When sending cryptocurrencies from your Bitpanda wallet to another wallet, occasionally, you may encounter situations where the funds don't appear in the intended destination. This article will guide you through the steps to investigate and resolve such issues.
How does a confirmation process work?
Cryptocurrency withdrawals from your Bitpanda wallet are processed automatically once you confirm them via email. It's crucial to understand that once a transaction is confirmed via email, it cannot be reversed. This is a fundamental aspect of cryptocurrency transactions.
Using a blockchain explorer
You can use a blockchain explorer to determine whether your transaction occurred successfully.
Here's how:
- Locate the transaction ID (hash) for your specific transaction in your Bitpanda wallet's details. This ID is a unique identifier for your transaction.
- You can also search for the wallet address of your recipient wallet in the blockchain explorer. This will display all transactions to and from that address.
If the blockchain explorer shows that the network has already confirmed the transaction, it was successful.
In this case, the problem probably stems from the destination wallet or exchange. Contact their support for assistance, but remember that cryptocurrency transactions are irreversible, and Bitpanda doesn't offer refunds for such transactions.
Note: Cryptocurrency wallet addresses are designed to be protected against typing errors through checksums. However, it is possible to accidentally send funds to a valid address of the same cryptocurrency. Be cautious to verify the accuracy of the recipient's wallet address before confirming any transaction.
In summary:
- The sender entity is responsible to initiate the transaction and make sure it is delivered to the blockchain.
- The advantage of the crypto transactions is that everyone has access to it and can check the status on the explorers.
- Once the transaction has been confirmed a few times, then it's the responsibility of the receiving entity to verify it.
Contact us
If your coins have left your Bitpanda wallet, but no transaction has occurred, check the status of relevant cryptocurrency on our status page. If it’s “Operational” and the transaction status remains “Pending” after 48 hours, then please contact us. To speed up the process, provide us with the PID (Payment ID) and the receiving address related to the transaction.