-ref %} # How to install the Omotix wordpress plugin To install the plugin: 1. Download the plugin zip 2. Go to WordPress -> plugins -> Add new 3. Upload the entire zip 4. Activate the plugin after uploading After activating head over to Woocommerce -> Settings -> Payments -> Omotix **Enable/Disable:** Enable or disable the payment method. **Test mode:** If you are testing the plugin on a development server without ssl, enable the test mode, to be able to test the plugin. Disable the test mode, to put it on live. **API Key**: You need to fill in your API key. This can be found in your Omotix dashboard under settings.
# Tokens How to add crypto coins to your checkout page. On the **active** tokens page you can manage: * the crypto coins that are available to your customers * the deposit address the coins will be sent to * the markup you would like to add to the specific coin ![Active tokens ](https://39577195-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2Dpx91ulfiGPVIaMEig1%2Fuploads%2Fu1AtApZAO2EIuHIZcuL4%2Fnew%20token%20omotix.png?alt=media\&token=713bc7a9-5b5c-4742-ba69-669609e934f9) ## How to add a coin To add a coin, click the "new token" button in the top right. A new page will open. ![Add a new coin](https://39577195-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2Dpx91ulfiGPVIaMEig1%2Fuploads%2FIuuZuuBMUqhUQMfheKtv%2Fadd%20a%20token%20omotix.png?alt=media\&token=a66b7e9d-99d7-4245-bccb-7832fa2f7595) ### Token This is a dropdown menu where you can select the available coins. We have made a selection of the most used coins. If your desired coin is not there, you may request a coin through our support. ### **Deposit address** Here you can fill in your deposit address where the crypto's will be sent to. We recommend reading our page about deposit addresses for best practises before you add your first coins. {% hint style="danger" %} **Good to know:** Make sure that you add deposit addresses for the correct network and that you are able to access those funds. If your customer sends funds to an address on a network that you cannot access, those funds are lost for good. Read the [Deposit addresses](/dashboard/tokens/setup-deposit-addresses) page for best practises. {% endhint %} ### XPUB index If you're using an XPUB address, this field will display the current derivation path index. Normally, you won't have to make any changes. You can alter this number if you want to start from a different index. Note: this field will only be visible after you have added a coin ### Deposit address label (optional) Here you need to fill in the name of the exchange you use for your main deposit address. You only have to fill this out if you are using an exchange as a deposit address. Omotix will use this name to show to the customer. If your customer uses the same exchange as your main deposit address, we will provide them with the alternative address instead. Read more about [why you should setup an alternative address.](/dashboard/tokens/setup-alternative-address) ### Alternative deposit address (optional) Here you fill in the alternative deposit address. Omotix will only show this to the customer if they are using the same exchange as your main address. ### Alternative XPUB index If you're using an alternative XPUB address, this field will display the current derivation path index. Normally, you won't have to make any changes. You can alter this number if you want to start from a different index. Note: this field will only be visible after you have added a coin ### Markup Here you can choose whether you would like to markup your prices. Omotix uses [Coingecko ](https://www.coingecko.com/en)for the most current exchange rate. For example, If you would like to add 1% on top of the current cryptocurrency price, you can set the markup to **1.01**. Omotix will generate an invoice with a finale price of `CryptoCurrency * 1.01`. If you would like to discount your crypto prices, you can set the markup to **0.98**, to give your customers a discount of 2%. The markup field can have a maximum of three decimals. # Supported crypto currencies ## Supported coins By default, Omotix has the following coins and tokens implemented. If the token you're looking for isn't on this list but is active on one of the chains we support, please contact us so we can manually add it for you. {% hint style="info" %} **Good to know:** We can add ERC20 & BEP20 coins if they are not in the list below. Please contact us to ask for a listing of your token. {% endhint %} | Coin | Confirmations | Chain | | ------------ | ------------- | ------------- | | Bitcoin | 6 | Main chain | | Binance coin | 20 | BEP20 | | BUSD | 20 | BEP20 | | DAI | 20 | ERC20 | | Ethereum | 20 | ERC20 | | Litecoin | 10 | Main chain | | USDC | 20 | ERC20 / BEP20 | | USDT | 20 | ERC20 / BEP20 | ## Best practises for crypto coins ### Bitcoin Omotix can manage both traditional (deterministic) and HD bitcoin wallets (Hierarchical Deterministic). We strongly advise using HD wallets over traditional wallets for security and ease of use. Recommended HD wallets are Wasabi Wallet, Exodus, Trezor, Ledger and Electrum. To maximize your security we recommend using an XPUB/ZPUB key as a deposit address. With an XPUB/ZPUB key we can easily generate new deposit addresses, every time a new invoice is created. This is more secure and easier to keep track of, because every invoice will have it's own bitcoin deposit address. Most HD wallets, such as Exodus, Wasabi, Electrum, Trezor and Ledger can generate an XPUB key for you. Please go to their online tutorials for instructions on how to locate the XPUB key. The deposit address field can except both XPUB and normal bitcoin addresses. Read[ how to setup deposit addresses](/dashboard/tokens#how-to-add-a-coin). If you want to deposit bitcoins on an exchange, you won't be able to use an XPUB key. In that scenario, you'll have to use the default bitcoin deposit address provided to you. {% hint style="info" %} **Good to know:** Omotix strongly recommends the use of an XPUB key over a normal bitcoin address. It's more secure, and will make transaction monitoring a lot saver and easier. {% endhint %} # Setup deposit addresses In Omotix you can set your own deposit addresses. Omotix can handle most wallet addresses, but it's important to understand there are differences in how they are being handled. {% hint style="warning" %} **Good to know:** If you are using a deposit address from an exchange such as Binance or Kraken, it is highly recommend to setup alternative deposit addresses. Read more about [setting up alternative addresses.](/dashboard/tokens/setup-alternative-address) {% endhint %} ## Best practises Before you begin setting up your deposit address, it's a good idea to think about the two sorts of deposit addresses possible. Below you will find the pros and cons of using private wallets and exchange wallets. Make sure to check out the [best practices for individual crypto coins](/dashboard/tokens/supported-crypto-currencies#best-practises-for-crypto-coins) as well. ### Using a private (hardware) wallet. If you setup a deposit addresses from a wallet that you own, like Metamask, Exodus, Mycelium or hardware wallets like Trezor and Ledger you have pros and cons when using Omotix. **PROS** * It's much more secure (especially if you use a hardware wallet). Because you have control over the private keys. * In almost any case you will be able to retrieve funds that were sent to the wrong blockchain. For example, when your customer by accident sent his funds to the Binance smart chain instead of the Ethereum chain. * You do not have to worry about setting up [alternative addresses](/dashboard/tokens/setup-alternative-address) to serve all your customers. * You can use decentralized exchanges to convert your funds to a currency of choice **CONS** * If you want to use a central exchange such as Binance and Kraken, you have to pay extra network costs to sent the funds to the exchange. * You have an increased volatility risk, because you will receive the crypto of choice. * If you lose access to your wallet / private keys, your funds will be lost forever. ### Using an exchange If you setup a deposit address with an exchange such as Binance, Kraken, FTX, and BitFinex there are also benefits and drawbacks. **PROS** * You can immediately convert received funds to a currency of your choice, such as stablecoins or fiat, to reduce volatility risk. * Your funds are "protected" by the exchange. You do not have to worry about safeguarding your private keys. * There are no extra costs for sending funds to the exchange, because your customer directly deposits the funds to your exchange account. **CONS** * You will have to use [alternative deposit addresses](/dashboard/tokens/setup-alternative-address) to be able to serve all customers. * If money is sent to the incorrect blockchain. For example, if your customer sends payments to an Ethereum address via the Binance chain, you are totally reliant on the exchange to collect those assets. * Your private keys are not in your control. You will lose your money if an exchange goes bankrupt or is hacked. # Setup alternative address We always recommend to setup an alternative address. This will decrease the changes of a duplicate transaction enormously. If you are setting up a deposit address that is hosted on exchange such as Binance or Kraken, it's necessary to setup an alternative address, due to possible internal transactions. An internal transaction is one that takes place on the same exchange, such as Binance. For example, an internal transaction occurs when a Binance customer withdraws assets and sends them straight to your Binance account. Because this transaction remains within the exchange, it is not broadcast to the blockchain. This is a concern for Omotix, as it will be unable to track the transaction. You will receive your customer's funds on your exchange address, but Omotix will not be able to inform the consumer that their funds have been received. This will leave the client unsure whether or not the purchase was completed successfully. On some exchanges, internal trades are not permitted, such as Kraken. As a result, if your customer tries to send money from his Kraken account to your Kraken deposit address, Kraken will reject the payment. Again, leaving your customer in the dark about what went wrong. The solution to this problem is setting up an alternative deposit address. Omotix will be able to provide a separate deposit address by asking the customer during the checkout if they will use the same exchange as your main deposit address. Omotix will be able to keep track of all transactions this way. {% hint style="info" %} **Good to know:** We always recommend to setup an alternative addresses, also if you do not use an exchange address. This will decrease the chances of a duplicate transaction. {% endhint %} ## How to setup an alternative address When you create or change a token on the active tokens page, you'll have the ability to add an alternative deposit address. ![setup an alternative deposit address](https://39577195-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2Dpx91ulfiGPVIaMEig1%2Fuploads%2Fw1ltWTZHwjr8xwgYfOZj%2FSetup%20alternative%20deposit%20address%20omotix.png?alt=media\&token=885bdc22-526c-4cfb-bb39-68e94fd18558) ### Deposit address label Here you can fill the name of the exchange you use for your primary deposit address. If an alternative address has been filled, Omotix will use this name to inform the consumer. If your customer uses the same exchange as your primary deposit address, we will provide them an alternative address. Below is an example of how this looks on an invoice. ![](https://39577195-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2Dpx91ulfiGPVIaMEig1%2Fuploads%2FsWleqkwbpmT6XZAhDTXq%2FAddress%20label%20Omotix.png?alt=media\&token=a3f4be8f-01b6-4583-9045-94371e2734ec) {% hint style="info" %} **Good to know:** This content will only be displayed if you are using an alternative address. This text will not appear if no alternative address is provided. {% endhint %} ### Alternative deposit address Here you fill in the alternative deposit address. Omotix will only show this to the customer if they are using the same exchange as your main address. Below is an example of how this will appear to your consumer. {% hint style="info" %} **Best practise:** Create an account at 2 different exchanges. You can use your primary exchange for the deposit address, and use your secondary exchange for the alternative address. {% endhint %} ![How an alternative address appears to your customer](https://39577195-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2Dpx91ulfiGPVIaMEig1%2Fuploads%2FpsyvDaNABOe4Dp3rBzuq%2Falternative%20address%20Omotix.png?alt=media\&token=06886735-1f0b-4d03-a9c5-d6451f460dec) # Transactions All information about your crypto currency transactions can be found on the transactions page. On this page, we'll go over each column's meaning in detail. ![](https://39577195-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2Dpx91ulfiGPVIaMEig1%2Fuploads%2F5cbDC0b1RRr0gTReQ3Dt%2Ftransactions%20omotix.png?alt=media\&token=084a75f4-2cb7-4a7f-a8f6-f4709ce8b1f4) ### ID The WooComerce ID of the order. ### Date The time when the transaction was created. ### Status The status of the payment. The payment can have the following status: #### **Pending** The invoice has been created, and Omotix is awaiting payment. #### Confirming The payment has been received, but not yet fully confirmed. For security reasons Omotix only sets payments to complete once they have a certain amount of confirmations. You can find the specific amount of confirmations per crypto coin [here](/dashboard/tokens/supported-crypto-currencies#supported-coins). #### Complete The payment was received with enough confirmations. The payment has been finished, and WooCommerce has marked it as "Processing." **Duplicate** Omotix was unable to match the transaction automatically, because there are 2 or more orders that could potentially be matched. Please check with your customers, to find out to which order this transaction belongs. {% hint style="info" %} **Good to know:** If you are experiencing a lot of duplicate transactions, consider adding an [alternative deposit address](/dashboard/tokens/setup-alternative-address#how-to-setup-an-alternative-address). This will significantly decrease the chance this will happen in the future. {% endhint %} #### Expired The payment was either not received or was not received on time. The invoice must be paid within 15 minutes. Omotix will, however, continue to scan the address for 1 hour to check for payments. If a full payment is received within one hour, Omotix will set the status to compete. {% hint style="info" %} **Good to know:** Omotix will scan for a completed payment for 1 hour. This is because some customers will pay directly from exchanges. The majority of exchanges batch payments and only broadcast them a few times per hour. {% endhint %} ### **Customer** The customer name of the order. Retrieved from WooCommerce. ### Base The base currency of the payment. This corresponds with the base currency, set in WooCommerce. ### Crypto This will show the crypto coin the customer has chosen and the conversion rate that was used. Keep in mind that you can change the conversion rate that is used. You can this under the token settings. Read more here. ### Deposit address This is the address that Omotix shows to the customer, and where the funds will arrive. You can change and edit this deposit address under [Active Tokens](/dashboard/tokens).