Common Problems When Transferring Crypto Assets


1. Send to the wrong address

Basically, if you type an invalid address (maybe not exist or in the wrong format), the O3 Wallet will detect it and let you know. So you can not go to the next step before entering the correct address. However, what if you enter an address that seems valid and transfer the assets successfully?
Because blockchain is immutable and cannot be changed easily, unfortunately, there is no way to retrieve this transaction. It will lead to permanent loss. Technically, the assets still exist on the blockchain, but you do not know who has the ‘right’ private key to access them. Therefore, we suggest entering the receipt address by scanning QR code or importing from the address book to reduce the risk of filling in the wrong address.

2. Insufficient transaction fee

The common situation is when you want to send GAS or NEO but the total amount including priority fee (GAS) is more than your balance, you will not be able to confirm this transaction. On the other hand, we support ETH and BTC recently. When you transfer these popular assets, make sure you add enough miner fee. Too low of miner fee used during the network congestion will increase the risk of a rejected transaction.

3. The asset I transfer from exchanges are not showing up

There are generally two steps from the exchange to the wallet, exchange platform auditing, and block network transfer. After you initiate a withdrawal application, it will be shown confirming on the transaction page. If the confirmation is completed, the asset withdrawn will be transferred to the address of the asset through the corresponding block network. This process is often fast, but it may delay because of too much transaction volume. If the exchange has not confirmed the transaction for a long time (for most exchanges it should not take much longer than 1 hour), we suggest asking the platform about the progress directly. If the exchange confirms, but the asset still has not arrived, you can check the progress through the blockchain browser.

4. I have enough assets, but still can not send them successfully

There are many reasons why transfers are not received for a long time. Stable Internet would be important especially in hot wallets, such as O3 Wallet. Sometimes the Internet is unstable or disconnected when switching to other WiFi. Additionally, avoid using public or unsafe WiFi during transactions because all transfer is based on the Internet. Please make sure you have a stable and secure Internet connected.
As a wallet service provider, we are working hard to ensure users’ assets safe and continue to improve wallet quality. If you have any problem with the transfer, you can do a quick check below or find us via O3 community and Telegram. Please note that all admin on Telegram will never pm you at first.

Quick checklist:

  • Check if you have the latest version of O3
  • Check if you have a correct receipt address
  • Check if you have enough assets to send (including priority/transaction fee)
  • Check if you have a stable and secure internet / WiFi
  • Check the blockchain browser to see your transaction progress

About Us

The earliest light wallet in Neo ecology. We have 100,000+ users in the European and North American markets, supporting ETH, ERC-20 tokens, NEO, ONT, and NEP5 assets. Currently building the world’s leading cross-chain wallet for popular assets such as BTC, ETH, NEO, etc.

Comments 2

Very good recommendations and a complete and simple guide to help users.

I congratulate you and thank you for the work you do for the community.

21.12.2020 16:01

Thank you:)

29.12.2020 10:32