Cryptocurrency deposit processing times.
For security reasons, we require a digital asset / cryptocurrency deposit to receive a number of confirmations on its blockchain before the funds can be credited to your account.
What are confirmations?
When a transaction is broadcasted to the network, it has to wait to be included in a block by the miners. Once a transaction has been included in a mined block, the transaction has received 1 confirmation. With each subsequent block, the number of confirmations increases for the transaction.
Why are there confirmation requirements?
To avoid the risks of double spending, funds aren’t credited until a certain number of
confirmations have taken place (as listed below).
The more confirmations received, the more permanent / irreversible the transaction is.
How long do confirmations take?
Each block is found at a different rate depending on the blockchain.
For example, on the Bitcoin blockchain, a block is mined on average every 10 minutes, and Kraken only credits Bitcoin deposits to a client’s account after 6 confirmations, which takes approximately 60 minutes.
However, sometimes it can take Bitcoin miners 30 or even 60 minutes to mine a single block
(1 confirmation). This is outside of our control.
|Cryptocurrency||Confirmations Required||Estimated Time
If included in the next block.
|Bitcoin (BTC)||6 confirmations||60 minutes|
|Bitcoin Cash (BCH)||15 confirmations||150 minutes|
|Tether USD (USDT) ERC20||30 confirmations||6 minutes|
|Tether USD (USDT) OMNI||6 confirmations||60 minutes|