To ensure your sell order is processed smoothly, it’s essential to send your Bitcoin Cash (BCH) promptly and with appropriate network fees.
Key points to consider:
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Transaction speed and fees:
Bitcoin Cash (BCH) transactions generally have low fees compared to Bitcoin (BTC). However, fees can vary slightly depending on network activity. Selecting an appropriate fee ensures your transaction is processed quickly. -
Time limit:
To complete your sell order with BTC Direct, your BCH 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:
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Default network fee:
Bitcoin Cash transactions typically require very low fees (e.g., 0.00001 BCH). However, during periods of high network activity, the fee may need to be adjusted slightly higher to ensure prompt confirmation. -
Checking the current fee:
Use a reliable tool like Blockchair Bitcoin Cash Explorer to view the current network status and recommended fees for a fast transaction. -
Send from a wallet platform:
We strongly recommend sending your BCH from a wallet platform rather than an exchange. Wallets usually allow better control over fees and ensure faster processing compared to exchanges.
Additional advice:
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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. BCH does not require a destination tag, but ensure you are sending to a Bitcoin Cash-compatible address and not a Bitcoin (BTC) address.
How to confirm your transaction:
- Use Blockchair: After sending your BCH, visit Blockchair Bitcoin Cash Explorer 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 BCH 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 BCH to be returned to your wallet address.
Please note that sending the BCH 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.
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