Most coins and tokens will be sent immediately after you have approved the withdrawal confirmation email found in your mailbox of the email linked to your account.
What is in this article?
- Created Status
- Withdrawal Confirmed
- Processing Status
- Cancelled Status
- Completed Status
- Maintenance Status
Although most coin and token withdrawals are processed immediately, withdrawals can take up to 12 hours. We endeavor to process your withdrawals and have them broadcasted on the Blockchain as soon as possible. However, we are unable to guarantee instant withdrawals.
If you intend to have time-sensitive withdrawals, we strongly advise that you store your coins and tokens on a private wallet. Time-sensitive payments should not be made from your CoinSpot wallet.
Most automatically processed coin and token withdrawals from CoinSpot will execute within a few minutes, but if manual approval is required or our hot wallet has insufficient funds and requires to be refilled via manual intervention, the withdrawal will take longer to process. CoinSpot hot wallet funds are kept to a minimum level and refilled periodically to ensure security risks are minimised.
In situations where there is wallet maintenance, our wallets are congested or we have an unexpected outage, the withdrawal may be longer than 12 hours.
You can check the status of your transactions via the Transaction Tab on each coins respective wallet page. If the status is processing, please check your email inbox for any correspondence from us.
Figure 1. Coin Withdrawal Status - (Transactions Tab)
If your withdrawal has been pending for an extended period of time, we may be able to cancel your withdrawal and return the funds to your wallet. Please contact our Support team for further information.
Below are each statuses of the withdrawal status, please take the time to familiarise yourself with the corresponding status.
Creating the withdrawal will stay in a created status until confirmed. This can be confirmed via the confirmation email link sent to your mailbox. If you do not receive the email, please click ‘Resend’ or cancel the send and try again after three or more attempts to resend the email. If you do not wish to commence with your withdrawal, you may cancel the transaction from the red button ‘Cancel’.
Figure 2. Coin Withdrawal Status - (Created Status)
Once confirmed through the email, you will be redirected to login and be presented with the confirmation screen shown below. Once your send leaves the platform, you can check back on the transaction in the Transaction window.
Figure 3. Coin Withdrawal Status - (Withdrawal Confirmed)
Once confirmed from your mailbox, you may be required to complete the transaction through a phone call. These will be indicated by the ‘Transaction is waiting for approval’. Please contact our Support team or wait until we reach out.
Figure 4. Coin Withdrawal Status - (Processing Status)
In the event your transaction is to be cancelled by yourself or the team, your transaction will appear as such. All funds will automatically be returned to your wallet and ready to be sent out again.
Figure 5. Coin Withdrawal Status - (Cancelled Status)
Once you have completed the process in your coin withdrawal, your status will adjust to the below. You may find the TXID in the ‘View' button to the far right. You may use an appropriate Blockchain Explorer below to review the transaction.
Figure 6. Coin Withdrawal Status - (Completed Status)
If the coin you are trying to send off the platform is undergoing wallet maintenance, you will receive this notification once you have confirmed the send. We may also temporarily restrict access in accessing the send page of the wallet.
Users will have the option in cancelling their send via the Transactions Tab or to leave the send and this will be re-processed after maintenance has been completed.
Figure 7. Coin Withdrawal Status - (Maintenance Status)
Need more help?
Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new
or start a conversation with us via Live Chat and our team will provide full instructions and advice.