We understand that time is critically important when it comes to newly deposited funds being available for trading. While some factors such as network congestion on the Ethereum network during peak periods are outside our control, Ethfinex does offer an expedited deposit process with reduced confirmation requirements for certain account types.
For Ethereum as well as ERC20 tokens, deposits require the following number of confirmations:
Unverified User: 25 confirmations
Verified User: 20 confirmations
Investor: 10 confirmations
Confirmations are the number of times the cryptocurrency in question must be confirmed by its network prior to being considered valid. The duration a confirmation takes can vary beyond Ethfinex's control and depends on the block times of the overall network.
Typically blocks occur every 15 seconds at the moment on the Ethereum blockchain, which makes the average confirmation time for an unverified user approximately 6 or 7 minutes.
The vast majority of delays in cryptocurrency deposits are due to inappropriately assessed transaction fees by the depositor.
Withdrawals are processed by Ethfinex with a higher than average gas price, adjusted based on the network conditions, to ensure you will always receive fast withdrawals. Addresses outside of Ethfinex often set their confirmation threshold differently based on their adversity to risk. Always review confirmation requirements of those in control of receiving addresses.
Please also see our Greenlane Conditions.