Crypto transactions explained: statuses and why a transaction can be pending
Every crypto transaction has a status that tells you where it is. Most transactions move from Scheduled to Completed on their own, and you get a notification when a buy, sell or swap order is completed.
Where to see the status
In the app
- Open the Crypto tab.
- Under Recent transactions, tap See all transactions.
- Tap a transaction to open Crypto transaction details. The status is shown under the amount.
On the web
- Open Crypto wallet from the menu.
- Find the transaction in the Crypto transactions table.
- The Status column shows its status.
What each status means
The app and the web use slightly different labels for some statuses.
| In the app | On the web | What it means |
|---|---|---|
| Scheduled | Scheduled | You confirmed the transaction and it's waiting in the queue to be processed. It moves on automatically. |
| Processing | In progress | The transaction is being carried out, for example your buy, sell or swap order is being executed, or your euros are on their way to your IBAN account. |
| Completed | Completed | The transaction finished successfully and your balances are updated. |
| Failed | Failed | The transaction didn't go through. No funds were deducted. |
| Failed | Unsuccessfully verified | We couldn't verify your authorisation of the transaction, so it was never carried out. No funds were deducted. |
On the web you may also see On hold. This appears when you top up your crypto wallet's FIAT balance from your IBAN account, while the bank transfer is on its way to your crypto wallet.
Crypto you receive appears once it's confirmed
When someone sends crypto to your crypto wallet, it shows up in your transactions only after BitGo has confirmed the transfer on the blockchain. It then appears straight away as Completed. Until then you won't see it, even if the sender's wallet already shows the transfer as sent.
As the app says: deposits may not be instant and could be subject to network delays. To follow a transfer on the blockchain, see TXID and blockchain confirmations: track a crypto transfer.
Why a transaction can stay pending
- Blockchain confirmations. A transfer must be included in a block and then confirmed by further blocks. Some networks are much slower than others. See Blockchain networks explained.
- Network congestion. When many people use a network at the same time, transfers wait longer to be added to a block, and those with lower network fees can wait longest.
- Compliance checks. Under the EU Transfer of Funds Regulation (the "Travel Rule"), BitGo must collect and check information about the sender and recipient of crypto transfers. BitGo may pause or delay a transfer while it does this, and normally tells you if it does.
- Bank transfers. A top-up of your FIAT balance and a withdrawal of euros to your IBAN account depend on a bank transfer. The app shows Up to 1 business day for a withdrawal to your IBAN account.
- Your first withdrawal to your IBAN account. BitGo first verifies your IBAN, so the first withdrawal can take up to 48 hours longer to arrive.
What you can do
- Wait a little and check again. The status updates automatically.
- Before you try again, check your balances and your transactions, so you don't make the same transaction twice.
- If a transaction failed, check that you have enough balance, including any fees, then start it again.
- If a transaction keeps failing, or stays pending much longer than expected, open its details in the app and tap Contact support under Questions about this transaction?, or see How to contact support.
Good to know
- Buying, selling and swapping happen inside your crypto wallet, so they don't have a blockchain TXID. Crypto you receive from an external wallet does.
- Crypto transfers on the blockchain are irreversible. Always check the address and the network before you send crypto to your crypto wallet.
- For Safe2transact's fees, see Pricing.
Crypto-asset services are provided by BitGo Europe GmbH, a crypto-asset service provider authorised under the Markets in Crypto-Assets Regulation (MiCA). Safe2transact does not provide crypto-asset services. Crypto-assets are volatile: their value can go down as well as up, you may lose part or all of the amount you buy, and they are not covered by deposit guarantee or investor compensation schemes.
