Fast Bitcoin Deposits are Now Even Faster on Liquid
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For the first time on Liquid, traders will now start seeing their Bitcoin deposits show in their accounts as soon as the transaction is published on the network with zero block confirmations.
We already pushed the bar with Bitcoin deposits when we introduced 1-block confirmations last year. Now we’ve gone a step farther with even faster BTC deposits of less than 10 seconds – setting a new standard for crypto currency exchanges.
Speeding up time
Hundreds of thousands of Bitcoin transactions happen every day. But waiting for a Bitcoin deposit to confirm can be excruciating, leaving traders stuck on the sidelines while the market moves. Time is of the essence, especially in crypto.
Most exchanges confirm Bitcoin deposits after around 3 blocks, which takes about 30 minutes on average and can be significantly longer when the network is busy. It’s a long time to wait. The Bitcoin charts won’t wait around for you to catch up.
That’s not a problem for Liquid customers. The technology means we can reflect Bitcoin deposits after zero block confirmations with an 80% success rate. The majority of traders will be able to start trading their Bitcoin sent to Liquid within 6-10 seconds.
Sometimes, in about 20% of cases, a sender will make a deposit with an insufficient mining fee. When this happens, deposits will normally be confirmed after 1 block confirmation, so you’re still getting your Bitcoin much quicker than on most exchanges.
How does it work?
The cutting-edge technology we have in place analyzes crypto transactions as they are published on the network and within a few seconds is capable of determining if the transaction can be confirmed instantly.
This is done through analysis of both static information included with the transaction as well as monitoring the propagation of the transaction across the network.
The static information includes all fields used to create a transaction as well has historical aspects, while the propagation tools ensure the transaction has been vastly distributed and asses if there is any nefarious activity.
How do I get access to instant BTC deposits on Liquid?
To ensure instant deposit recognition please use high priority miner fee options when depositing.
What does this cost?
There are no additional costs for this service
You’ve got the edge
This is just the latest in a number of small but significant enhancements we’ve made to Liquid to improve customer experience and deliver the best possible product for our users. Changes like this give Liquid an edge over our competitors.
As a Liquid customer, you too now have another competitive advantage over traders on other platforms. With this benefit, you can capitalize on market movements without needing to slow down.
Deposit Bitcoin and get trading, all within a few seconds.