This is the first in a series of improvements to the way we are handling payments behind the scenes. We are aware users have had issues with withdrawals in the past, resulting in pending withdrawals that never complete, and this prepares us to make the necessary changes to address it. While your balance may take longer to confirm now, please be assured these changes will improve the reliability and stability of our payment system going forward.
What are confirmed and unconfirmed balances?
Confirmed balance is the sum of your withdrawable holdings. Unconfirmed balance is the sum of your non-withdrawable holdings that are in the process of being exchanged into your payment coin. Your unconfirmed balance is an estimate of what you will receive when your funds have been exchanged.
Why does my balance remain unconfirmed for so long?
Since we have to reach a high enough volume to trade to keep the fees low, you may have to wait for a large enough volume to accrue before we proceed with an exchange. Coins which are less popular on our platform could take longer to accrue – and therefore, your balance taking longer to be confirmed – compared to more commonly mined coins.
Why does my confirmed balance differ from my unconfirmed balance?
As your unconfirmed balance is yet to be exchanged to your chosen payout coin, the amount is recorded in its original mined currency. We multiply this by a real-time exchange rate to estimate the amount of confirmed balance you will receive at the end of the exchange. As this is only an estimate, your unconfirmed balance will fluctuate with exchange rates, and differ slightly from the amount received once your balance has been exchanged.
Does this affect me if I’ve opted out of automated exchanging?
No. If you’ve chosen not to automatically exchange your mined coins, you will not be affected by this change.
How can I opt out of automated exchanging?
If you would like to opt out of automated exchanging, you can do this by visiting your organisation’s Payment settings page, unchecking Automatically exchange mined coins, and clicking Save.
Please be aware that making this change will result in your balance potentially being split across multiple of your wallets, and need withdrawing separately. This is particularly of note for users who have set their devices to automatically switch to mine most profitable coins.
