How it works?
Once you register a wallet with us, we begin constantly monitoring the Monero network for incoming payments. As soon as a transaction destined to your wallet is detected, our bot notifies your e-commerce service and it may update the order as paid. (Actually, you may receive up to three notifications of different levels).
Vigla is not a payment processor in the traditional sense. We never control your coins. We cannot hold them, spend them, or decide what you do with them. All payments land in the wallet you control.
What Vigla effectively does, is to free you of the burden of constantly running wallet software, keeping it up with network updates, making sure the node you use is in sync, or running it yourself, which means maintaining gigabytes of blockchain copy.
Monero (XMR) is the only cryptocurrency that provides strong anonymity measures. Transactions are encrypted and the identity of both sender and recipient are kept secret, as well as the amount being transferred.
Monero is what Bitcoin (BTC) was meant to be: decentralized, fast, anonymous internet money. While we still consider Bitcoin a great project and technical breakthrough, we are fully aware it fails at keeping secrets. In fact, the Bitcoin blockchain has been designed as open book that anyone can read. With very little effort and a bit of statistical analysis, the flow of capital can be traced accurately. Since most exchanges must comply with AML/KYC requirements nowadays, the governments, hackers and other malicious entities can associate funds with people's identities.
Bitcoin resembles the first years of Internet when all traffic went unencrypted. Any powerful observer could monitor the traffic. Decades later, despite having SSL in our browsers and email clients, we are falling victim to unprecedented surveillance, partially because the project lacked encryption and anonymization in the base protocols that provide the backbone of contemporary worldwide communication.
Contrary to Bitcoin, which develops partial and limited privacy features, Monero started with different approach, to encrypt everything from the beginning. It began the privacy-invigilation arms race from much better position, and while Monero has been around since April 2014, the network proved to be resistant to attacks and flow analysis.
Are my coins secure?
Yes. Vigla is never able to touch your coins.
Each Monero wallet has two secret keys. One of them, secret view key allows to see incoming payments. This is the key we ask you to share with us, in order to monitor the network for funds you receive. The other key is the secret spend key, which is the most important part of the wallet: it allows you to sign transaction, i.e. move the funds.
Vigla never asks you for secret spend key or seed. Nobody ever should. If anyone does, consider it a scam and don't even reply.
Even though the possession of a secret view key doesn't pose a risk to your coins, it gives insight into your earnings. Security of that key is of paramount importance to us, and we constantly seek to keep that data secure. However, bad things happen sometimes. Should any data leak occur, we will instantly inform you and provide further steps to protect your future data (move funds, cease to use the wallet with compromised key).
Even in the worst-case scenario of data security breach at Vigla, no one will be able to steal your funds using the data we have. In such unlikely scenario, you'd end up in similar situation as you would have begun with when using Bitcoin instead of Monero: someone would see your money flow. (Still, Monero would allow you to lose the tail, while Bitcoin would not).
How do I associate payments with orders?
Monero comes with the great feature of subaddresses. It means every wallet can have multiple addresses. Our API can generate them for you. Assign an address to each order your customers place, and wait for our notification. It will include both the amount and the destination address, clearly indicating which order has been paid for.
Although we encourage the one address per order approach, you are free to use addresses in the way you like, including address reuse. However, you'll have to keep track of the payments as we currently don't provide a balance check service.
When do I get notified about payment?
There are three statuses an incoming payment may have. You receive first notification as soon as we spot an incoming transaction on the network. Then, after every status change you receive another notification about the update. The statuses are:
The transaction is in the memory pool, a kind of storage where new transactions await being confirmed and registered on the blockchain. This level indicates a payment has been sent to you and validated by the network nodes to be properly constructed and spending funds the sender actually possesses. However, in rare circumstances this may not be enough. There are potential attack scenarios, requiring some technical knowledge but little investment, where such transaction would get replaced and invalidated.
Generally speaking, you may use this status to confirm orders where delivery speed is crucial and you may accept the risk of funds loss (although unlikely). A good scenario is coffee shop where drinks should be served ASAP but occasional loss of payment is not critical for the business.
The transaction has been signed into a block and became a part of the blockchain. Usually it means the payment is secured but in a very unlikely event of chain reorganization the transaction may become invalidated and funds would return to the sender.
Freshly mined funds are locked, which means it's impossible to spend them further. With each subsequent mined block the likelihood of reorganization shrinks drastically, making the transaction eventually reach the last status:
Per standard of the Monero network, after 10 blocks have been mined, the funds become unlocked and the recipient may spend them in subsequent transaction. This is the last and most secure status of the payment.