How to add your first wallet for accepting payments

This article continues QryptoPay quick start. The module is installed and the merchant is created — now let's go over how to set up where your customers' money will go.

QryptoPay generates the addresses your customers pay to from your wallet — without a wallet, there's nothing to give a customer a payment address from.

Why it's best to start with Ethereum

The free QryptoPay licence includes a payment limit and accepting payments on the Ethereum network, so it makes sense to set up your first wallet in that cryptocurrency — accepting payments will work without buying any licences.

ℹ️ What's actually free

Native ETH is accepted for free. The USDT and USDC stablecoins on Ethereum, as well as Tron, Bitcoin, and Litecoin, are separate licence items: adding an Ethereum wallet on its own won't enable accepting USDT.

For the Ethereum network, QryptoPay works with the wallet's private key, and a private key means full access to the funds. That's why the wallet for accepting payments is a new one, created from scratch — not the one holding your money, and not one whose key you've already handed to someone else.

Money doesn't sit there for long: QryptoPay itself forwards funds collected from customers to your main wallet — the one you'll specify in the Payout wallet field.

⚠️ Warning

The receiving wallet keeps a small reserve for network fees, used to pay for transfers to the payout wallet. If the reserve runs out, customer money stops reaching your main wallet until you top it up.

Creating a wallet in TrustWallet

You can create a wallet in any app or service you trust — below is an example using TrustWallet:

1. Install the app from the official app store.
2. Create a new wallet — don't import an existing one.
3. Write down the secret phrase (12 words) and store it offline — on paper or in a password manager. It's the only way to restore access to the wallet.
4. Don't transfer your own funds to this wallet — it's only meant as an intermediate wallet for accepting payments.

💡 Tip

Menu item names in mobile apps change from version to version. If the labels in your version differ, go by the meaning of the step — "create a new wallet" and "save the secret phrase."

While you're at it, also prepare a second wallet — for payouts: this is the one QryptoPay will forward the money collected from customers to, so it needs to be reliable. Your existing wallet works fine here — for example, a hardware wallet like Ledger, or any other wallet you already use. If you don't have one, create a second wallet in TrustWallet and keep it separate from the one whose key you hand over to the panel. You'll only need its address — the panel doesn't need the payout wallet's private key.

The private key for the panel

The panel doesn't need the key of a single address — it needs the Account Extended Private Key, an account-level key that generates addresses for your customers. TrustWallet doesn't show it directly, so you get it from the secret phrase:

• open https://iancoleman.io/bip39/;
• (strongly recommended) completely disconnect your computer from the internet;
• enter the secret phrase in the BIP39 Mnemonic field;
• in the Coin list, select ETH;
• in the Derivation Path section, switch to the BIP44 tab;
• copy the Account Extended Private Key and store it locally;
• close the tab and restore your internet connection.

⚠️ Warning

You need the long Account Extended Private Key value from the BIP44 block specifically, not the short Private Key from the derived-addresses table at the bottom of the page.

While you're there, also copy the first address (index 0) from the derived-addresses table — you'll need it to verify the key when saving.

For a detailed walkthrough of this step and keys for the other networks, see How to add a wallet in QryptoPay.

Adding the wallet in the panel

Open QryptoPay → Overview → Latest wallets → Add wallet and fill in the fields:

• Name — any convenient name, 2 to 64 characters;
• Blockchain — ETH;
• Private key — the Account Extended Private Key you copied;
• Payout wallet — the address of the reliable wallet you prepared earlier; it must be on the same blockchain;
• Payout threshold — the amount in USD above which collected funds are sent to the payout wallet. A value of 0.00 means the money is sent right away, without waiting to accumulate;
• Fee reserve threshold — the amount in USD to keep on the wallet to cover network fees on withdrawal. For Ethereum, the panel suggests 25 — enough to get you started;
• Notification email — the email address for wallet status emails.

In the Email alerts block, it's worth turning everything on: Low fee reserve, Fee reserve empty, Activation failed, and Unaccounted funds received. That way you'll learn about a problem with accepting payments before a customer tells you about it.

💡 Tip

Before saving, click Verify key and enter the first address of your wallet in the Primary address field. "The key matches this address" confirms the key was copied correctly; a mismatch means you copied the wrong value.

ℹ️ Note

A wallet can only be added for the production terminal. The test terminal doesn't need wallets — payments through it don't require an actual cryptocurrency transfer.

Once saved, the module is ready to accept payments on the selected network. For balances, the fee reserve, disabling, and deleting a wallet, see Manage wallets.

Next step

Now QryptoPay knows where to send funds from your customers and can issue payment addresses. Next, set up the payment page your customers will pay on:

• Setting up the QryptoPay payment page — domain, SSL, and a logo on the payment page.