What are Blockchain Confirmations?

Essentially, a Blockchain is a public record of all cryptocurrency transactions that have ever been executed.

Blockchain transactions are not instant and require verification via 'Confirmations'. The Confirmations occur when transactions are confirmed to be legitimate by miners. This confirmed block will be added to the Blockchain and continues to be confirmed as new blocks are added.

Cryptopia does not perform these Confirmations or have any control over the time in which these Confirmations are completed. The Confirmations are completed by miners on the Blockchain. Transactions with higher fees will are far more likely to be added to a block first.

Confirmation times are determined by a number of factors. The two main factors are:

#1. The network transaction fee paid when a transaction is first sent (i.e. the 'withdraw fee').

#2. The number of transactions currently on the network waiting to be confirmed. Generally, the more transactions in the queue, the longer it will take for the Confirmations and the balance to be available.

Can I speed up the Confirmations?

If you have sent a transaction from another exchange to a Cryptopia wallet, the fee is set by the other exchange and not by Cryptopia. However, if you are withdrawing from a personal wallet, you can try sending future transactions with a higher fee to get your transaction added to a block faster. 

The type of wallet you are using will determine how much control over these configurations you will have, such as setting a withdrawal or transaction fee. Each wallet and cryptocurrency coin have different setting configurations, but may be labelled as a 'transaction fee' or 'withdrawal fee'. 

How do I track my Transaction progress?

You can check the progress or status of your transaction on the Blockchain by searching for its Transaction ID. This will show its current Confirmation state, as well as the network transaction fee that was paid for it. 

Firstly, locate the Transaction ID/has of the transaction. This will be generated after you have withdrawn your cryptocurrency funds from a wallet and it has been successfully broadcast to the Blockchain. What exactly the Transaction ID/hash will look like, will differ in length and characters for each cryptocurrency coin.  The Transaction ID/hash will be located in your withdrawal history. 

A block explorer is an online accessible version of the Blockchain. Below is a Transaction ID/hash search example using BTC (Bitcoin).

#1. Firstly, you can locate the block explorer for BTC by heading to the CoinInfo page and selecting the "Links"heading and clicking the link next to 'Explorer'

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#2.  Each block explorer will have a search bar for you to enter your Transaction ID/hash, particular address etc. In this example there are two search bars.

#3. Enter your Transaction ID/hash in either and strike enter.
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#4. Here the status of your transaction, the address(es) it was sent to, the transaction fee paid and the number of Confirmation will be shown. As time goes on this number of confirmations will increase. 

When will my Deposit be confirmed and appear in my Available Balance? 

Cryptopia requires verification of a certain number of Blockchain Confirmations, before the value of a transaction is added to your Available Balance. The number of confirmations required is determined by Cryptopia for the safety and security of user transactions, based on the strength and security of each cryptocurrency coin and its blockchain.

Basically, your transaction may have 1 Confirmation, but depending on the strength and security of that network Cryptopia would require this transaction to have been confirmed several times before we will accept that the transaction is truly secure on the blockchain.

Follow the instructions below to check the number of Deposit Confirmations required by Cryptopia. DOT coin is used for illustration purposes only.

#1. Visit Coininfo.

#2. Search for the relevant coin, e.g. DOT
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#3. Go to 'Settings' and the view the number of Deposit Confirmations.

When will my Withdrawal be confirmed? 

Cryptopia does not require Blockchain Confirmations to broadcast your withdrawal, the availability of that withdrawal will depend on your destination wallet.  Each wallet may vary. If you are unsure about the number of third party exchange confirmations required, please check directly with their support team.

For withdrawals only, if you notice an 'Unconfirmed' status in your Withdrawal page, this means that your withdrawal is waiting for you to confirm the transaction prior to processing. To see the status of your Withdrawal:

#1. Log into your Cryptopia account.

#2. Go to 'Withdraw History'.

#3. The status will be next to the transaction. 

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#4. If it is unconfirmed and you have not received the confirmation email, you can resend or cancel it here. 
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PLEASE NOTE: Every Withdrawal requires you to click on the 'Confirm Withdraw' link in the email sent to your registered email address. This is in place to ensure an added layer of security.