Manage user funds for non-permit tokens and UTXO coins
Custodial Wallets store user funds under platform control. These wallets pay transaction fees and handle movements of tokens that don't allow fee delegation or "permit" functionality.
Required for tokens that cannot pay their own transaction fees (non-permit tokens) and UTXO-based cryptocurrencies
Navigate to the Custodial Wallets section in the Bicrypto admin panel.
Choose the blockchain (e.g., Ethereum, Tron, UTXO coin) and click Create/Deploy Custodial Wallet.
Upon creation, the platform assigns a wallet address you control. Users deposit non-permit tokens into this wallet.
Keep enough of the chain's native coin in the custodial wallet to cover withdrawal fees.
Example: ETH for Ethereum network, BNB for BSC network
When users withdraw, the custodial wallet sends tokens and deducts gas fees from its native coin balance.
Process: User requests → Wallet sends tokens → Fees deducted automatically
Ethereum, BSC, Polygon, Arbitrum, Optimism, etc.
Use for: Non-permit ERC-20 tokens that require gas fees
TRC-20 tokens and TRX transactions
Use for: TRC-20 tokens without permit functionality
Bitcoin, Litecoin, Dogecoin, Dash
Use for: All UTXO-based cryptocurrencies
Always keep sufficient native coins in custodial wallets to cover user withdrawal fees and operational costs.
Regularly check custodial wallet balances and transaction history for any unusual activity or issues.
Use multi-signature wallets and implement withdrawal limits to enhance security for large custodial operations.
Monitor gas fees and adjust your platform's withdrawal fees accordingly to maintain profitability.
Custodial wallets simplify user experience for tokens that can't pay fees themselves but require the platform to manage private keys and gas costs.