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Please refresh your wallet by pulling down the screen on the home page to sync the latest balances and transactions.
Crypto received via blockchain network requires confirmation and the confirmation speed depends on how much your sender is willing to pay for the network fee. Your balance will be updated as soon as the first confirmation is received for the transaction.
Crypto received via blockchain network requires network fee and is usually deducted directly from the send amount.
You may view the transaction on Explorer to see the network fee involved by tapping on [View Status on Explorer] in the transaction details screen.
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I specialize in cryptocurrency and blockchain technology with a comprehensive understanding of how transactions are processed and confirmed within these networks. My expertise is evidenced by a deep understanding of the underlying concepts, mechanisms, and practical applications within this domain.
The provided article touches upon various fundamental concepts in the realm of cryptocurrency transactions and blockchain technology:
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Wallet Synchronization: Wallets need to synchronize with the blockchain network to reflect the most recent balances and transactions. This is achieved by refreshing the wallet, typically done by pulling down the screen on the home page of the app.
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Confirmation Speed and Network Fees: Transactions on a blockchain network require confirmation, and the speed of confirmation depends on the network fee paid by the sender. Higher fees often lead to faster confirmations. Upon the first confirmation, the recipient's balance gets updated accordingly.
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Cryptocurrency Receipt Process: When receiving cryptocurrencies via a blockchain network, there's usually a network fee involved. This fee is commonly deducted directly from the received amount. Users can monitor these transactions, including associated fees, by using an Explorer and tapping on "View Status on Explorer" in the transaction details.
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Specific Cryptocurrencies: The article mentions receiving BTC (Bitcoin), XRP/XLM (Ripple/Stellar), and ERC-20 tokens. Each of these operates on its own blockchain or network and may have different confirmation times and fee structures.
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DeFi Wallet Balances: There might be instances where balances don't immediately reflect in a DeFi (Decentralized Finance) wallet. This could be due to various reasons such as network congestion, pending transactions, or other technical issues.
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Related Articles: The article provides additional resources and information on various topics related to cryptocurrency transactions within the Crypto.com app. Topics covered include depositing crypto, initiating send transactions (with emphasis on confirmation speed and network fees), specific guides for sending and receiving XRP and XLM, understanding ERC-20 tokens, and troubleshooting balance display issues in DeFi wallets.
The concepts covered in the article cater to beginners as well as those seeking more advanced knowledge in managing cryptocurrency transactions, understanding fees, and navigating blockchain networks within the Crypto.com app.
