Articles on: User FAQ

How long does it take to send/receive funds with Torus Wallet?

As soon as your transaction has enough confirmations, it should appear straight away in your Torus Wallet. However, heavy network traffic on the blockchain and congestion can cause delays. You can use the TxID (Transaction Hash) to check the transfer’s status using a blockchain explorer like BscScan for Binance Smart Chain or EtherScan for Ethereum or PolygonScan for Matic.

Torus will process your withdrawal as soon as requested, but each blockchain takes different amounts of time to confirm your transaction.

Confirmation time is defined as the time elapsed between the moment a blockchain transaction is submitted to the network and the time it is finally recorded into a confirmed block.

How to check if a transaction into or from Torus Wallet was successful?

If your transaction has enough successful confirmations, it should appear immediately in your Torus Wallet. You can check this further by navigating to > Activity > Transaction Activities.

Does Torus charge any fees for transfers?

No, Torus does not charge any fees for transfers.

Transferring tokens from your Torus Wallet to another wallet/exchange incurs fees ONLY to cover the cost of network transactions. For example, transferring Ether (ETH) requires Torus to send the token crypto to a different Wallet/Exchange on the blockchain. In other words, any transaction on Binance Smart Chain, Polygon, or Ethereum requires a gas fee that the user must pay to miners. Torus passes on the cost of this transaction fee to the user. Each blockchain has its own fee schedule, so your transfer fees will vary from token to token. Fees are also dynamic and change depending on network activity.

Updated on: 10/02/2022

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