Cryptocurrency Payments

Subscord features a fully on-chain cryptocurrency payment system, designed to support complete on-chain transactions without the need for traditional third-party payment processors or KYC (Know Your Customer) procedures for this payment method.

How it Works

Subscord operates a pool of dedicated wallets that actively monitor the blockchain for incoming payments made by your customers. When a payment is detected and confirmed on-chain:

1. The system verifies the transaction details (amount, token).
2. The received cryptocurrency is then automatically forwarded from Subscord's intermediary pool wallet directly to the receiving wallet address you specified during setup.

This streamlined process means you receive funds directly, minimizing overhead and maintaining a high degree of privacy.

Payment Thresholds

Due to the nature of cryptocurrency price volatility and network fees, Subscord allows you to configure payment thresholds. This feature defines a margin of error for incoming crypto payments, determining when a payment is considered "fully paid" even if it's slightly off the exact product price.

You can configure these thresholds in your store's crypto payment settings:

• Percentage Threshold: Set a percentage value (e.g., 1%, 5%). If an incoming payment is within this percentage of the product price, it will be marked as paid. For example, with a 5% threshold on a $100 product, payments between $95 and $105 (or more) would be considered paid.
  • Default: The default percentage threshold is 1%.
• Absolute Threshold (USD): Set a fixed USD amount (e.g., $2, $10). If an incoming payment is within this absolute USD value of the product price, it will be marked as paid. For instance, with a $10 absolute threshold on a $100 product, payments between $90 and $110 (or more) would be considered paid.

Combining Thresholds

You can set both a percentage and an absolute threshold simultaneously. Subscord will consider a payment complete if it meets either threshold. This provides flexibility in handling minor discrepancies.

Example

If you set a 1% percentage threshold AND a $2 absolute threshold for a $50 product:

• The 1% threshold would mean payments from $49.50 are accepted.
• The $2 absolute threshold would mean payments from $48.00 are accepted. In this scenario, any payment of $48.00 or more would be marked as paid because it meets the absolute threshold, which is more permissive in this case.

Carefully consider these settings to balance payment flexibility with ensuring you receive appropriate value for your products.

Configuration Steps

1. Navigate to the Settings page in your Subscord dashboard.
2. Locate the cryptocurrency payment setup section.
3. For each token you wish to accept, select the token and its respective blockchain network (e.g., USDT on Solana, ETH on Ethereum Mainnet).
4. Paste your valid receiving wallet address for that specific token and network.
   • Important: Subscord detects incoming payments to a pool of wallets and then forwards the funds to the receiving address you provide. You must set up a receiving wallet address for each token you enable.
   • You can reuse the same wallet address if it's valid across different networks or for different tokens (e.g., a single Solana address can receive SOL, USDT on Solana, and USDC on Solana. Similarly, an EVM-compatible address can be used for Ethereum, BSC, Polygon, etc.).
   • Critical: Double-check that the address you paste is correct and that you own and control it. Subscord is not responsible for funds sent to incorrect or inaccessible addresses.
5. Save your settings for each token.

Minimum Payment Amounts by Chain

Payments cannot be created below the minimum USD-equivalent for each supported chain. The minimum is evaluated in USD terms at the time the invoice is created.

Why these limits exist

• Network fees (gas) introduce a practical floor for small payments. Below these minimums, fees can represent a large portion of the payment or even exceed it.
• To ensure a reliable experience and avoid underpaid or stuck transactions, invoices below the chain minimum are not created. Consider using another supported chain.
• These limits can change frequently as network conditions and fee markets evolve.

Supported Cryptocurrencies

Here is the full list of cryptocurrencies supported by Subscord.