Articles on: Deposits

What is a Sweep Confirmation?

There are two components of getting an IOTA deposit on CoinFalcon, the user deposit confirmation and the sweep confirmation. The sweep is a transfer of IOTA funds from the users deposit address to our internal addresses. This action is specific to IOTA and is a crucial security mechanism as not sweeping user funds can result in a security vulnerability.

The time it takes for the sweep to happen is dependent on the network speed at the given time of the transfer and we cannot credit a users balance until the sweep is confirmed on the network. You can always view the sweep progress in your deposit history or by clicking on the sweep transaction ID. Once the sweep is confirmed, users will receive an email that it has been credited to their account.

For a more technical explanation of the sweep and why it is necessary, check out this wiki article.

Updated on: 12/12/2017

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