Glossary of Terms

Term	Definition
Quote	A temporary, binding price offer provided by Bitnob for a specific payout request, including funding amount, destination currency amount, and expiration time.
Quote ID	A unique identifier tied to a specific quote. Used to lock exchange rates and initiate payouts.
Trip	A full transaction timeline object tracking every critical event in a payout: submission, payment receipt, payment confirmation, payout initiation, settlement, or failure.
Trip ID	A unique identifier assigned to every payout session, used to track lifecycle stages and reconcile payouts across webhooks and API responses.
Reference	A unique identifier generated by Bitnob for each payout attempt, often used externally to track transactions with your users or systems.
Funding Address	The blockchain address (or Lightning invoice) generated by Bitnob where the customer must send payment to fund a payout.
Payment Asset	The asset used to fund a payout (e.g., Bitcoin BTC, Tether USDT on TRC20 or ERC20, or Lightning Network payment).
Payout	The process of delivering fiat money to a beneficiary's bank account, mobile money wallet, or cash pickup location after successful funding.
Beneficiary	The final recipient of a payout — the person or business whose bank account or wallet will receive the funds.
Funding Status	The state of the payout’s funding phase (e.g., pending, paid, underpaid, expired).
Payout Status	The state of the payout’s fiat settlement phase (e.g., awaiting_payment, processing, success, failed).
Completion Time	The timestamp at which the payout reaches a terminal state (success, failure, or expiry).
Time to Finish	The total duration (in seconds) between when the payout was submitted and when it completed.
Asset Received At	The timestamp when Bitnob first detects incoming payment at the funding address.
Asset Confirmed At	The timestamp when Bitnob considers the incoming payment fully confirmed and spendable.
Processing Start	The timestamp when Bitnob starts processing the fiat payout after funding is confirmed.
Settlement	Successful delivery of fiat funds to the beneficiary's account.
Settlement Failed	A payout that was funded but failed to be delivered due to reasons like invalid account numbers, bank rejections, or compliance blocks.
Callback URL	An optional URL provided by the customer where Bitnob sends webhook notifications about payout status changes.
Webhook	A real-time event notification sent from Bitnob to the customer’s server, signaling critical updates like funding received, payout started, payout success, or payout failure.
Funding Window	The period between when a quote is issued and when it expires, during which payment must be made.
On-the-Fly Settlement	A settlement model where the customer funds each payout individually in real-time, without maintaining a preloaded wallet balance at Bitnob.
Wallet-Funded Settlement	A settlement model where the customer maintains a prefunded wallet balance at Bitnob, and payouts are deducted from that balance instantly.
Sandbox Environment	A safe, simulated environment where customers can test payout flows without real money movement.
Production Environment	The live environment where real blockchain payments and fiat payouts are processed.
Expiry	The event when a quote or funding window expires before payment is received, canceling the payout attempt.
Underpayment	When the customer sends less than the required amount to fund a payout.
Overpayment	When the customer sends more than the required amount to fund a payout.
Settlement Window	The expected time it takes for a fiat payout to complete once processing has started, depending on corridor and method (e.g., NIP Instant, SEPA, ACH).

How to Use This Glossary

Reference it whenever integrating Bitnob Payouts APIs.

Share it internally with engineering, product, ops, and finance teams building on Bitnob.

Use it to structure your monitoring dashboards and incident response systems.

It makes internal handoffs (PM → Engineering → Compliance → Support) much faster and cleaner.