Deposit Workflow

Clients may request cryptocurrency deposits from blockchain wallet addresses into Bakkt’s custody. The investor receives the wallet address and then requests the deposit directly via the blockchain or the investor’s external wallet provider—not via the Bakkt system. See the following process steps for depositing cryptocurrency.

1. Clients request a blockchain “receive” address from the Bakkt system using the Retrieve Wallet Addresses endpoint. The investor must supply the account number and cryptocurrency type to acquire a blockchain-recognized receive address in which to send the cryptocurrency.

2. From the external wallet provider’s system, the investor must request to move cryptocurrency on the blockchain to the investor's Bakkt wallet ID from the "receive" address previously returned in the Retrieve Wallet Addresses endpoint request.

3. When Bakkt receives the cryptocurrency and applies it to the investor’s account, it posts the transaction details to an AWS SQS queue for you to consume.

Bakkt tries to maintain the same wallet addresses for the same investor accounts in order to provide investors with dedicated wallet addresses; however, the best practice is for clients to ask for a "receive" address each time (even if it is the same), so that Bakkt has a verified receive address for each deposit transaction.

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No Risk Limits

Bakkt does not have the ability to limit deposits into investor accounts, so there are no applicable risk limits for clients to set.