Welcome, dear Hive community!
The implementation of Hivepay on our website in combination with HIVE has opened up many possibilities in countless directions. What we as a company have noticed as problematic are the price fluctuations of sometimes up to 10% or more within a very short time in cryptocurrencies - so we had to find a solution that provides security for companies in this regard!
So we sat down with a few people in Discord-Voice, described the problem and a short time later, with the help of a capable programmer, we had the first version of our
Graphics by @rivalzzz
ready for initial testing.
This tool solves this "slightly critical problem" quite straightforwardly.
As a company, when selling an item worth several thousand dollars/euros, for example, you simply can't rely on luck that the rates will remain stable, and negative fluctuations in the equivalent value in USD or EURO of up to 10% or more (crypto rates) are simply unacceptable - although surely not only companies see it that way :D.
The functions explained with an example:
In your store an item or service worth 25$/€ is purchased, the customer pays via Hivepay in HIVE and you will shortly receive the paid amount on the account configurated for this purpose.
Our tool scans this account every 5 minutes and checks if the amount X stored in the config is available for a transfer to Binance. If it is satisfied with the amount it finds, it sends your HIVE to your Binance account using the BinanceAPI and SecurityKey that you have also previously entered in your config.
The second job of the tool is to check every 5 minutes if your Binance account contains the amount X, which was also previously defined in the config. If this is the case, it executes a trade from HIVE to BTC and from there in the next move a trade from BTC to USD/EURO. As a result, almost 100% (minimal fees apply!) of the payment is stored in stable euros, which creates quite a bit of security.
But the tool also has a side job :D.
This is to check before the transfer to Binance, whether you have stored a value for a power-up and a account for this in the Config. If yes, the bot will send a percentage of your outgoing transactions (on Binance in this case) to the configured account as Hive-Power for you!
From our point of view, nothing stands in the way of a secure usage of Hivepay and of course we hope that this will be recognized and used by other companies as well!
Companies as well as of course every Hive user can use our tool in the future, because having something like this and not sharing it with everyone would simply be a shame :)!
It can be used and/or rewritten by everyone at will, so you can for example also integrate another API or add functions, if needed! Of course you can do these actions with all trading pairs available on Binance, just edit the config accordingly and for just about 3€ per month (server costs at Hetzner) you have your payment gateway :)!
With this Ref-Link you will get a 20€ balance valid for 2 months, so you can test the tool for this period of time completely free ;)!
Download/Install
HERE you can find the tool on GitHub, a short tutorial can be found in the documentation.
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HERE you can find some interesting videos that give you a more detailed insight into the Hive-Blockchain.