1. I withdrew from COVEST to another exchange/wallet, but I haven't received the asset yet.
You have to go through the following three steps to transfer funds from your Covest account to another exchange or wallet.
- "COVEST" approves withdrawal.
- Check the blockchain network.
- Deposit to the platform.
In general, a transaction ID (TxID) is created within 30-60 minutes, indicating that the Covest successfully sent the withdrawal transaction.
However, it may still take time for certain transactions to be confirmed and longer for funds to finally be deposited into the target wallet. The amount of "network verification" required varies from blockchain to blockchain.
For example:
- Michael decides to withdraw 2BTC from Covest into his personal wallet. He has to wait for the Covest to create and send a transaction after confirming the request.
- As soon as a transaction is created, Michael can view the Transaction ID (TxID) on the Covest Wallet page. At this point, the transaction is suspended (not confirmed) and 2 BTC is temporarily frozen.
- When everything is processed, check the transaction on the network, and Michael receives a BTC in his personal wallet after checking the network twice.
- In this example, you had to wait for two network checks until a deposit appeared in your wallet, but the amount of confirmation you needed depends on your wallet or exchange.
The possibility of network congestion can greatly delay transaction processing. You can check the asset transfer status using the transaction ID (TxID) in the blockchain explorer
Memo:
- If an unidentified transaction is displayed on the blockchain Explorer, please wait until the verification process is completed. It depends on the blockchain network.
- If the blockchain explorer shows that the transaction has already been verified, it means that the funds have been sent successfully and cannot provide additional support for this issue, you must contact the owner/support team at your destination address for further help.
- If the TxID is not generated after 6 hours after clicking the OK button in the email message, ask the customer center for help and attach a screenshot of the withdrawal details of the transaction. Make sure you have provided the above details so that the customer service representative can help you quickly.
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