power_settings_new
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Tarzan
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Joined: 2021-11-11
The crypto market can experience intense volatility and this can cause confirmations for transactions to slow down.
Some transactions can take SEVERAL DAYS to confirm depending on how small of a fee is sent.
Please review the links below to understand what your fee should be before trading!
- Rates must be inclusive of fees. If you are not paying for the fee you must let your customer know in advance and separately explain how large the fee is.
- Fees must be confirmed before the trade. In the event a fee is not discussed and a transaction is in limbo due to no confirmations for extended time, the customer is owed the difference if the value of the cryptocurrency were to decrease - the inverse does not apply.
- In the absence of fee discussion, a maximum confirmation time is applied: 2 hours. You are responsible for the difference if the confirmation time exceeds 2 hours.
- Good resources to calculate Bitcoin fees: Bitcoin Fees for Transactions | bitcoinfees.earn.com & Bitcoin Fee Calculator, Estimation + Chart of Unconfirmed Transactions
- Failure to warn your customers may result in a TWC or market ban for serious or repeat cases.
Note that you should NEVER go through with a trade until you receive at least 1 confirmation on the transaction.
