> ## Documentation Index
> Fetch the complete documentation index at: https://apidocs.hopnow.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Core concepts

<div className="hop-lede">Everything you do happens inside an <span className="hop-strong">account</span>. An account holds money in two places, a <span className="hop-strong">trading account</span> and any number of <span className="hop-strong">virtual accounts</span>, and every payin, payout, transfer and conversion belongs to one account. Pick the view that matches how you use Hop.</div>

## How the pieces relate

<Tabs>
  <Tab title="Direct customer">
    <div className="hop-flow hop-model"><div className="hop-model-box hop-model-customer"><div className="hop-model-head"><a href="/fx/api-reference/introduction" className="hop-model-name">Customer</a><span className="hop-model-count">You</span></div><p className="hop-model-note">Your organization. Your accounts belong here, along with:</p><div className="hop-model-tags"><a href="/fx/api-reference/authentication" className="hop-model-tag">API keys</a><a href="/fx/api-reference/webhooks/create-endpoint" className="hop-model-tag">Webhook endpoints</a></div><div className="hop-model-box hop-model-account"><div className="hop-model-head"><a href="/fx/api-reference/accounts/get-account" className="hop-model-name">Your account</a><span className="hop-model-count">One</span></div><p className="hop-model-note">The legal entity money is held and moved for: your organization. Its identity is what gets verified.</p><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/associated-persons/create-associated-person" className="hop-model-name">Associated persons</a><span className="hop-model-count">Business accounts</span></div><p className="hop-model-note">The people behind a business: owners, directors, signers.</p></div><div className="hop-model-grid"><div className="hop-model-box hop-model-wallet"><div className="hop-model-head"><a href="/fx/api-reference/accounts/get-balances" className="hop-model-name">Trading account</a><span className="hop-model-count">Always there</span></div><p className="hop-model-note">One balance per currency. Converts currency. Pays out to your own accounts only.</p><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/deposit-instructions/list-deposit-instructions" className="hop-model-name">Deposit instructions</a></div><p className="hop-model-note">Bank details a payer sends money to.</p></div><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/wallets/create-wallet" className="hop-model-name">Wallets</a></div><p className="hop-model-note">Crypto addresses a payer sends to.</p></div></div><div className="hop-model-box hop-model-wallet"><div className="hop-model-head"><a href="/fx/flows/va-onboarding" className="hop-model-name">Virtual account group</a><span className="hop-model-count">One or more</span></div><p className="hop-model-note">The verification the account passes before it can hold virtual accounts.</p><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/virtual-accounts/create-virtual-account" className="hop-model-name">Virtual account</a><span className="hop-model-count">One or more</span></div><p className="hop-model-note">Its own bank details and balance. Receives from anyone and pays out to any beneficiary.</p></div></div><div className="hop-model-box hop-model-wallet"><div className="hop-model-head"><a href="/fx/api-reference/beneficiaries/create-beneficiary" className="hop-model-name">Beneficiary</a><span className="hop-model-count">One or more</span></div><p className="hop-model-note">Someone you pay. Mark your own accounts as self-owned: the trading account can only pay those.</p><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/payout-destinations/create-destination" className="hop-model-name">Payout destination</a><span className="hop-model-count">One or more</span></div><p className="hop-model-note">A bank account or wallet of the beneficiary, where the money lands.</p></div></div></div><div className="hop-model-flow"><div className="hop-model-flow-title">How money moves</div><div className="hop-model-flow-row"><span className="hop-model-flow-node">Payer</span><span className="hop-model-flow-arrow"><span>payin</span><span aria-hidden="true">→</span></span><span className="hop-model-flow-node hop-model-flow-node-strong">Trading account or virtual account</span><span className="hop-model-flow-arrow"><span>payout</span><span aria-hidden="true">→</span></span><span className="hop-model-flow-node">Payout destination</span></div><div className="hop-model-flow-notes"><span><strong>Transfer</strong> moves money between the trading account and a virtual account, or between two virtual accounts, in the same currency.</span><span><strong>Conversion</strong> happens in the trading account only.</span></div></div></div></div></div>
  </Tab>

  <Tab title="Platform customer">
    <div className="hop-flow hop-model"><div className="hop-model-box hop-model-customer"><div className="hop-model-head"><a href="/fx/api-reference/introduction" className="hop-model-name">Customer</a><span className="hop-model-count">You</span></div><p className="hop-model-note">Your organization. Your accounts belong here, along with:</p><div className="hop-model-tags"><a href="/fx/api-reference/authentication" className="hop-model-tag">API keys</a><a href="/fx/api-reference/webhooks/create-endpoint" className="hop-model-tag">Webhook endpoints</a></div><div className="hop-model-box hop-model-account"><div className="hop-model-head"><a href="/fx/api-reference/accounts/get-account" className="hop-model-name">Your account</a><span className="hop-model-count">One</span></div><p className="hop-model-note">Your own account. It collects the fees you charge your end customers and has the same parts as the account below.</p></div><div className="hop-model-box hop-model-account hop-model-stacked"><div className="hop-model-head"><a href="/fx/api-reference/accounts/get-account" className="hop-model-name">End-customer account</a><span className="hop-model-count">One per end customer</span></div><p className="hop-model-note">The legal entity money is held and moved for: one of your end customers, created with <a href="/fx/api-reference/accounts/create-account">Create Account</a>. Its identity and associated persons are what gets verified, and its virtual accounts carry its name.</p><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/associated-persons/create-associated-person" className="hop-model-name">Associated persons</a><span className="hop-model-count">Business accounts</span></div><p className="hop-model-note">The people behind a business: owners, directors, signers.</p></div><div className="hop-model-grid"><div className="hop-model-box hop-model-wallet"><div className="hop-model-head"><a href="/fx/api-reference/accounts/get-balances" className="hop-model-name">Trading account</a><span className="hop-model-count">Always there</span></div><p className="hop-model-note">One balance per currency. Converts currency. Pays out to your own accounts only.</p><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/deposit-instructions/list-deposit-instructions" className="hop-model-name">Deposit instructions</a></div><p className="hop-model-note">Bank details a payer sends money to.</p></div><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/wallets/create-wallet" className="hop-model-name">Wallets</a></div><p className="hop-model-note">Crypto addresses a payer sends to.</p></div></div><div className="hop-model-box hop-model-wallet"><div className="hop-model-head"><a href="/fx/flows/va-onboarding" className="hop-model-name">Virtual account group</a><span className="hop-model-count">One or more</span></div><p className="hop-model-note">The verification the account passes before it can hold virtual accounts.</p><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/virtual-accounts/create-virtual-account" className="hop-model-name">Virtual account</a><span className="hop-model-count">One or more</span></div><p className="hop-model-note">Its own bank details and balance. Receives from anyone and pays out to any beneficiary.</p></div></div><div className="hop-model-box hop-model-wallet"><div className="hop-model-head"><a href="/fx/api-reference/beneficiaries/create-beneficiary" className="hop-model-name">Beneficiary</a><span className="hop-model-count">One or more</span></div><p className="hop-model-note">Someone you pay. Mark your own accounts as self-owned: the trading account can only pay those.</p><div className="hop-model-box hop-model-leaf"><div className="hop-model-head"><a href="/fx/api-reference/payout-destinations/create-destination" className="hop-model-name">Payout destination</a><span className="hop-model-count">One or more</span></div><p className="hop-model-note">A bank account or wallet of the beneficiary, where the money lands.</p></div></div></div><div className="hop-model-flow"><div className="hop-model-flow-title">How money moves</div><div className="hop-model-flow-row"><span className="hop-model-flow-node">Payer</span><span className="hop-model-flow-arrow"><span>payin</span><span aria-hidden="true">→</span></span><span className="hop-model-flow-node hop-model-flow-node-strong">Trading account or virtual account</span><span className="hop-model-flow-arrow"><span>payout</span><span aria-hidden="true">→</span></span><span className="hop-model-flow-node">Payout destination</span></div><div className="hop-model-flow-notes"><span><strong>Transfer</strong> moves money between the trading account and a virtual account, or between two virtual accounts, in the same currency.</span><span><strong>Conversion</strong> happens in the trading account only.</span></div></div></div></div></div>
  </Tab>
</Tabs>

Select any box to open its reference.

## Worth knowing

* The trading account and virtual accounts are two places inside the same account, not two kinds of account.
* A virtual account cannot be created straight away. The account first opens a virtual account group and passes its verification.
* Currency is converted in the trading account only. To convert money that arrived in a virtual account, transfer it to the trading account, convert it, and transfer it back if you pay from a virtual account.

## Next

* [Virtual account onboarding](/fx/flows/va-onboarding): open a group and get it approved.
* [Money movement](/fx/flows/money-movement): the calls behind each movement.
* [Quickstart](/fx/quickstart): sign a request and make your first payout.