money ยท post 01 of 7 in this channel
How a deposit to a WTN market balance actually works
Four steps, and the third one is much longer than the other three put together.
the three wethenorth market addresses
hn2paw7zfvndw3dovycegeqmvvnf4pl67b3g2p7pohjlzavloosh73id.onionhn2paw7zrgujyhnt6mgxlt2q6uhgbke4itpqitxhyfbumq3wtnckbuyd.onionhn2paw7zadwkcra3qzv5e4q547i7e5lvxm62cfxqftuqdu7moiu2ceyd.onionprinted the way they were handed over. no labels, no numbering, nothing here says which one to try first. this feed never opens them, so it has no status light, no percentage and no date of checking to give you.
step one, the market gives you an address
Inside your account there is a deposit section, and it shows you an address to send to. That address is yours in the sense that anything arriving at it is credited to your balance.
Copy it. Do not read it off the screen and type it. This is the same argument as copying the market address, and the stakes are higher because a mistyped payment address does not bounce.
step two, you send a transaction
From wherever you hold funds, you send to that address. The market has no involvement in this part and cannot see it until it appears on the chain.
This is the moment where the fee you attach matters. A transaction sent with a low fee can sit unconfirmed for a long time, and the market cannot speed that up because it has nothing to do with it.
People blame the market for this constantly. The market is a spectator until confirmations start arriving.
step three, the waiting
Your transaction is broadcast, then it waits to be included, then it waits for confirmations to stack up behind it. The market usually credits a balance after some number of confirmations rather than immediately.
How many, and how long each takes, depends on the coin and on how busy the network is. The post on confirmations is entirely about this stage.
It is the stage where nothing appears to be happening, which makes it feel like something has gone wrong.
step four, a number changes
The balance in your account updates. That is the whole ceremony. There is no receipt, no email, no notification beyond the number itself.
The number is now the market holding value for you, which is a different situation from holding it yourself, and that difference is the subject of leaving a balance sitting.
the two early mistakes
The first is reusing an old deposit address from a previous session without checking whether it is still the one shown. Some systems rotate them, and sending to a stale one can mean the funds are not credited.
The second is sending a different coin to an address that expects one specific coin. That mistake is usually final and there is nobody to appeal to.
Both are avoided by going to the deposit page, copying what it shows you right now, and reading the label above it.
the calm way to do a first deposit
Send a small amount first. Watch it arrive, confirm, and appear as a balance. You have now tested the whole path with something you can afford to lose.
Then do the real one. The cost of this is one extra transaction fee, and it buys you certainty about a process you have never run before.
replies
a reader askedHow long should a deposit take?
the answerThis feed will not print a number, because the honest answer depends on the coin, the fee you paid and how busy the network is. Anything from minutes to considerably longer is normal.
a reader askedCan the market speed up my deposit?
the answerNo. Once your transaction is broadcast it is in the hands of the network. The market is waiting for the same confirmations you are waiting for.
a reader askedDo I get a confirmation email?
the answerNo. There is no email address on your account, because registration never asked for one. The balance changing is the notification.
what this post is not Not a list of supported coins, minimums or fees. Those change, and this feed does not open the market to look them up.