What are off-chain transactions?

After you have processed a crypto withdrawal, you might see the "hash" labelled as an "offChain" transaction.

Off Chain transactions take place when you send crypto to another merchant on the BVNK network. Funds are moved between you and the counterparty away from the blockchain and BVNK updates its internal ledgers to reflect the movement of funds. 

This allows BVNK to move funds quicker and cheaper between the 2 parties involved to further support our merchants.

All Off Chain transactions are processed immediately and the balance will be available for the counterparty instantly after the transfer.

For any further clarity on off-chain transactions please reach out to our support team or your account manager.

 

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