I have withdrawn bitcoin to my own wallet, when will it be processed?

Once you have confirmed your bicoin withdrawal with your 2FA code your bitcoin withdrawal will be placed in the queue. Bitcoin transactions are being sent every couple of minutes, so it doesn't take long before your withdrawal will be picked up from the queue. If your withdrawal is subject to a manual check this may take a little longer. It is best to contact us in that case. Usually it means that we need to check if the bitcoin address that you are using actualy belongs to your own wallet. The bitcoins will be sent once we verified that your withdrawal is being sent to your own wallet.

It could be that bitcoins do not immediately appear in your wallet, the reason could be:

  • You use a wallet on an exchange that requires confirmations (by the bitcoin network). Confirmations indicate that the transaction has been recorded in the blockchain. Miners who contribute to the network generally will, on average, find a block every 10 minutes which will confirm your transaction automatically. More confirmations mean a more definitive transaction. Some wallets only credit bitcoins when the transaction has 6 confirmations. If you still don’t see bitcoins in your wallet after 6 confirmations we advise you to contact the exchange or wallet.

  • You use a local wallet on your computer or phone, but it is busy synchronizing or a network error occurred (for example Bitcoin Core / Bitcoin QT). If your wallet is still synchronizing it means that the blockchain is not yet completely loaded. Your transaction will be placed at the end of the blockchain, which is why the purchased bitcoins will only appear when the blockchain has been fully downloaded. It could also be that your wallet cannot make a connection to the network, because of a firewall for example.

Do you have a question regarding your withdrawal? Feel free to contact us.

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