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Troubleshoot why your transactions in Best Wallet might be failing or getting stuck on "Initiated". There are several common reasons that crypto transactions like sending, swapping, and receiving might fail, and they are all easily fixable. Follow the steps below to identify and resolve your issue.
Insufficient crypto to pay gas fees
One of the most common reasons a crypto transaction fails is due to not having enough gas tokens in your wallet, meaning you can’t pay the gas fee to process and confirm the transaction.
What this means is that if you are, for example, transacting on the Ethereum network, you will need to pay a gas fee to process your send or swap transaction. This gas fee is payable in ETH, the native token of Ethereum.
This applies to all tokens on that network. So if you're swapping Tether (USDT) for Shiba Inu (SHIB) on the Ethereum network, you'll still need to pay gas in ETH.
Best Wallet has made it easy to see and rectify gas fee issues when sending and swapping your crypto. You can buy gas fee tokens directly in Best Wallet — read our guide on how to buy tokens like ETH or BNB in-app.
What are gas fees?
Gas fees are like the crypto processing or convenience fees of blockchains, also known as network fees or transaction fees, which can be used interchangeably. These gas fees need to be paid in the native tokens of the crypto network you are using.
To avoid this, it's good practice to buy some of the native tokens of the main networks you transact on. So, for example, if you have Ethereum and Polygon network tokens in your wallet, it would be beneficial to own some ETH and POL (Polygon’s native token). That way, you can have a reserve to pay gas fees, allowing you to transact quickly and freely.
Read our guide on gas fees and how they work.
Your token balance is too low for the transaction
A common reason your crypto transaction might be failing is that your token balance is too low to successfully execute the transaction. This could be due to the fluctuating price of your cryptocurrency, or that you've used more than you realised in other trades.
Keep an eye on your token balance, and if you want to send all your tokens, hit the useful "Max" button. This will help avoid any errors when sending or swapping your crypto.
You're sending crypto to an incorrect wallet address or via the wrong network
Another common cause of failing transactions is using incorrect wallet addresses or trying to transact on the wrong network.
We advise that you always copy and paste wallet addresses into Best Wallet to ensure you are sending to the right wallet. A mistake or typo in a wallet address could result in either your crypto being sent to the wrong wallet, or simply failing.
Another common issue is trying to transact on the wrong network. What this means is that if you try to send your Ethereum-based tokens to a Solana-only wallet, your transaction will most likely fail or you will lose your crypto. This is because Ethereum and Solana are two different blockchain networks and aren't always compatible.
Please double-check all wallet addresses and networks before trying to send or receive crypto to ensure you don't lose your funds.
Your transaction hasn't failed, just pending
Crypto transactions often take a little time to process, especially when using the Ethereum network. This doesn't mean your send or swap transaction has failed, just that it's taking a while to finalise.
This means that although you have executed the swap or transfer of crypto, it might not reflect in your Best Wallet balance instantly.
A good way to check is to go to your wallet's Transactions tabs. Here, you will see all your wallet's transactions.
By tapping on the transaction, you will see a breakdown, including the amount transferred, the gas fee, and the current status of the transaction.
If a transaction is "Initiated", it means you have processed it on your end, and now it is processing on the blockchain.
This is a little like how, in traditional banking apps, new transactions often will be marked as pending and their amount not reflected in the account’s balance.
In cryptocurrency, pending transactions are commonplace and happen for several reasons:
High Network Volume: When there are many users all transacting on one network, the network gets congested, resulting in slow transaction times and higher gas fees. Transaction times are often recorded in crypto as Transactions per Second (TpS). Ethereum is known for being the most congested network, and quite often, transactions on Ethereum will be pending for a while during peak times.
Slow Block Times: Related to congested networks, this just means that the blockchain that records and processes transactions is taking longer than normal. This is the system of confirming blocks processed by validators and miners, and they can process a limited number of transactions per second. When you pay your gas fees, you essentially pay these validators to process and validate your transactions. It is important to note that these are normal aspects of crypto transactions, and a pending transaction is nothing to worry about.
How to ensure successful transactions in Best Wallet
To make sure your transactions in Best Wallet are always successful, do the following:
Ensure you have enough native tokens to pay gas fees. You can buy Ethereum (ETH), Polygon (POL), and BNB (BNB) directly in the Best Wallet app. You will see a breakdown of expected gas fees when transacting in Best Wallet, making it clear how much you will need to pay and whether you have enough.
Monitor the network’s activity or know when the peak times are. This will not only prevent your transaction from pending for too long but also save you quite a bit of money by avoiding elevated gas fees.
Check your transaction activity and history within the Best Wallet app. You can see all your transactions—confirmed, Initiated, and Failed—in the Best Wallet app. Select the correct wallet and check the “Transactions” tab on the home page. You can track all that wallet's transactions here. Please do not submit a new transaction if your existing one is marked "Initiated,” as both will most likely eventually go through.
If you need further support
If your crypto transaction keeps failing, first read our guide on what to do once a transaction fails.
If the issue persists and you have checked all the suggested resolutions, please email [email protected] and the support team will help you troubleshoot and resolve your issue.