I am almost done setting up my own BTCPayServer. This will allow me to accept Bitcoin and Litecoin payments without paying any fees. I'll post an update on this page as I progress, but so far, here is what I have found:
- You can set up a Payserver quite quickly using LunaCode.com
- Although the server is up in minutes, it takes 3 - 7 days before your node is fully synched (I dont even know fully synched means... I'll cover that in a few days time)
- It seems like you can store your crypto directly to a Ledger Nano S. I bought the Ledger Nano X and will try to store it on there.
- I am also going to try and store the crypto on an Electrum wallet, mainly because it can generate significantly more deposit addresses than a Ledger Nano:
"For most of my customers, ledger live is useless because they need to generate many addresses for many customers (and be able to see the balances and make withdrawals form the wallet). Developers not wanting to scan a few addresses is not a reason to not implement a critical required feature with a simple and widely adopted solution. Trezor wallet has a discovery gap limit of 20. This means you can quite happily and effortlessly create 20 new addresses, and give each one to a new customer, or use each one for a different invoice etc. Electrum allows the discovery gap to be set in the configuration, so you can set it to be say 100 or 1000. Yes it will take a bit longer to scan those addresses, but this is not an excuse to cripple the system. Trezor takes less than a second to scan the 20 accounts. If you do a transaction on the 20th account, you can generate another 20 and see them all in the wallet.
Configurable discovery gap, which is perhaps a days development work, is absolutely critical feature for small to medium business to allow them to issue multiple invoices to multiple customers in parallel. Any regulated business is also required to segregate customer funds, so it is a requirement in such industries.
I have requested configurable gap limit from Trezor also. The first one to implement it will become our companies standard for small business users."
- My only really grievance with BTCPayServer is that everything works with "invoices". In other words, I need to still make sure it is possible to:
- generate invoices with no amount tied to it (I want people to be able to deposit any amount and just increment their balance)
- keep the addresses that are generated forever (1 per user)
I found out that you don't actually need BTCPayServer to store coins. You can do that with Electrum. BTCPayServer is only useful if you need to generate invoices and send people a pay link. It's great for that, but if you are implementing your own logic, as I am, then you might be able to get away with only using Electrum.
Hmmmmm, so can we use this for our simple payment options on any of our websites?
So for my specific purposes, it isn't useful. But if you want to receive payments like you do with coinpayments.net, but don't want the extra fees, then this is a good option. I have a running version set up that I won't be needing anymore, that you can have if you want? There's 10 USD on the account so the server should be up for the rest of the month. Great opportunity to test it out, but it is very technical. For most people something like coinpayments.net will be a better option.