In today’s fast-paced digital economy, businesses dealing with numerous transactions often face inefficiencies and high In today’s fast-paced digital economy, businesses who perform a lot of transactions sometimes discover that traditional payment methods are sluggish and costly. Sending several crypto payments, such as salary, commissions, or prizes, may be difficult. Businesses can save time, money, and make payments safer using NOWPayments’ Mass Crypto Payouts feature. It is a simple, automated payment method. This feature makes it easy to transfer money to a number of individuals at once, whether they are employees, freelancers, affiliates, or gamers.
What Are Mass Crypto Payouts?
With NOWPayments’ Mass Crypto Payouts, you can transfer cryptocurrency payments to a lot of individuals at once with only one API call or one click on the dashboard. This plan makes things a lot easier that would have to be done by hand in individual transactions.
Key Use Cases for Mass Payouts
- Crypto Payroll: You can pay employees all around the world using cryptocurrencies, no matter how many or where they are.
- Commissions and Affiliate Payments: You can easily pay affiliates in crypto, and you can be confident they get their money on time and in the proper quantity.
- Give awards, incentives, and airdrops to those who play games.
- Paying Freelancers: You may pay freelancers and contractors on a regular basis in a variety of cryptocurrencies.
This feature lets you send payments without having to do it by hand. You may submit a CSV file with all the information you need instead, and NOWPayments will take care of the rest. You may either manage payments through your dashboard or utilize our API to conduct everything automatically.
Why Choose Mass Crypto Payouts?
Let us take a closer look at the benefits of mass payouts now that we know what they are. Mass payments are a terrific method to pay for various sorts of work since they may help businesses in numerous ways.
Save Time and Reduce Manual Effort
One of the nicest things about mass payouts is that you can make a lot of bitcoin payments with only one click. If there are not any mass payouts, sending individual crypto payments might take a long time. When companies have to deal with dozens or even hundreds of payments per day, the process takes a long time and is likely to go wrong.
You may use NOWPayments’ automated mass payments feature to:
- You can submit a CSV file containing the names of the persons who will get the money and how much they will get.
- Let the platform handle the payment process for you, taking care of all the dull jobs.
Lower Transaction Costs
Sending money across borders or paying with cash might cost a lot in transaction fees. But with bulk transactions, you may aggregate a lot of little bitcoin payments into one big one, which saves on service fees.
- No service fees: NOWPayments does not charge any service fees for making a lot of payments.
Global Accessibility
With mass payouts, you may transfer crypto payments in more than 350 different currencies. You can send money to individuals all over the world with blockchain transactions since they do not have to be in the same place. Cryptocurrency is wonderful for businesses that send and receive money all over the world since it can be used to pay for things anywhere in the world.
Enhanced Security
Blockchain technology makes sure that every transaction is recorded and can not be modified, which makes mass crypto payments safe. This is not like typical payment methods that have a lot of intermediaries.
- Transparency: Blockchain maintains track of every payment, thus it is easy to monitor and validate crypto payments.
- Irreversibility: Once a crypto transaction is finished, it can not be undone. This makes it considerably less likely that someone will cheat or seek for a chargeback.
Scalability
With NOWPayments’ mass payments technology, you may send out any amount of payments, from 10 to 10,000. The system can work with businesses of all sizes, from little startups to huge organizations that send a lot of bitcoin payments. Businesses may grow without having to worry about setting up intricate payment systems since scalability is so straightforward.
How to Get Started with Mass Payouts
There are a few steps to take when making mass payments, but they are not hard to do. This is a step-by-step instruction on how to use NOWPayments’ bulk payments solution, whether you want to do it using the Dashboard or the API.
Mass Payouts via Dashboard
The Dashboard method is simple to use and works well for users who seek solutions that employ a graphical user interface (GUI). To get started, do this:
1. Create an account: If you do not already have one, sign up for a NOWPayments account.
2. Activate Custody: To do this, go to Dashboard > Custody and switch on Custody. This cuts down on network costs and makes payments safer.
3. Make sure your security is up to date by turning on 2FA and adding your IP address whitelisting and wallet address to a whitelist.
You may manage IP address whitelisting by going to Settings > Payments > IP Addresses.
You may add wallet addresses to your whitelist by navigating to Mass Payouts > Whitelist addresses.
- Deposit Funds: Put the coin you want into your account.
- Prepare your CSV file: Download the CSV template and fill it up with the payment details for the person receiving it, including the type of cryptocurrency, the wallet address, the amount, and so forth.
- Upload the CSV file: Place your CSV file with the payment details in the Mass Payouts section.
- Look at the Payout: To finish the transaction, enter the 2FA code you obtained by email or through an app that verifies your identity.
- Set the withdrawal network fee settings: Either you (the sender) or the person receiving the message can pay the network fees.
You may do this on your dashboard:
Go to Settings > Payments > Payment Details > Withdrawal Fee Paid By
Choose Sender (the fees will come out of your Custody balance) or Receiver (the costs will come out of the payment amount).
9. Send Payments: After you confirm, NOWPayments handles the mass payouts and makes sure that the payments go to the proper persons on their own.
NB. Please be aware that payments will be made in the precise amounts of cryptocurrencies requested, with no conversion. Check to see whether you have enough money in the currency you wish to earn your prize in.
Mass Payouts via API
Businesses may use the Mass Payouts API from NOWPayments to automate payouts and link them to their own systems. Here is how to accomplish it:
- Create an account: Sign up for NOWPayments and enable two-factor authentication (2FA).
- Generate API Key: Go to your dashboard and generate an API key to integrate the service with your system.
- Activate Custody: Enable Custody for fee reductions and secure management of funds.
- Whitelist IP Addresses: Add your business IP addresses to the whitelist for added security.
- Integrate API: Follow the API documentation to integrate the Mass Payouts API into your system.
- Create and Verify Payouts: Use the API’s POST /create/payout method to initiate payouts, and verify them using 2FA with the POST /verify/payout method.
- Monitor Payout Status: Use the GET /payout/:payout_id endpoint to track the payout status (waiting, processing, finished, etc.).
For more details, check out Mass Crypto Payouts guide
Mass Payouts vs. Traditional Methods: Why It’s the Better Choice
Traditional crypto payouts are manual, slow, and inefficient. You must initiate each payment one by one, which consumes time, introduces risk, and complicates tracking.
NOWPayments’ Mass Payouts turns this process into a streamlined, automated operation:
- Send thousands of payments in a single batch with one upload.
- You do not have to pay us any fees to conduct your mass payments.
- You can be sure that every transaction is safe, rapid, and entirely transparent with built-in tracking.
This is a lot cheaper for businesses that handle a lot of transactions, including payroll, creator payments, commissions, or affiliate rewards. It also makes it simple to grow and makes less mistakes.
Common Issues to Avoid
NOWPayments makes it easy to make bulk payments, but you can get the most out of your experience by following these best practices.
- Invalid Wallet Addresses: To make sure the person gets their money, verify the wallet addresses in your CSV file twice. Use the POST /validate/address API endpoint to check.
- Wrong Extra ID: For currencies like XRP or XLM, make sure you write the proper destination tags or memos.
- Limit on Decimals: Remember that crypto transactions may only have a limited number of decimal places (usually 6), so do not type in more than that.
- CSV Formatting: Use the template that NOWPayments offers you to avoid formatting problems that might cause mass payouts to fail.
Why NOWPayments?
There are a number of reasons why NOWPayments is the best choice for bulk payments:
- No charges for connecting
- Automatic flow of payments
- No fees for service
- It works with over 350 digital currencies.
- Help for consumers every day of the week, 24 hours a day
- Availability is high and response times are fast.
Conclusion
NOWPayments’ Mass Crypto Payouts service makes it easy to send money to a number of individuals at once. You do not have to deal with a lot of distinct transactions; instead, you deal with everyone in one automatic batch. You may use the program to automate the whole payment process, whether you are paying employees, giving out affiliate benefits, or making one-time bitcoin payments.
Bulk payouts make it easier for businesses to send money throughout the world, save time, and ensure sure their crypto payments are safe and timely. Would you like to make it easier to pay?
FAQ
What are Mass Crypto Payouts?
Businesses may use NOWPayments’ Mass Crypto Payouts solution to send crypto payments to a lot of individuals at once. This method makes it easy to pay employees, partners, freelancers, or give away prizes without having to send separate payments.
How do Mass Payouts work?
If you want to send bitcoin to a lot of individuals at once, mass payments make it easier. There are two techniques to manage a lot of payments at once:
- Via the Dashboard: You only need to upload a CSV file with the information about your recipients to the Dashboard. The system handles all of the payments on the list by itself.
- Via the API: You may connect straight to your platform with the API and start and manage big payments instantly, without having to deal with files yourself.
In any case, NOWPayments handles everything and makes sure that every payment is protected and sent right away.
Why should I use Mass Crypto Payouts?
There are many benefits to Mass Payouts that make payments easier:
- Automate the full payment procedure so you do not have to handle each payment by hand. This will save you time.
- Better security: Blockchain technology makes every transaction permanent and impossible to change, so payouts can be made safely all over the world.
- Scalability: The platform expands with your needs, so companies can easily manage big payments, whether they are for a lot of individuals or a lot of businesses.
- With automated bulk payouts, you can keep track of payments, see how they are going, and make sure they arrive on time.
- Global payment reach: You can send payments in a lot of different cryptocurrencies to individuals all around the world. This makes it easier to send money all over the world.
Is it secure to use Mass Crypto Payouts?
Yes, NOWPayments protects your payments with a solid security system. Blockchain technology is used by the system to make sure that every transaction is clear and can not be modified. This implies that when a payment is made, there is no way for fraud or chargebacks to happen. IP address whitelisting, two-factor authentication (2FA), and wallet address whitelisting are some of the additional security measures that protect your money and the money of the individuals you transfer it to from being stolen.
What currencies are supported for Mass Payouts?
You may transfer incentives in crypto using your chosen cryptocurrency because NOWPayments supports more than 350 of them. You may send payments in multiple currencies and make sure that the individuals who get them get them in crypto the way you want them to.
How do I track Mass Payouts?
Keeping track of huge payments is simple and transparent. The NOWPayments dashboard or the Mass Payouts API lets you see how each payment is going. You may use the retrieve /payout/:payout_id endpoint to retrieve up-to-the-minute information on the payout’s status, such whether it is pending, processing, sending, finished, or failed.
Can I automate recurring Mass Payouts?
Yes, the NOWPayments API lets you set up regular bulk payouts. You may set up automatic payments for employees, affiliates, freelancers, or anybody else on a regular basis without having to input a new CSV file every time.