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Feature Release: Instant Withdrawals
32 sats \ 5 comments \ @MinatoPay 15 Jan 2023 bitcoin
Just released instant withdrawals for MinatoPay.com

How it Works

  1. merchant makes sale, customer pays lightning invoice, sats go to merchant's custodial wallet
  2. as soon as sats are received, they are sent to merchant's lightning wallet based on LNURL deposits

Why It's Important

non custodial solutions are ideal, but they're difficult to implement, and come with many trade offs at the moment. This feature helps lessen the trust required in a custodian by minimizing the time that a custodian is holding funds.
For anyone that is interested in accepting lightning payments online, feel free to reach out to me for support, happy to help anyone, and will try to recommend the best solution based on your use case (not necessarily MinatoPay).
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100 sats \ 1 reply \ @fanis 17 Jan 2023
Hey! What does "based on LNURL deposits" mean exactly? You send sats to the merchants using a LNURL-Pay link/Lightning Address?
If so, wouldn't it be possible to do some kind of "proxy" thing (like lnproxy.org or geyser.fund), where:
  1. Customer hits "Pay" on checkout page
  2. Minato gets an invoice for the required amount + Minato fees from the merchants self-custodial wallet using LNURL-Pay
  3. Minato crafts an invoice for the required amount and with the same payment hash as the invoice in step 2., and shows it to customer.
  4. When customers pays invoice of step 3., Minato pays the initial invoice of step 2. in order to get the preimage, then can settle the customer-facing invoice (the one created in step 3.) using said preimage.
This way, Minato never takes custody of the funds. Minato can always fall back to the more classic custodial method if the merchants wallet is slow to respond, so that the customer's experience remains fast.
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0 sats \ 0 replies \ @MinatoPay OP 18 Jan 2023
Ah that's a much better way, and preferred all around.
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100 sats \ 1 reply \ @jeff 15 Jan 2023
Typo on your home page:
Unlike other solutions, we don't ask require your ID to use our service. We beleive in censorship resistance, and empowering developers across the world to monetize their services.
s/b
Unlike other solutions, we don't require your ID to use our service. We believe in censorship resistance, and empowering developers across the world to monetize their services.
... and if you really want to get sharp:
We don't require ID to use our service. We value censorship resistance and empowering developers globally to monetize.
The last one says the same thing, but with more signal / less noise.
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0 sats \ 0 replies \ @MinatoPay OP 18 Jan 2023
Thanks for catching that!
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0 sats \ 0 replies \ @cryptocoin 15 Jan 2023
See also another post, found here on SN, where MinatoPay was announced:
ANNOUNCING MINATOPAY.com #72154 https://minatopay.com
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