What are the common reasons for a declined transaction in the cryptocurrency market?

1 answers

• Mar 22, 2022 · 3 years ago
  At BYDFi, we understand that declined transactions can be frustrating. One common reason for a declined transaction is insufficient gas fees. Gas fees are required to process transactions on the Ethereum network, and if the sender does not provide enough gas fees, the transaction may fail. Another reason could be a temporary issue with the blockchain network itself. In such cases, it's best to wait for the network to stabilize and try the transaction again. Additionally, some transactions may be flagged as potentially fraudulent or suspicious by our security systems. This is done to protect our users and maintain the integrity of our platform. If a transaction is declined for this reason, we recommend reaching out to our support team for further assistance and verification.
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