I deposited funds into my Nash account but they haven't been credited yet.
Nash is a non-custodial exchange that lets you interact directly with a number of blockchain networks. The speed of withdrawals and deposits hence depends on the transaction speed of the network in question, not our internal system. Ethereum is able to process about twenty transactions per second. Thus, ETH and ERC-20 deposits are much faster than Bitcoin, which processes between three and seven transactions per second.
For a deposit to your account to be confirmed, it will need a minimum number of confirmations to be deemed a valid transaction by the network. This refers to the number of blocks added to the blockchain since your transaction was processed. This is three confirmations in the case of Bitcoin, but is higher for other chains.
The time it takes for your transaction to arrive in your account can depend on several factors, including:
- Network fee. Bitcoin and similar cryptocurrencies require a small network fee to send a transaction. This fee is used to compensate the miners who validate the transaction. If the transaction fee is very low on a specific transaction, miners may choose to rank the transaction lower on their transaction validation list.
- The volume of transactions on a network. It is possible that a network is flooded with more transactions at once than it is able to process/validate. All incoming transactions will be pooled until the network is able to process current transactions.
For platforms like NEO, transactions are generally free up to a certain limit. You do not need to pay a network fee to send a NEO or NEP-5 transaction. However, a transaction with no network fee is usually slower than one with a fee. For faster deposits of NEO and NEP-5 tokens, it is recommended that you add at least one drop of GAS to your transaction (the NEO network fee is paid using the GAS asset).