Why do cryptocurrency deposit transactions take longer than usual to be processed?

When you transfer cryptocurrency, it will leave your cryptocurrency wallet instantly but will be credited once the transaction has been validated in the transaction ledger (blockchain). For more information, please check this article.

Potential reasons for a long transaction processing:

  • the transaction fee was too low. This often happens if you send a small amount, as transaction fees are often set as a percentage of the amount you send
  • the same cryptocurrency was sent (also called double spending). Such a transaction can't be approved
  • the cryptocurrency is not validated. You are sending cryptocurrency that has not yet been sent to your wallet (the one it's sent from), and therefore it will only be sent after confirmation
  • a high volume of transactions going through the network, so you'll need a higher transaction fee to send it in the normal time frame

If the transaction has already been processed in the blockchain and received the needed amount of confirmations, then the reasons can be the following:

  • we requested additional information about the made transaction from you but haven't heard back from you yet
  • transaction's volume is less than the minimum deposit limit
  • we are receiving a large number of deposit requests, due to which it takes more time for us to process them

In case the deposit is being processed much longer than usual, please contact us and provide transaction details (including hash/txid).

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