Deposits and withdrawals involve both blockchain transactions and internal account processing within the exchange.
High-Level Process Overview
In general, the process includes:
Initiating a transaction (deposit or withdrawal)
Broadcasting the transaction to the blockchain network
Waiting for network confirmations
Updating the user’s account balance
The exact flow may vary depending on the asset, network, and platform configuration.
Blockchain Confirmations Explained
Blockchain confirmations ensure that a transaction is finalized and irreversible.
Until the required number of confirmations is reached, the transaction may remain pending.
Different networks may require different confirmation thresholds.
Important Notes
Confirmation times may vary
Delays can occur during network congestion
Incorrect network selection may result in asset loss
Testnet behavior may differ from mainnet