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?
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 can be done through:
- Performing a successful transaction to the blockchain address.
- Businesses and individuals may need to undergo KYB (Know Your Business) or KYC (Know Your Customer) verification before an address can be whitelisted.
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 |
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?
We do not allow creating blockchain address via API - blockchain addresses have to be whitelisted via dashboard.
Updated 3 days ago