Set up your Nexus instance
Before coding your own application using the Nexus API, you should manage some settings within the Nexus admin platform. Follow the steps below for a quick setup!
Crypto-currencies and internal pricing
Once you have added the desired users (optional), it is time to configure the settings for the crypto currencies you will support and therefore offer to your customers. Follow these steps:
- In the main menu, click on Settings
- Select the Crypto option (see screenshot below).
- By clicking the Edit button in the crypto-currency card, you will access the settings that will affect the usage and the transactions of that particular crypto, such as the internal pricing strategy and hot wallets fees.
For some more in-depth information regarding these settings, please head to the Crypto-currency section in the knowledge base.
NOTE
For security reasons, only one of our Nexus admins will be able to add new crypto-currencies and hot wallets for you. However, the configuration of their settings is totally up to you.
Payment methods
Nexus allows to set multiple payment methods for each currency (fiat and crypto) and by type of transaction (sell, buy or gift). For each one you can manage preferences such as service fee percentages and delayed dispatch of the crypto. If needed, you can even set specific fees per country and individual customers.
On top of these general settings, you can find more advanced options to control for example the PSP IDs and secrets and set specific URLs to handle callbacks.
NOTE
New payment methods can currently be added only by a Nexus admin, but you can change all the properties of the existing ones.
Tradebot
The Nexus Tradebot is a service that can be used to automatically manage hot wallet and exchange reserves. Depending on the business model you decide to implement, the use of the Tradebot offers several perks. For instance, considering the Broker model, it allows to avoid the tedious task of manually transferring crypto-currencies between exchange and hot wallet reserves, which is needed to make sure that the balance is sufficient to fulfill your customers' need to purchase crypto-currencies. Concerning the Custodian model, the Tradebot allows to automatically manage the desired amount that should be kept for operational purposes (either on the exchange or the hot wallet reserves), while making sure that the amount you promised to hold for your customers matches the amount of crypto-currency you have in your reserves by setting a target reserve goal.
Please check either the Broker or Custodian pages to get more pertinent information based on the business model you are trying to implement.
NOTE
You can develop your own logic and trading bots thanks to the Nexus API.