What Happens After You Send Crypto to KWIQ, Step by Step

You've pressed send. The exchange says "Withdrawal complete". Your KWIQ wallet shows the same balance it did five minutes ago. It's 9pm, the money is meant for tomorrow's rent, and a small voice starts asking whether you've just made an expensive mistake.

Almost always, you haven't. Your crypto is in the middle of a journey with several stops, and each stop runs on its own clock. Knowing what they are turns a nervous wait into a normal one.

Here's the whole trip, from the address you copy to the alert from your bank.

Stop 1: The address you copy

Everything starts in the KWIQ app. You open the wallet for the coin you're sending, copy the deposit address and read the network shown with it. In the app or wallet you're sending from, you paste that address and choose the same network.

A mistake here costs more than at any other stop, so it's worth the extra ten seconds. If you've never done it before, our guide on checking which coins and networks KWIQ accepts shows exactly where to look.

Stop 2: Your sending app releases the transaction

When an exchange says "complete" or "sent", it means the exchange has released your withdrawal. It doesn't mean the coins have arrived anywhere yet. Some exchanges also run their own checks before releasing a withdrawal, which can add a delay before anything appears on the blockchain.

At this point you should be able to find a transaction ID, also called a hash or TxID, in your withdrawal history. Copy it and keep it. It's the receipt for your transfer, and you'll need it if you ever have to ask anyone what happened.

Stop 3: Confirmations on the blockchain

Now your transaction is waiting to be included in a block. Once it's in one, it has one confirmation. Each new block added after that is another confirmation, and each one makes the transaction harder to reverse.

Receiving platforms wait for a set number of confirmations before crediting a deposit. That number varies by coin, because some blockchains settle faster and more firmly than others. Our explainer on blockchain confirmations goes into why.

How long this stop takes depends almost entirely on the network you chose:

• Bitcoin adds a block about every 10 minutes on average, and a busy period or a low fee can mean a much longer wait for the first confirmation. If your transfer seems frozen, read what to do about an unconfirmed Bitcoin transaction.
• Many other networks, including those commonly used for stablecoins, produce blocks far faster, so confirmations often come within minutes.

You can watch this happen yourself. Paste your transaction ID into a block explorer for that network and you'll see its status and confirmation count. Our guide on how to use a blockchain explorer shows how to read the page.

Stop 4: Credited to your KWIQ wallet

While the confirmations add up, you'll usually see the deposit waiting as pending. Once it has enough, it's credited and your wallet balance updates.

The coins are now in your KWIQ wallet, ready for the next stop.

Stop 5: The swap to naira

You choose how much to sell. The app shows you the rate and the exact naira amount before you confirm. Swapping crypto to naira on KWIQ has zero fees, so that naira figure is what the sale pays.

Trades are fully automated, which is why most sales are done in minutes once the deposit is confirmed on the blockchain. In practice, the slow part of the whole journey is usually Stop 3, not this one.

One thing people often miss: the rate that applies is the rate at the moment you sell, not the moment you sent. If the market moved while your Bitcoin waited for confirmations, the naira amount will reflect that, in either direction. Stablecoins like USDT are designed to hold their value against the US dollar, so their naira rate usually moves far less during the wait than Bitcoin's does. You can check where prices stand on our live crypto to naira rates page.

Stop 6: The withdrawal to your bank

Finally, you withdraw your naira to any Nigerian bank account, including OPay, PalmPay, Kuda, Moniepoint and all the commercial banks. Once you sell, naira can reach your account in as little as 4 seconds.

Before you confirm, check the account number and the account name shown. A blockchain delay sorts itself out; money sent to the wrong bank account can be hard to get back.

If something looks stuck

What you see	What it usually means	What to do
The sending app says "complete" but KWIQ shows nothing	The transaction is still waiting for confirmations, or the sending app hasn't released it yet	Find the transaction ID and look it up on a block explorer
The explorer shows the transaction as unconfirmed for a long time	The network is busy, or the fee paid was low	Usually, wait. For Bitcoin, read the unconfirmed transaction guide
The explorer shows plenty of confirmations, but your wallet still isn't credited after a while	Possibly a wrong network, wrong address or a missing memo	Contact KWIQ support with the details below. Don't send more in the meantime
You've sold, but the naira hasn't reached your bank	A delay on the banking side, or incorrect account details	Check the account details, then see our guide to delayed naira withdrawals

What to have ready if you contact support

KWIQ's support team is available 24/7 through live chat in the app and on kwiq.app, by email at admin@kwiq.app or by phone on +2348098460000. You'll get an answer faster if you send everything in your first message:

• the coin and the network you sent on;
• the amount;
• the date and approximate time;
• the transaction ID (hash);
• a screenshot of the withdrawal in the sending app.

What you should never send: your password, PIN or one-time codes. KWIQ will never ask for them, by chat, phone, email or social media, and anyone who does isn't KWIQ. Our guide to getting help fast from KWIQ support has more tips.

Make your first trip a calm one

The first send is always the most nerve-racking, because every stop is new. After that, it's routine. Download the KWIQ app, open the wallet for your coin and follow the journey from Stop 1. If you'd rather start from your laptop or your phone is short on storage, you can create a free account on the web too.