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Balance

Overview​

On the BlockWyre platform, the balance represents the amount of available and pending funds in different currencies for an account. The balance is a crucial metric that allows account holders to understand their financial situation in real-time.

The BlockWyre balance is broken down for each coin that the account holds. This means that each type of currency, whether cryptocurrency or fiat currency, has its own associated balance within the account.

Balance Types​

IncomingPending​

The IncomingPending balance represents funds that are in the process of being received but are not yet available for use. These funds may be awaiting blockchain network confirmation or bank transaction approval.

OutgoingPending​

The OutgoingPending balance reflects funds that are in the process of being sent from the account. These funds have been deducted from the available balance but have not yet been confirmed by the network or the receiving entity.

Available​

The Available balance is the amount of funds that are available for immediate use. This is the balance that the account holder can use to make transactions, payments, or currency conversions without restrictions.

Key Terminology​

  • Balance: The amount of available and pending funds in different currencies.
  • Coin: Each type of currency, whether cryptocurrency or fiat currency, that the account holds.
  • IncomingPending: Funds in the process of being received but not yet available.
  • OutgoingPending: Funds in the process of being sent but not yet confirmed.
  • Available: Funds available for immediate use.

Conclusion​

The balance on the BlockWyre platform provides a detailed and accurate view of the account's funds, broken down by each type of currency. By understanding the different types of balances (IncomingPending, OutgoingPending, and Available), account holders can better manage their assets and make informed financial decisions.

Support and Resources​

If you need assistance or have any questions, our support team is here to help. You can contact our support team at support@blockwyre.com.

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We are excited to have you on board and look forward to seeing how you leverage BlockWyre's powerful tools to enhance your financial operations. Happy integrating!