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Why is My Cryptocurrency Transaction Delayed?

Withdrawal

To protect our customers, BitMart may delay or cancel cryptocurrency withdrawal form BitMart account if we suspect that our customers did not authorize the transaction.

If your withdrawal was canceled or didn’t go through within 72 hours, please contact our customer support team from here to submit your identity verification, which includes photos of your registered photo ID (both front and back) and a photo of you holding your ID with a note to authorize the transaction (the date of your request must be included)

Please contact us if you see any suspicious activity on your account.

 

Deposit

If you have trouble with deposits made to BitMart accounts, please check whether it gets delayed on the blockchain confirmation. Delayed blockchain confirmation would significantly impact the cryptocurrency’s deposit.

 

There are 3 common reasons for transaction delay:

 

1. Waiting in the queue

Each deposit would be sent to the queue to wait for node confirmation. Before the confirmation of each block, deposit would not be executed. It may get rejected on the blockchain for fee rate reasons; but once it gets confirmed, deposits will be executed and it will get recorded on the chain. Then the deposit would be shown in your BitMart account shortly.

Different cryptocurrencies have their own processing time, the time may be from 5 seconds to 60 mins. Therefore, a little bit of delay on the blockchain is quite normal, please wait patiently.

 

2. Setting gas fee too low

Senders might be allowed to choose their own gas fee limit: when the limit is too low, it actually can get dragged to the last to be confirmed; with a higher fee limit, the confirmation process would be faster.

If you have realized that you might have set the gas fee limit too low, you might need to wait for the cancellation of that deposit and then set up a new deposit with a higher gas fee limit to get your deposit went through.

 

3. The network is busy

Sometimes the blockchain might experience peak traffic, which means there are too many transactions and a shortage of recordings. Most of the time, that also means the gas fee can get higher and miners on the blockchain would choose accordingly to process. Even if the gas fee you have put in is sufficient enough, it might still get slow.

In this case, you might want to wait, or cancel the transaction for another time, or increase your gas fee if you need this deposit immediately.

 

If you have already got confirmation on the blockchain but the transaction is still not showing in your account, it might be due to the wrong deposit address, wrong or missing memo, or wrong coins to the wallet. In this situation, you might need to contact senders and BitMart support team for technical assistance. 

 

BitMart Team

June 3, 2022

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