Blockchain FAQs
1. What are the blockchains supported for transfers?
You may call this API (Get a list of supported blockchains) to see the list of supported blockchains.
2. What security measures are in place when whitelisting blockchain addresses for withdrawals?
Whitelisting a blockchain address ensures only approved addresses can receive funds, preventing unauthorized transactions. StraitsX enforces multiple security measures to protect businesses and users. Whitelisting requirements differ by address type:
- Custodial addresses (exchange/platform wallets): Submit via StraitsX dashboard for StraitsX review and approval
- Non-custodial addresses (personal wallets): Submit via StraitsX dashboard, then complete ownership verification via withdraw-and-redeposit cycle
- Businesses and individuals may need to undergo KYB (Know Your Business) or KYC (Know Your Customer) verification before an address can be whitelisted.
For detailed steps, refer to How do I submit a whitelisting request?
3. How long do blockchain transactions take to confirm?
| Blockchain | Estimated Confirmation Time | Factors Affecting Speed |
|---|---|---|
| Ethereum (ERC-20) | 5 – 15 minutes | Gas fees, network congestion |
| Polygon (MATIC) | 2 - 5 minutes | Validator processing speed |
| Avalanche (AVAX) | 1 - 2 minutes | Network congestion, validator confirmation |
| Binance (BEP-20) | 1 - 3 minutes | Validator speed, network congestion |
Note: Confirmation times are estimates and may vary based on network conditions.
4. Are there gas fees for blockchain transfers?
Yes, gas fees depend on the blockchain network and current congestion levels. Our API provides a network fee estimate before executing a transfer.
5. What happens if a blockchain transaction fails?
Failed transactions may occur due to low gas fees, network congestion, or invalid addresses. You can retry the transaction after adjusting the parameters.
6. Does StraitsX support smart contract interactions?
Currently, StraitsX does not support direct smart contract interactions but may introduce this feature in the future.
7. Is there an API for creating a blockchain address in the production environment?
- Deposit addresses can be created via API using the Create Deposit Address endpoint.
- Whitelisted withdrawal addresses cannot be created via API in production — they must be added via the StraitsX dashboard.
Updated 7 days ago