Copy page

Typical Sell Flow

Overview

This document describes the standard cryptocurrency sell flow using Institutional Crypto Buy/Sell Solution service. The sequence diagram below illustrates the interaction between partner systems and Institutional Crypto Buy/Sell Solution Open APIs throughout the sell process.

Participants

• User (u): End user selling cryptocurrency
• Merchant (m): Partner's system/application
• Institutional Crypto Buy/Sell Solution (c): Institutional Crypto Buy/Sell Solution service
• Binance Asset SAPI (a): Binance Asset Service API for balance management

Flow Steps

1. Get Crypto List for Sell

• User initiates the sell flow
• Merchant forwards the request to Institutional Crypto Buy/Sell Solution
• Institutional Crypto Buy/Sell Solution returns the list of supported cryptocurrencies for selling
• Merchant returns/displays the crypto list to the user

2. Get User's Crypto Balance

• The merchant queries Binance Asset SAPI for the user's balance
• Binance Asset SAPI returns balance details
• The merchant displays the balance to the user

3. Cryptocurrency Selection

• The system sets the default cryptocurrency by user's crypto balance or default option
• The user selects a cryptocurrency from the available list

4. Get Trading Pair Info

• The user/merchant requests trading pair information
• The merchant requests supported trading pairs from Institutional Crypto Buy/Sell Solution
• Institutional Crypto Buy/Sell Solution returns trading pair information
• The merchant returns/displays the trading pair info to the user

5. Display Available Fiat Currencies

• The system displays the available fiat currencies
• The user selects the target fiat currency to receive

6. Get Fiat and Crypto Amount Limits (optional)

• The merchant requests fiat and crypto amount limits from Institutional Crypto Buy/Sell Solution
• Institutional Crypto Buy/Sell Solution returns the limits
• The merchant side can validate the user's input amount before requesting a quote and displaying valid range to the user
  • you can skip this step if not needed and quote API will handle the validation

7. Get Quote

• The user enters the sell amount
• The merchant requests a real-time quote from Institutional Crypto Buy/Sell Solution
• Institutional Crypto Buy/Sell Solution returns quote details
• The merchant displays the quote information to the user

8. Execute Quote

• The user confirms and proceeds
• The merchant sends an execute quote request to Institutional Crypto Buy/Sell Solution
• Institutional Crypto Buy/Sell Solution returns an order ID; the order is created

9. Transaction Status Monitoring

• System enters a polling loop to monitor transaction status
• Merchant continuously queries Institutional Crypto Buy/Sell Solution for transaction details
• Institutional Crypto Buy/Sell Solution returns current transaction status
• Status updates are relayed back to the user
• Process continues until transaction is completed
• Institutional Crypto Buy/Sell Solution sends webhook notifications to Merchant for status updates

10. Transaction Completion

• Once the sell transaction is completed, Institutional Crypto Buy/Sell Solution will invoke merchant side's transfer API to transfer the fiat amount to the user's account
• Refer to Merchant-side API Requirements for more details

Sequence Diagram