Buy Orders:
How Do Buy Order Processing Times Work?
Our orders are processed very quickly, but please note that we do not process orders until we have received payment. Depending on your payment method, the length of time it takes for your order to process may vary.
Typical Processing Times:
Online Eftpos, POLiPay, Account2Account (A2A) and Stripe - Instant processing
Manual Bank Transfer - Orders are processed and locked in as soon as payment clears into our bank account - Typically 2-4 hours.
Why Is My Buy Order Taking Longer Than Expected?
No one likes delays, but banks do not operate as quickly as the blockchain and recently we have found an increasing number of payments being delayed by the banks. If you feel that your access to crypto is slowing down because of your bank, please contact them to see if they can help solve the issue. Additionally, delays in cryptocurrency buy orders may also arise due to network congestion. For example, high transaction volumes in the Bitcoin network can extend processing times beyond the typical block confirmation duration of 10 minutes.
Are There Any Other Factors That Could Affect Processing Times?
Manual Review: We may need to contact you to confirm additional details about your order before processing it. This might cause a delay until the next business day.- Payment Processing Platforms: Issues on payment platforms, such as temporary outages or processing delays, can also affect processing times.
Sell Orders:
How Do Sell Order Processing Times Work?
When you place a sell order through us and once we have received the crypto (This is when we lock in the rate) we will then queue your order for payout, you will generally receive the payment the same day.
Here's a breakdown of the payout process:
We process payments in batches throughout the day.
It may take a few hours from order completion for the NZD to arrive in your bank account.
💡Orders made outside of normal business hours (9am-5pm) may not show in your account until the following day.
Why Is My Sell Order Taking Longer Than Expected?
Like buy orders, the sell process is automated but relies on specific details: Delays may also stem from network-specific issues like congestion, which can affect confirmation times on the blockchain, especially during high traffic periods.
Matching deposit and order amount
Using the correct network
Entering the correct memo (if required)
Are There Any Other Factors That Could Affect Sell Order Processing Times?
Unconfirmed Transaction: If your transaction shows as "unconfirmed," it's waiting for confirmation on the blockchain. This can happen during high network traffic or if you used a low network fee. Unfortunately, there's not much you can do here except wait. If delays persist, consider troubleshooting by verifying that your payment details are accurate, checking for network issues, and providing transaction information (e.g., transaction ID or hash) to support for further investigation.
What To Do If Your Sell Order Transaction Doesn't Complete?
Please refer to the next article for further steps...
Cryptocurrency Transaction and Swap Delays
Causes of Transaction or Swap Delays
Network Congestion
Cryptocurrency networks can experience high transaction volumes, leading to increased processing times. For instance, Bitcoin transactions often take around 10 minutes for block confirmations, but this can extend with network congestion.
Payment Processing Issues
Delays can also occur if there are issues on the payment processing platform. For example, XRP transactions are generally instant, but network or processing issues can cause unexpected wait times.
Order Holds During Swaps
Sometimes, the system may hold an order during swaps (e.g., USDC to XRP). In this case, the rates remain locked to prevent financial loss, and the swap will proceed once the hold is resolved.
Troubleshooting Transactions and Swaps
If your cryptocurrency transaction or swap is delayed, here are some steps to take:
Confirm Payment Has Been Processed: Verify that payment left your wallet successfully and recipient details are correct.
Check for Network Issues: Look online to see if the blockchain is experiencing congestion or outages.
Provide Transaction Details: When contacting support, include a screenshot of your transaction details and your transaction ID or hash for speedy resolution.
Common Issues and Best Practices
XRP Delays
Although XRP transactions are designed to be instant, delays may arise due to network issues or additional transaction requirements. Monitoring network status can provide insights.
USDC to XRP Swap Appears as a "Send"
If your USDC to XRP transaction appears as a "send," the system might be holding the order. During this time, rates are locked to ensure no financial loss occurs.
Support Assistance
Always include detailed transaction information (e.g., screenshots, transaction ID) in your email for assistance.By understanding the causes of delays and following these troubleshooting steps, most issues can be efficiently addressed.
Country-Specific Considerations
New Zealand & Australia
The speed of your transaction will typically come down to how quickly the bank sends and receives the funds, how congested the network is and if any additional reviews are needed.
When using Online Eftpos, POLiPay, Account2Account (A2A) or Stripe payment methods, in most cases, we send the payment instantly.
For manual bank deposit payments, your order will be sent once the payment clears from the bank.
South Africa
Your rates are locked immediately when using OZOW or SiD EFT, and we send your order as soon as your funds arrive in our account. This can take from 2 minutes to 2 days depending on the banking system. For the fastest payment use bank transfer and select an “immediate payment” which usually takes 1-2 hours for the funds to arrive.
Notify us within 10 working days if you are experiencing any issues and our team will gladly resolve your inquiries.