What is the meaning of 'pending settlement' in the context of digital currency transactions?

3 answers

• Jan 09, 2022 · 3 years ago
  When a digital currency transaction is marked as 'pending settlement', it means that the transaction has been initiated but has not yet been confirmed on the blockchain. This usually happens when the transaction is waiting to be included in a block and requires a certain number of confirmations to be considered fully settled. During this time, the transaction is still in progress and can be reversed or canceled. Once the transaction is confirmed and settled, the status will change from 'pending settlement' to 'settled'.
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• Jan 09, 2022 · 3 years ago
  So, 'pending settlement' in the context of digital currency transactions is like being in a queue. Your transaction is waiting for its turn to be processed and confirmed. It's like waiting in line at a busy coffee shop. You've placed your order, but you have to wait for the barista to make your coffee and call your name. Similarly, your transaction is waiting for the miners to include it in a block and validate it on the blockchain.
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• Jan 09, 2022 · 3 years ago
  When a digital currency transaction is labeled as 'pending settlement', it means that the transaction is being processed and is not yet finalized. This is a common status for transactions that have been submitted but are still awaiting confirmation on the blockchain. Once the transaction is confirmed by the network, it will be considered settled and the status will change accordingly. At BYDFi, we strive to ensure that transactions are settled as quickly as possible to provide a seamless trading experience for our users.
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