FAQs

A memo is a combination of digits and letters required to assign Stellar to a certain Stellar wallet user. Memos are used in Stellar and EOS wallets and indicated right here. if you want to buy XLM, make sure that you've specified a correct memo while putting in a wallet address. A message is an additional tag that is obligatory for certain XEM wallets. When you send or receive XEM, make sure that you input a message if required. A destination tag is a short complementary combination of characters required for certain XRP wallets. When buying XRP, make sure that you have specified a destination tag, if required. Likewise, when you send XRP to us, do not forget to include the destination tag, provided near the address you should send to.
If your wallet address is recognized as invalid, it is usually for one of the following reasons: Make sure your wallet address matches the chosen cryptocurrency. You haven't updated or synced your wallet with a blockchain yet. There was a typo or character missing in the address you provided. Make sure that the address you specify matches the actual address of your wallet.
Unfortunately the coins will be lost in that case as there will be no swap token, recipient address and transaction id.
Every Blockchain has its own network fees and every trade pairs has its own minimum liquidity availability threshold, therefore depending upon the value of these two the minimum amount varies.
If an amount is very low, make sure that it will cover all costs required by a blockchain. This means that the amount you are going to send and the amount you are going to receive should be enough to cover input and output network fees taken by a blockchain.
Each time any amount of cryptocurrency is sent or exchanged, the currency goes through a blockchain. This process requires a small fee called a ‘network fee’. This fee varies for every cryptocurrency .It is a commission that a blockchain takes from the amount sent in each currency. It is critical to make sure that the amount you want to exchange on Flip is enough to cover the exchange fees for both the process of sending your original currency and receiving the new currency you want to buy. If the sent amount is too low to cover the fees of the network, the transaction will not go through and your funds will be lost.
Network fee is not deducted by Flip, it is paid to the blockchain network from the final amount send to the recipient address.
No, the senders address for a particular token can change, therefore we advise you to please confirm the sender address for every transaction and match it with the transaction id prior to sending your tokens.
In any transaction there is always a sender and a recipient. The recipient’s address is the wallet address where you will receive the currency you buy. For example, if you want to buy Bitcoin (BTC), you should specify A BTC wallet address in the recipient field, and Flip will send coins to this address once the transaction is complete.
There are several reasons this might be happening: Wrong coin is send to the wrong wallet. Eg BSV is send for a BCH transaction. Wrong or missing XEM message. While sending XEM, make sure that you've put the correct message. It's indicated here and looks like a combination of digits and letters. In case you indicated or forgot to put the valid destination tag for XRP or the valid memo for EOS/Stellar, the transaction won't be processed automatically and you'll have to contact our support team in order for your transaction to be either pushed or refunded manually. Other internal errors. Even our well-made system can experience lag or other internal issues. If you think this may be the case, please report it to [email protected]
As a rule our transactions take 5-30 minutes to be processed. It your transaction takes longer, this could be due to a variety of factors, including: • Blockchain overload. There are many transactions waiting to go through, including yours. This issue occurs on the Bitcoin and Bitcoin-based blockchains. Unfortunately, the only thing to do is wait. Flip has no control over a blockchain overload. • Coin updates. We may turn off some coins to update a client. This can take some time. You will get your money as soon as we turn it back on. • DDoS attacks. Every platform is subject to such attacks. Unfortunately, in this case the only thing to do is wait it out.
Our transactions take 5-30 minutes to be processed. If a transaction is large (worth over 1 BTC), processing may take longer, depending on the size of your transaction and blockchain capacity.
Blockchain transactions take time to be processed (usually 5-30 minutes). Given the volatility of cryptocurrencies, the exchange rate is subject to change during the processing time, which means the final rate may be slightly different from what you expected.
We don’t fix exchange rates because of the volatile nature of cryptocurrency: the rate of any currency can fluctuate by the minute. This results in final rate higher or lower than the estimated rate. This change can be between 0.1-2%. Keeping the rates fixed would require us to cover market risks and currency volatility, which as a result would make our commission fee much higher. Instead, Flip charges quite a low commission fee (0.5%) for crypto-to-crypto swaps and offers the best available rate.
Flip is part of Qoinup India, and hence its terms and conditions and jurisdiction is different to Qoinup.
Flip and its partners use a trading algorithm is integrated into the largest cryptocurrency exchange platforms, including Binance, Poloniex, Bittrex, Coinbase etc and decentralised atomic swaps. In the span of milliseconds, bids are made and the best available rate and estimated rate is displayed on flip.The rates remain approximate until the transaction is actually made on the blockchain, which is why the exchange rate at the time of a transaction may differ slightly from the estimated rate that you see when you begin a transaction.

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