When the crypto transaction is Fully Processed?
When a transaction is broadcasted to the blockchain, it is presented to be included in a block by the miners. When it appears in a block, the transaction has received 1 confirmation.
With each additional block, the number of confirmations increases for the transaction. This is done to avoid the risk of double spending, and therefore funds are not credited until a minimum number of confirmations have taken place.
Estimated processing timeframes
This varies by cryptocurrency. Each block is found at a different rate depending on the blockchain speed. For example, Bitcoin blocks are found on average every 10 minutes. Most exchanges, including CoinSmart, requires at least 3 confirmations before crediting a client's account, which takes approximately 30 minutes.
|Bitcoin (BTC)||3||30 minutes|
|Ethereum (ETH and ERC20)||15||3 minutes|
|Cardano (ADA)||15||10 minutes|
|Litecoin (LTC)||6||15 minutes|
|Bitcoin Cash (BCH)||6||60 minutes|
|Dogecoin (DOGE)||40||40 minutes|
|Solana (SOL)||30||40 minutes|
|Avalanche (AVAX)||20||1-5 minutes|
Estimated confirmation times are approximations and will vary based on the overall conditions and traffic on the network. CoinSmart does not guarantee any confirmation times and has no ability to affect the speed at that transactions are confirmed on the respective blockchains. We strive to complete all crypto withdrawals within 1 hour.
If your crypto withdrawal request is processed for longer than 1 hour at CoinSmart, please contact our support team directly via:
- E-mail: firstname.lastname@example.org
And we’d be happy to help you make your crypto experience a great one!