When making a cryptocurrency payment, it is essential to select the correct cryptocurrency and blockchain network. Payments sent using the wrong coin or network will not be processed automatically and can result in additional fees or loss of funds.
What Is an Incorrect Payment?
An Incorrect Payment occurs when funds are sent using:
The wrong blockchain network
An unsupported or incorrect cryptocurrency
An incompatible address format
Are Incorrect Payments Refundable?
Refunds for Incorrect Payments are not guaranteed.
In cases where the cryptocurrency or blockchain network is not supported, there may be situations where a refund cannot be processed at all, even if the funds are technically received.
Refund Processing Fee
If a refund is approved, it will be subject to a non-refundable refund processing fee of 20 EUR.
This fee covers:
Blockchain network (gas) fees required to process the refund
Part of the operational and administrative effort involved in manually investigating and processing the request
The refund processing fee will be deducted from the refunded amount before the funds are returned.
When a Refund Will Not Be Issued
A refund will not be issued in the following situations:
The cryptocurrency or network is unsupported, and recovery is not technically possible
The cost of processing the refund exceeds the value of the payment
The funds cannot be accessed due to blockchain limitations
Important Reminder
Customers are solely responsible for ensuring that the correct cryptocurrency is selected and the correct blockchain network is used.
Blockchain transactions are irreversible. Once a transaction is sent, it cannot be canceled or reversed. That is the reason why we strongly recommend carefully reviewing all payment details before completing a transaction.
If you have any further questions, feel free to contact our Support Team via suport@coinify.com or submit your request via our Help Center.