Overview

The tab provides an additional service for depositing cryptocurrency-nominated funds. Cryptocurrency payments can be grouped into batches to hasten the process of fulfillment. The main purpose is to transfer cryptocurrency from one wallet to several other wallets at once. For example, a wallet is used to provide cryptocurrency exchange services; once the currency is sold it must be sent to the recipient’s wallet. Batch payments allow the wallet owner to process multiple transactions and send cryptocurrency transfers to the recipients’ wallets at once.

Each Batch payment is divided into several iterations – the limited amount of transactions that can be processed by the service provider at once. The maximum limit for an iteration is 100, though the user can control the payments more precisely if a smaller amount is set.

For creating batch payments on BitGo, a dedicated crypto wallet is required to be used only for mass payouts to crypto addresses in a particular cryptocurrency.

The mass payout wallet must be configured to have additional approval for all transfers. Never use wallets without additional approval for batch payments due to the high risk of duplicates.

Opening the item

Follow the steps below to see the list of Batch payments:

  1. Navigate to the Admin Panel.

  2. Click Banking on the left sidebar.

  3. Go to the Batch payments menu item to open the payments list.

Follow the steps below to browse Batch payment details:

  1. Navigate to the Admin Panel.

  2. Click Banking on the left sidebar.

  3. Go to the Batch payments menu item.

  4. Click Show in the payment line to open the details.

Component parameters

Provider name – the column demonstrates the providers delivering the transaction execution service;

Status - the column defines a batch payment status:

  • New – the batch payment is created but not started yet;

  • In process – the batch payment is being executed;

  • Complete – the batch payment is successfully transferred;

  • Error Iteration Canceled – an error occurred in the process of iteration parts execution;

  • Canceled – the batch payment is manually canceled;

Mass payout wallet address - the number of a wallet opened in the provider’s platform. The currency is transferred from this wallet;

Currency – the column defines the batch payment currency;

Administrator – the Administrator who has created the batch payment;

Created atdate and time of a batch payment creation;

Started at – date and time when the batch payment was started;

Updated at – date and time when the last changes were applied to the payment details;

Action:

  • Click Show to open the batch payment details without the ability to edit them.

CSV file example – download an example of the supported format.

XLS file example – download an example of the supported format.

Add new – create a new Batch payment. For more information, see How to create a Batch payment.

Configuring the component

Batch payment details

Monitor Batch payment execution in the window.

Details – general batch payment information that corresponds to the one presented in the Batch Payments List. There are a few special parameters present:

  • Number of recipients in one batch (max 100) - the parameter defines the number of recipients per iteration.

  • Recipients summary - the parameter defines the total number of recipients in all iterations.

Top sidebar:

  • CSV file example – download an example of the supported format.

  • XLS file example – download an example of the supported format.

  • Recipients - click the tab to open the list of batch payment recipients.

  • Batch payment requests - click the tab to open the list of iterations.

Recipients

The window provides an overview of all batch payment recipients.

Valid – the parameter defines whether the recipient wallet is active.

Funds received - the column defines whether the payment acceptance is confirmed by external services.

Provider number - the parameter defines the recipient's wallet address.

Amount – the payment amount sent to the wallet address.

Batch payment requests

The window provides the Iterations list.

Status - the parameter defines whether the payment is complete, canceled or being processed.

Part - iteration index number.

Transaction ID - transaction number delivered by an external service provider.

Created at - date and time of a batch payment creation

Updated at - date and time when the last changes were applied to the payment details.

Action:

  • Click Show to open the iteration details without the ability to edit them.

Details – general iteration details that correspond to the ones presented in the Iterations List.

Recipients - the list of iteration recipients with wallet addresses and payment amounts.

Invalid recipients - the list of iteration recipients whose wallets could not be processed.

Logs - navigate to the tab to see the extended details on each iteration. Logs are provided by the service provider.

Useful tips

  • The smaller the Iteration count, the easier it is to cancel a Batch payment execution. For example, if an iteration has the maximum amount of transactions (100) and the user cancels the Batch payment, the system will process all of the transactions in the current iteration part, before canceling the rest of the parts. Therefore, the smaller the iteration part, the fewer transactions will be processed in case of Batch payment cancelation.