To ensure your sell order is processed smoothly, it’s essential to send your Bitcoin (BTC) promptly and with appropriate network fees.
Key points to consider:
-
Transaction speed and fees:
Bitcoin (BTC) transactions can have variable fees based on network activity. Fees may increase significantly during periods of high demand on the network. Selecting an appropriate fee ensures your transaction is processed quickly.
-
Time limit:
To complete your sell order with BTC Direct, your BTC must be received within 3 hours of creating the sell order. Transactions not received within this window may result in delays or cancellations.
How to calculate network fees:
-
Default network fee:
Bitcoin transactions do not have a fixed fee and depend entirely on network congestion and transaction size. Ensuring you use an adequate fee is crucial to avoid delays.
-
Checking the current fee:
Use a reliable tool like mempool.space to view the current network status and recommended fees for a fast transaction.
-
Send from a wallet platform:
We strongly recommend sending your BTC from a wallet platform rather than an exchange. Wallets usually allow better control over fees and ensure faster processing compared to exchanges.
Additional advice:
-
Send only one transaction per order:
To avoid processing errors, send only one transaction per sell order. BTC Direct can only link one transaction to your order. If multiple transactions are sent for the same order, delays in processing may occur, and the order may not be completed correctly. -
Verify address:
Double-check the recipient address before initiating the transaction. Bitcoin transactions are irreversible, so accuracy is crucial.
How to confirm your transaction:
- Use mempool.space: After sending your BTC, visit mempool.space to confirm that your transaction has been processed.
- Input your wallet address: Enter your sending wallet address in the search bar. This will display a list of all transactions associated with your wallet.
- Locate your transaction: Find the transaction that matches the recipient address and amount you sent. Ensure the transaction status is marked as “Confirmed” to verify it has been processed and received.
- Confirmation details: If the transaction is still pending or marked as failed, you may need to adjust your fee and resubmit the transaction.
What happens if the transaction is delayed?
If your BTC is received after the 3-hour window, the sell order may not be processed. In this case, we will contact you to arrange for the BTC to be returned to your wallet address.
Please note that sending the BTC back to your wallet address may take at least one month due to the manual processing involved. We strongly encourage timely transactions to avoid such delays.
By following these steps and ensuring your transaction meets the requirements, you can complete your sell order with BTC Direct without unnecessary delays.
Comments
0 comments
Article is closed for comments.