About Coinsnap

Bitcoin Software for Merchants

Coinsnap provides software and technical infrastructure that enables merchants to accept Bitcoin payments online and at the point of sale.

The core principle of Coinsnap is simple:

Bitcoin payments are made directly by the payer to a wallet controlled by the merchant. Coinsnap provides the software that creates, detects, assigns and documents the payment, but Coinsnap does not take custody of the Bitcoin.

Coinsnap is operated by Onlineshop24 DOO, Serbia.

What Coinsnap Does

Coinsnap provides merchants with software tools for accepting and managing Bitcoin payments.

Depending on the merchant’s setup, Coinsnap can be used through:

• integrations for online shops and e-commerce platforms;
• plugins and modules for websites;
• APIs and webhooks;
• payment links and payment buttons;
• Bitcoin invoices;
• point-of-sale applications;
• merchant dashboards;
• transaction reporting and accounting exports; and
• the Coinsnap self-custodial Bitcoin wallet.

Coinsnap supports Bitcoin payments via the Lightning Network and Bitcoin on-chain.

The purpose of the Coinsnap software is to connect a merchant’s commercial systems with Bitcoin payment functionality while allowing the merchant to remain in control of how and where Bitcoin is received.

How a Standard Coinsnap Payment Works

When a merchant accepts a Bitcoin payment using Coinsnap, the merchant or the merchant’s shop system first creates a payment request.

Coinsnap calculates the corresponding Bitcoin amount, where required, and provides the technical payment information that can be displayed to the payer, for example as a QR code.

The payer then decides whether to make the payment and authorises the transaction using the payer’s own Bitcoin wallet.

The Bitcoin transaction is initiated by the payer.

For a standard self-custodial Coinsnap payment, the Bitcoin is transferred directly from the payer to a wallet controlled by the merchant.

Coinsnap does not receive, hold or take possession of the Bitcoin at any stage of the standard self-custodial payment flow.

Instead, the Coinsnap software detects the payment and provides the merchant with the corresponding technical information, such as the payment status and the association between the payment and the relevant invoice or order.

In simplified form:

Payer’s Bitcoin Wallet → Bitcoin / Lightning Network → Merchant’s Wallet

Coinsnap provides the software layer used to create and monitor the payment request and to connect the payment information with the merchant’s business systems.

The Merchant Remains in Control

Coinsnap is designed around a self-custodial model.

The merchant decides which Bitcoin wallet is used to receive payments.

Depending on the Coinsnap product and configuration, a merchant can use the Coinsnap self-custodial wallet or another supported Bitcoin or Lightning wallet.

Where the Coinsnap self-custodial wallet is used, the private keys are controlled by the user and are not held by Coinsnap as a custodial service.

Coinsnap does not take ownership of merchant funds and does not maintain a custodial Bitcoin balance on behalf of the merchant.

This means that Coinsnap does not need to hold a merchant’s Bitcoin in order to provide its standard payment software.

Coinsnap Is Not Part of the Underlying Sale

Coinsnap provides software to the merchant.

Coinsnap is not the seller of the goods or services purchased by the payer and is not a party to the commercial transaction between the merchant and the merchant’s customer.

The merchant remains responsible for its own products and services, including pricing, invoicing, refunds, taxes, consumer obligations and other requirements applicable to its business.

The merchant also determines whether Bitcoin is offered as a payment method and under which conditions.

Payment Information and Payer Data

A standard self-custodial Bitcoin payment does not require Coinsnap to identify the payer.

Coinsnap primarily processes the technical information required to create, detect, assign and document a Bitcoin payment. This may include information such as:

• an invoice or order identifier;
• the amount and currency;
• Bitcoin or Lightning payment information;
• transaction identifiers or payment hashes;
• timestamps; and
• payment status information.

A merchant may choose to provide Coinsnap with additional information relating to a customer or payer.

Such information can, for example, be used to associate a Bitcoin payment with a particular order, display information in the merchant dashboard, create reports, export information to accounting systems or use another functionality selected by the merchant.

The merchant determines which customer or payer information is collected and provided to Coinsnap and is responsible for ensuring that this is permitted under the laws applicable to the merchant and its customers.

Coinsnap does not store the payer’s IP address as part of the Bitcoin or Lightning payment transaction record.

Further information about how Coinsnap processes personal data is provided in the Coinsnap Privacy Policy.

Reporting and Reconciliation

Accepting Bitcoin is only one part of a merchant’s payment workflow.

Merchants also need to understand which payment belongs to which order and need records for administration, reporting and accounting.

Coinsnap therefore provides software functions that can associate Bitcoin transactions with invoices, orders, stores, points of sale and other merchant information.

Depending on the functionality used, merchants can view transaction histories, generate reports, export transaction information and transfer relevant information to external business systems.

These functions do not change the underlying Bitcoin payment.

The Bitcoin payment remains a transaction between the payer and the wallet destination selected by the merchant.

Optional Third-Party Financial Services

Some merchants may not want to retain the Bitcoin they receive and may instead want to use services such as currency conversion or settlement to a bank account.

Coinsnap does not itself provide banking, fiat settlement, cryptocurrency exchange, brokerage or custodial services.

Where such functionality is made available through Coinsnap, the financial or crypto-asset service is provided by an independent Third-Party Provider.

Coinsnap may provide the technical integration between the merchant and that provider.

The merchant chooses whether to use such an optional service.

The Third-Party Provider determines its own contractual, regulatory and compliance requirements and provides its service under its own terms and privacy policy.

For example, a Third-Party Provider may require information about a payer in order to comply with regulatory requirements applicable to that provider.

Where the merchant chooses such a service, Coinsnap may technically transmit information supplied by the merchant to the selected Third-Party Provider as part of the integration.

Coinsnap does not independently determine the customer due diligence, KYC, AML or other regulatory information requirements imposed by the Third-Party Provider.

Clear Separation of Responsibilities

The Coinsnap model is based on a clear separation between software functionality and financial services.

Coinsnap provides software and technical infrastructure.

For standard self-custodial payments:

The payer controls the sending wallet.

The merchant controls the receiving wallet.

Coinsnap creates and monitors the payment request and provides the merchant with the related business information.

Coinsnap does not act as an intermediary that receives, holds or controls the payer’s Bitcoin.

Where a merchant voluntarily selects a separate regulated service, such as Bitcoin-to-fiat conversion or bank settlement, that service is provided independently by the respective Third-Party Provider.

Designed to Remain Non-Custodial

Coinsnap’s services are designed so that Coinsnap does not need to take custody of merchant or payer funds in order to provide its standard Bitcoin payment functionality.

Coinsnap does not:

• hold Bitcoin on behalf of merchants as a custodial service;
• control merchant private keys;
• receive or take possession of Bitcoin payments intended for merchants;
• exchange Bitcoin into fiat currency itself;
• provide bank accounts or banking services;
• operate a cryptocurrency exchange or brokerage service; or
• provide investment or portfolio management services.

Where functionality requiring an independent financial or regulated service provider is offered, Coinsnap’s role is limited to providing the corresponding software integration.

Coinsnap Wallet

Coinsnap also provides a self-custodial Bitcoin wallet designed for individuals and businesses.

The Coinsnap Wallet can be used to send and receive Bitcoin and can also be used together with Coinsnap’s merchant and point-of-sale functionality.

The wallet is self-custodial. Users remain responsible for their wallet, recovery information and private keys.

The availability of the Coinsnap Wallet does not change Coinsnap’s role in merchant payments: Coinsnap does not become custodian of a merchant’s Bitcoin merely because the merchant chooses to use the Coinsnap Wallet.

Merchants can also use supported external wallet solutions depending on the Coinsnap product and configuration they select.

Built for Merchants

Coinsnap is designed for businesses that want to accept Bitcoin without giving up control of their Bitcoin.

The software can be used by online stores, physical retailers, restaurants, cafés, service providers, event operators, organisations and other merchants.

Coinsnap’s objective is to make accepting Bitcoin as straightforward as possible while preserving the fundamental advantages of Bitcoin:

direct payments, merchant control and self-custody.

Company

Coinsnap is a brand operated by:

Onlineshop24 DOO
Ljubimira Ivkovica Suce 75
11453 Sopot (Ducina)
Serbia

Registration Number / Matični broj: 21579041
Tax ID / PIB: 111945856

For additional information about the contractual, privacy and risk framework applicable to Coinsnap, please refer to:

• Terms of Service
• Privacy Policy
• Cookie Policy
• Non-Custodial & Risk Disclosure
• Data Processing Addendum

Accept Bitcoin with Coinsnap

Coinsnap gives merchants the software they need to accept Bitcoin online or at the point of sale while remaining in control of how and where their Bitcoin is received.

Accept Bitcoin. Direct to your wallet.