A Coinbase transaction only gets completed until it has gone through several network confirmations and sometimes, due to delayed confirmations, your transactions may show as “Pending”. Thus, in such situations, a lot of users go through a state of confusion which makes them think about how to undergo the Coinbase cancel pending transaction process.
As we all know, Coinbase is a highly secured and trusted platform that allows users to make instant crypto transactions. However, there could be times when you are not able to undergo these transactions and it may show up as “pending” and there could be diverse reasons behind the same.
On the other hand, when you are a new user and this happens with you for the first time and you continue to see the transaction as pending for a long. So, in that case, you might want to immediately cancel that pending transaction.
Therefore, through this article, we are going to let you know if you can cancel an ongoing transaction on Coinbase or not. If yes, then what would be the procedure to do that?
Why is Coinbase pending transaction?
Now, if you have a query in your mind and you wish to know why my Coinbase transaction is pending, then you should note that your transaction could be pending due to several reasons. One main reason why your transaction may not be completed could be due to the pending confirmation from the involved networks. Therefore, you may need to wait for longer than usual to get the transactions completed.
Therefore, in this scenario, what you can do is keep checking after some time or let the Coinbase support team know about it. Otherwise, try finding out ways for Coinbase cancel pending transaction.
What is Coinbase Transaction?
When we say Coinbase transaction, by that, we mean the very first transaction that is recorded in a block and each transaction is unique in its own way. Another important thing that you need to note about this is that these unique transactions are created by miners and then these miners are rewarded for doing the same. Apart from this, the fee that is charged to the users is also collected within the same transaction.
After knowing this, let us now try to figure out if we can actually cancel a Coinbase transaction or not.
Can you Coinbase cancel pending bank transfer?
Not only transactions made through Coinbase, but all cryptocurrency transactions go through a highly secured digital protocol, and due to this nature of the transactions, it is impossible to cancel them. Therefore, once you have canceled the transaction, it cannot be canceled in any manner that you do. Thus, if you ever see a pending status for the transaction that you have made, there is no way you can cancel it.
Therefore, all you can do is wait for some time and let the transaction complete. In addition to this, if you find out that the transaction is showing pending for a very long time, you may contact the Coinbase support team and let them know about the problem you are facing.
How long are Coinbase transactions pending?
Well, all the transactions made through Coinbase are completed initiated, and completed instantly. However, sometimes, due to network-related issues, these transactions may go into the “Pending” state. But, these pending transactions may get completed within one hour. On the other hand, if it takes longer than that, you might want need to go through the procedure to Coinbase cancel pending transaction.
What causes Coinbase pending deposit?
If you have made a deposit to your Coinbase account and now what you see is that the transaction is showing pending, then you might be interested to know the reason behind it.
As I have already mentioned above, all the Coinbase transactions go through a set protocol which means a transaction would only get completed until each server or network protocol has confirmed it. However, there is nothing to worry about it and the transaction would be completed within an hour or so. Moving on, let us now shift our focus towards understanding how do you check the transaction history of your Coinbase account.
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How to check Coinbase transaction history?
In case you are keen to know about checking the transaction history of your Coinbase account, then you can follow a few quick steps that I have listed below that would definitely help you in checking your Coinbase transaction history, eventually letting you know if your transactions are pending or complete. Meanwhile, let us have a look at the steps to check the transaction history:
- To initiate the procedure, you first need to log in to your Coinbase account
- Once you are logged in, go to the “My Orders and My Portfolios” section of your account
- This option can be easily found on the homepage of Coinbase account
- This will show you all the open as well as filled orders on Coinbase
How do you Coinbase cancel pending transaction?
If it is more than longer and your transaction is constantly showing pending, then there is nothing you can do about it but to take help from the Coinbase support team for the same. To know how to contact the Coinbase support team or the same, you can go to the https://help.coinbase.com/en/contact-us webpage and find out different ways to connect yourself to them.
In today’s blog post, we have discussed the most relevant details about canceling a pending Coinbase transaction. After reading through this post, it is clear that all the Coinbase transactions are instantaneous and the pending transactions would also get completed within one hour. However, if the Coinbase servers are unable to sync to the networks, then you may face complications with it. In that case, you can let the Coinbase team know about the problem you are facing and they would help you with that.