1. The deposit amount is less than the minimum deposit amount
If the deposited amount is less than the minimum deposit amount, unfortunately, Phemex will not be able to assist you to recover the deposit.
Different cryptocurrencies have different minimum deposit amounts. Please make sure to check each specific case on the Deposit Page or Fee Page.
2. Unconfirmed Transaction on the Blockchain
Each cryptocurrency and blockchain network has its own transaction confirmation time and thus a different estimated arrival time. For example, BTC, on the BTC chain, will be deposited after 2 network confirmations ≈ 20 min. You can see each specific case on the Deposit Page:
If the transaction you have sent is still unconfirmed, the best course of action is to simply be patient - it will likely be confirmed relatively soon.
3. Deposit to contract account
Phemex allows users to credit both on-chain deposits and cryptocurrencies purchased with fiat to either the Spot Wallet or the Contract Trade Account. If you're having trouble locating your deposit, please follow these steps to determine where it landed:
- Visit the Phemex Deposit Page.
- Select the corresponding cryptocurrency from the dropdown menu.
- Scroll down to check the deposit options and see which account you selected (Spot Wallet or Contract Trade Account).
Additionally, you can refer to your Deposit History by scrolling down the page. This section will clearly indicate the target account for each transaction.
4. Security Check Failed
On Phemex, every crypto deposit (and withdrawal) undergoes a thorough security check process. As a result, you may notice your deposit or withdrawal status as 'Security Checking.' However, this status will typically update to either 'Success' or 'Security Check Failed' within 5-10 minutes.
If the status of your deposit order (deposit history) is “Security Check Failed”, kindly reach out to support@phemex.zendesk.com from your registered account email with the following information:
- Registered email address or UID
- TXID of the deposit (link or text - please DO NOT provide a screenshot)
- Mention that the deposit shows “security check failed”
5. Deposit Suspended
On-chain deposits may occasionally be temporarily suspended due to system maintenance. This can occur during scheduled software or hardware upgrades, network congestion, or events like a hard fork. During these periods, Phemex prioritizes the security and integrity of your assets to ensure a smooth and safe experience.
If your on-chain deposit is currently suspended, please be assured that our team is working diligently to restore the service as quickly as possible. We recommend checking back periodically or if needed, consider using an alternative cryptocurrency for your transactions. Thank you for your patience and understanding as we work to maintain the highest standards of service.
Please reach out to Phemex Support (support@phemex.zendesk.com) from the email associated with your Phemex account where the deposit is directed to. To help us assist you more effectively, kindly provide the deposited coin/token, network, amount, and the transaction hash. Our support team will review the issue and provide further assistance.
6. On-chain Deposit Delayed
Your deposit might experience delays due to a number of different reasons, including:
1.) Network Congestion: High traffic on the blockchain network can slow down transaction processing times.
2.) Insufficient Transaction Fees: If the transaction fee is too low, it may take longer for the transaction to be processed.
3.) Node Upgrade: A blockchain node upgrade is a necessary process to improve the performance, security, or functionality of the blockchain network. During this time, the nodes that validate and process transactions may experience temporary downtime or require re-synchronization with the network. This can cause delays in crediting deposits, as transactions may take longer to confirm or be temporarily unprocessed.
4.) Wallet Maintenance: Phemex may occasionally undergo wallet maintenance to ensure the highest levels of security and operational efficiency for our users. During this time, wallet services such as deposits and withdrawals may be temporarily unavailable or experience slight delays.
5.) Deposit Status is Stuck: On the Phemex Deposit Page, you can follow the status of your deposit. To ensure the safety of your funds, all deposits undergo a security check process which usually lasts for 10 minutes before changing to "success" status.In case you are experiencing an extended delay or if the status of your deposit "Security Checking" beyond 10 minutes, please contact our Customer Support at support@phemex.zendesk.com using the email address associated with the Phemex account where the deposit is directed to and provide:
- UID of the Phemex account
- TXID of the deposit (link or text - please DO NOT provide a screenshot)
Please reach out to Phemex Support (support@phemex.zendesk.com) from the email associated with your Phemex account where the deposit is directed to. To help us assist you more effectively, kindly provide the deposited coin/token, network, amount, and the transaction hash. Our support team will review the issue and provide further assistance.
7. Fiat Deposit Delayed
After you make the wire transfer, please wait patiently for the funds to arrive in your Phemex fiat account. Please note that it generally takes 1 – 3 working days for your funds to arrive.
If the deposit is delayed, please contact Legend Trading (submit a ticket) to receive direct assistance. Alternatively, please reach out to Phemex Support (support@phemex.zendesk.com) from the email associated with your Phemex account where the deposit is directed to. To help us assist you more effectively, kindly provide the deposited coin/token, network, amount, and the transaction hash. Our support team will review the issue and provide further assistance.
8. My Purchased Crypto Has Not Been Credited
The credit time varies depending on the payment method or third-party service you used. Please refer to the table below for detailed information.
Please reach out to Phemex Support (support@phemex.zendesk.com) from the email associated with your Phemex account where the deposit is directed to. To help us assist you more effectively, kindly provide the deposited coin/token, network, amount, and the transaction hash. Our support team will review the issue and provide further assistance.
