Many times users encounter delays in transaction confirmation and these delays might last for days and even weeks. We understand that it can most times be inconvenient for both the sender and the recipient.
Few cryptocurrency transaction platforms like Cryptofully only require just one confirmation in order to initiate and process transactions, and these blockchain delays are generally beyond our control.
Here are two reasons your transaction may be delayed on the blockchain network;
When there are lots of traffic on the network, it experiences congestion which can cause a delay in confirmation as the network can only handle a certain amount of transactions per block. A spike in transaction activity causes the mempool (memory pool) to become congested because so many transactions are waiting to be included in the next block. Users’ transactions may show as unconfirmed or pending for a long period of time, and we understand how this may cause concern and have users worried about the status of their money.
Transactions eventually get confirmed; only it just takes a while longer than usual.
Low transaction fees
Users pay a certain amount as a transaction fee for every blockchain transaction. The higher you set your transaction fee, the faster your transaction is confirmed on the blockchain network. If your fee is set low, there are chances that your transaction will be delayed as miners will prioritize transactions with higher fees over low transaction fees.
If your transaction is unconfirmed on the blockchain network and you suspect it might be due to the low transaction fee and your wallet supports RBF(Replace By Fee), you can redo the transaction using RBF.
Cryptofully is a digital payment platform that allows users to send money to any Nigerian bank using cryptocurrency. With Cryptofully, users can send and receive crypto payments from anywhere in the world, cash-out into any Nigerian bank account.
If you experience a delay in transaction confirmation, please be patient and wait. If delay takes up to 24 hours, please feel free to reach out to our Customer Support team at [email protected] and we will take a look. We are sure to help get those funds home.