Tutorials
Frequently Asked Questions
What is IBEX PAY?
The easiest and fastest way for retail and e-commerce businesses to accept instant Bitcoin payments over the Lightning Network.
What is the lightning network?
The Lightning Network is a second-layer protocol on top of the Bitcoin blockchain that allows for faster and cheaper transactions by creating a network of "payment channels" between users. These channels can conduct multiple transactions off-chain, speeding up the overall network and reducing fees.
Who can use IBEX PAY?
Anyone in the world. We are a global solution for farmers’ markets, ranchers, restaurants, hair salons, venues, event and production companies, big chains, e-commerce businesses in Shopify or woo-commerce, and many more.
What are IBEX PAY fees?
For BTC is 0.5% to 0.7% worldwide.FIAT conversion will change depending on the country. Contact us to learn more hello@ibexpay.io
How do I set up my Onchain Address?
Download a wallet like Muun Wallet, create a new wallet and set up your password. Select ‘Receive’. Right underneath the QR code, you will see your BTC Wallet Address. Select ‘Copy’ to copy your Bitcoin address and add it to IBEX PAY. You can use any bitcoin wallet.
When do balances get transferred to my BTC on-chain address?
It takes 24 to 48 hours for IBEX PAY to deposit the BTC into your Bitcoin on-chain address.
Where does IBEXPAY offer fiat conversion?
IBEXPAY can operate FIAT conversion only in Guatemala, El Salvador, Australia, and the US. Coming soon: Canada and Mexico.
Can I delete an Account, a Manager, or a BPT?
Accounts, managers, and BPTs cannot be deleted, but you can revoke access to Managers and thus leave them disabled.
Contact us if this is an emergency, hello@ibexpay.io
Why does a lightning invoice only last 15 minutes?
Due to price fluctuation in Bitcoin, lightning invoices are only locked in for 15 minutes before a new one needs to be created.
Which wallets can my customers use to pay with Bitcoin at an IBEX PAY bitcoin payment terminal?
Cash.app , Wallet of satoshi , Osmo , Tauros, Chivo Wallet, Strike, and many more.
Will the price fluctuate if I receive USD or BTC?
If you keep BTC, price volatility is on you. If you want USD convertibility, we send you the spot price at the point of the transaction minus our fees.
What should I do if something goes wrong with IBEX PAY?
Contact Support at hello@ibexpay.io
I don't find the ‘confirm your email - create your password- email, where should I look?
If you don't see the Verification email, check under "Spam" or "Junk." or contact support at hello@ibexpay.io
Does the IBEX dashboard mark it somehow when it gets transferred? So I can track deposits?
Yes, it is marked as reimbursed on csv file.
Where do I go if I want to promote IBEX PAY and adopt Bitcoin payments to other businesses?
We have an ambassador program that offers you the resources and incentives. Apply filling out this form
What is the highest limit amount that can be processed per transaction on an IBEX PAY terminal?
~$2.5k.
But talk to us about expanding payment channel volume here! hello@ibexpay.io
If I have a client that wants to pay over 10k in Bitcoin, what is the right solution?
Anything over 2.5k should be an on-chain transaction. With IBEXPAY, you can generate on-chain invoices using any IBEXPAY plugin or API implementation such as Shopify, woo-commerce, Miva, and Ecwid. You will need a site built on this platform.
