Understanding how long your cryptocurrency orders take to process is essential for a smooth trading experience. Whether you're buying or selling digital assets, multiple factors—ranging from payment methods to blockchain network conditions—can influence processing times. This guide breaks down everything you need to know about order timelines, common delays, and how to avoid them.
Buy Orders: Processing Times Explained
When you place a buy order, the clock starts ticking only after we receive your payment. Until then, the transaction remains pending. This means the speed of your bank or payment provider plays a crucial role in how quickly your order moves forward.
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Typical Processing Times by Payment Method
- Online Eftpos, POLiPay, Account2Account (A2A), Stripe: In most cases, payments are sent instantly.
- Manual Bank Deposits: Orders are processed once the funds clear from your bank—this can take several hours or longer depending on your financial institution.
- OZOW or SiD EFT (South Africa): Rates are locked immediately upon initiation, and orders are sent as soon as funds arrive in our account—typically within 2 minutes to 2 days.
- Immediate Bank Transfers (South Africa): For fastest results, select “immediate payment,” which usually takes just 1–2 hours.
Keep in mind that payments made outside of business hours—including evenings, weekends, or public holidays—are processed on the next working day.
Why Is My Buy Order Taking Longer Than Expected?
Delays in buy orders are often beyond our control and typically stem from two main sources: bank processing policies and blockchain network congestion.
Many banks, particularly in New Zealand and Australia, classify cryptocurrency-related transactions as high-risk. As a result, these transactions undergo additional scrutiny before being approved. While this extra review enhances security, it can extend processing times—from several hours to up to two business days.
Banks like ANZ have been known to hold payments even after debiting your account. Although frustrating, rest assured that your exchange rate is locked in at the time of purchase, protecting you from market fluctuations during the delay.
Additionally, high traffic on blockchain networks such as Bitcoin can slow down confirmations. While Bitcoin blocks are mined approximately every 10 minutes, congestion can push actual confirmation times much higher.
Sell Orders: When Will I Receive My Funds?
Selling crypto should be just as seamless as buying it. Once we receive your cryptocurrency (at which point the rate is locked), your sell order enters the payout queue.
In most cases, you’ll receive your NZD or local currency on the same day.
The Payout Process Breakdown
- You send crypto to our designated wallet.
- We confirm receipt and lock in the exchange rate.
- Your order is queued for fiat payout.
- Funds are transferred to your bank account.
While our system processes the transaction promptly, delays may appear due to banking system lags. The crypto-to-fiat conversion might be complete on our end, but your bank could take additional time to reflect the deposit.
Why Is My Sell Order Taking Longer Than Expected?
Common causes include:
- Network Congestion: High volume on blockchains like Ethereum or Bitcoin can delay transaction confirmations.
- Bank Processing Delays: Just like with buy orders, banks may delay incoming transfers they flag as crypto-related.
- Incomplete Transaction Details: Missing memos, incorrect addresses, or insufficient confirmations can slow things down.
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Cryptocurrency Transaction & Swap Delays: What You Need to Know
Even when orders are processed correctly, underlying blockchain mechanics can cause perceived delays in transactions or swaps.
Common Causes of Delays
Network Congestion
High transaction volumes across networks like Bitcoin or Ethereum lead to longer confirmation times. During peak usage, fees may also rise as users compete for block space.
Payment Processing Issues
While platforms aim for real-time processing, technical glitches or maintenance can momentarily halt transactions. For example, XRP transactions are typically instant—but network issues or validation requirements can introduce short delays.
Order Holds During Swaps
If you're swapping one asset for another (e.g., USDC to XRP), the system may temporarily hold your order. This is a protective measure to prevent losses due to rate fluctuations. While on hold, your exchange rate remains locked until resolution.
Frequently Asked Questions
Q: Are my exchange rates guaranteed once I initiate a buy order?
A: Yes. Your rate is locked in at the moment you place the order—even if bank processing takes time.
Q: Why does my USDC to XRP swap show as a “send” in my wallet?
A: This indicates the system has initiated the swap but may be holding it temporarily due to network or validation checks. Your rate remains protected during this period.
Q: Can I speed up my transaction if it’s stuck?
A: Not directly—but choosing faster payment methods (like instant bank transfers) and avoiding high-traffic times helps prevent delays.
Q: Do weekends affect processing times?
A: Yes. Payments submitted on weekends or holidays are processed on the next business day.
Q: What should I do if my transaction doesn’t complete?
A: First, check your wallet and bank statements. If unresolved within 10 working days, contact support with full details including transaction IDs and screenshots.
Q: Are certain banks more likely to delay crypto payments?
A: Yes. Banks like ANZ often apply additional reviews to crypto-related transactions, which can extend processing by up to two days.
How to Avoid Payment Delays
To ensure fast and smooth transactions:
- Use instant payment methods like POLiPay, Online Eftpos, or immediate bank transfers.
- Avoid submitting payments late in the day, on weekends, or during public holidays.
- Confirm your bank allows crypto transactions without excessive restrictions.
- For South African users, opt for OZOW or immediate EFT options.
- Always double-check wallet addresses and required memo fields when sending crypto.
Regional Considerations
New Zealand & Australia
Financial institutions here frequently flag crypto transactions for review. The actual transfer speed depends on:
- Your bank’s internal processing time
- Blockchain network congestion
- Whether additional compliance checks are triggered
Using instant payment rails minimizes exposure to these delays.
South Africa
With OZOW and SiD EFT, rates are locked instantly. To get the fastest service:
- Use immediate bank transfers
- Choose payment options labeled “same-day” or “real-time”
- Notify support within 10 working days if issues arise
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By understanding the interplay between banking systems and blockchain networks, you can better anticipate processing times and reduce frustration. While some delays are unavoidable due to external factors, using optimized payment methods and staying informed will keep your crypto experience fast and secure.