Posfra provides a suite of tools for handling Bitcoin at scale. Posfra is not a trading or investment platform. The two main tools are profiles and checkouts.

• Profiles are social media style landing pages where fans can make donations to creators with Bitcoin.
• Checkouts are embedded JavaScript website plugins that allow any website to accept Bitcoin payments.

The platform only handles Bitcoin. All USD values displayed on profiles, checkouts and the web app are estimates. The Bitcoin values are the true values being transacted.

Transactions

A transaction represents a fan paying a creator. A transaction’s lifecycle is as follows:

• Pending: The user has initiated the transaction and has been presented with the QR code, but no funds have been confirmed. The platform continuously monitors the blockchain for payments to the address shown to the user. When a payment is found, it will be set as the TxID property.
• Confirmed: The transaction has been confirmed at least 6 times. The value displayed in the app will be applied to your confirmed balance. If a balance was confirmed at the address, but it was less than the amount required to complete the transaction after 6 hours, the transasction will be set to Confirmed. These funds will be credited to your confirmed balance, but the user will not be able to proceed in the checkout process.
• Paidout: The value of this transaction has been withdrawn (see Payouts below).

Payouts

A payout represents a withdrawal of your confirmed balance. Each payout will withdraw the entire confirmed balance.

To create a payout, you must provide an address—this is the address your payout will be sent to. When making a manual payout, a notification email will be sent to the account owner and the transaction will be held for 1 hour for security.

When a payout has been set to pending, the system is preparing the transaction. Typically, a payout will be broken down into 2 or 3 separate Bitcoin transactions. When the payout status is complete, all transactions have been successfully broadcast to the Bitcoin network.