FAQs

What is a transaction ID (TXID)?

A transaction ID (TxID) or transaction hash is a unique string of characters given to every transaction that’s verified and added to the blockchain. In other words, a TxID is an identification number that labels each transaction on the blockchain. With TxID, you can look up your deposit and withdrawal history.

1. Click on 'Balances' and choose the appropriate Account Type.

2. Click on 'Trade History'.

3. Click on 'Deposit History' or 'Withdrawal History'.

4. Click on 'Transaction Hash ID'

How do I check the withdrawal transaction status on the blockchain?

1. Click on 'Balances' and choose the appropriate Account Type.

2. Click on 'Trade History'.

3. Click on 'Deposit History' or 'Withdrawal History'.

4. Click on 'Transaction Hash ID' and this will direct you to the blockchain where you can see the entire detailed history of your transaction.

Why do I get a "Network Busy" message? What can I do?

If you get a 'network busy' message, this means that the blockchain network is currently congested and will not be able to process your transaction. During this time, you can wait for a few minutes and try again or select other networks to withdraw your assets.

What can I do when I withdraw to the wrong address?

Once you complete the security verification and click 'Submit', the system will start initiating the withdrawal process where the funds will leave the wallet within Koinbay's control to a wallet of another platform the funds are being withdrawn into. Because of this completion and the inherent nature of blockchain, Koinbay will not be able to identify the receiver of the funds.

Why am I unable to deposit in my Koinbay account?

The deposit option will be enabled only after completing the KYC process after the initial registration.