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Why Hasn’t My Deposit Been Credited Yet? (App)

Did you perform a deposit but it has not been credited yet? It happens. Here’s what could have possibly taken place:

When depositing crypto, there are 3 steps in the process of moving funds from an external platform to Phemex.

  • Withdrawing the funds from the external platform
  • Blockchain network confirmation
  • Phemex crediting the funds your spot account

What this means is that the asset withdrawal marked will be marked as “Success” on the platform you’re withdrawing your crypto from. The transaction was successfully broadcast to the blockchain network. However, it might still take some time for that particular transaction to be fully confirmed and credited to the platform you’re withdrawing your crypto to. The amount of required “network confirmations” varies for different blockchains.

You can also view their deposit status by clicking the TXID in the Deposit History to view the status in the blockchain. If its pending, please be patient and wait as the process can sometimes take time.

Network Confirm refers to the network consensus needed to verify the validity of a transaction. Once verified, the transaction will be included in a block on the blockchain. When you make a deposit, the system will submit it to the rest of the network to confirm. Your deposit will be successfully credited once the transaction meets the minimum required network confirmation number specified by the Binance system. Please note that the minimum requirement is different for each cryptocurrency. The confirmation time varies and can take up to days to confirm, please wait patiently for it to be credited.

      When a deposit is pending, you can see the number of  remaining networks:

                 

If no information can be found in the deposit history, there is a possibility that  you have perhaps made a mistake in the deposit steps.

  1. Kindly confirm that the same information of cryptos and Network at platform that you want to deposit.
  2. Make sure that you use the correct address that is from Phemex.
  3. Check that the tag/memo is correct regarding the deposit of several cryptos.

 


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