Updated on 15 June 2021

Your cryptocurrency deposit needs to receive a number of confirmations on the blockchain before the fund gets credited to your Liquid account. These are used to avoid the risks of double-spending and ensure that the transactions cannot be reversed.

You can check the number of confirmations by copy-pasting the hash in the Explorer search field. The time required for a deposit to be confirmed also varies based on a number of factors including:

As a general rule, the amount of time for a crypto currency deposit to a Liquid wallet to be confirmed is shown in the table below:

When you transfer your crypto from one wallet to another, the transaction needs to be verified by the network, and then stays in a mempool to be included in a block by miners. The transaction at this stage is unconfirmed. It will be confirmed when the block it is in has been added to the blockchain through mining. Once done, your transaction will have one confirmation. When another successfully mined block gets added, your transaction will have two confirmations, and so on.

Liquid strives to improve user experience and that includes providing indication on your crypto deposits sent to a Liquid Wallet soon after the transaction is in the mempool. Find out more about it on our Liquid Lightning blog post.