While NinjaSwap strives to make cryptocurrency exchanges as smooth and reliable as possible, we understand that sometimes you may need to cancel an exchange. This guide explains when and how you can cancel an exchange, as well as what happens after cancellation.
Important Note
Due to the nature of blockchain transactions, cancellation is only possible at certain stages of the exchange process. Once your funds have been sent to the blockchain network, the transaction cannot be reversed.
When Can You Cancel an Exchange?
The ability to cancel an exchange depends on its current status:
Cancellation Possible
- Awaiting Deposit
When the order is created but you haven't sent funds yet
- Deposit Time Expired
When the deposit time window has elapsed without receiving your funds
Cancellation Not Possible
- Deposit Confirmed
Once your deposit has been detected and confirmed on the blockchain
- Exchange in Progress
When the exchange is being processed
- Exchange Completed
After the exchanged cryptocurrency has been sent to your wallet
How to Cancel an Exchange
If your exchange is in a state where cancellation is possible, follow these steps to cancel it:
Access Your Exchange Order
Navigate to your exchange order page. You can find this by:
- Using the link provided in your confirmation email
- Logging in to your NinjaSwap account and viewing your order history (if you have an account)
- Using the order ID and your email to track the order on our website
Locate the Cancel Button
If your exchange is in a state where cancellation is possible, you'll see a "Cancel Exchange" button on the order details page. This button will only be visible if cancellation is currently an option for your exchange.
If you don't see a cancel button, it means your exchange has progressed to a stage where cancellation is no longer possible.
Confirm Cancellation
Click the "Cancel Exchange" button and confirm your decision when prompted. This confirmation step helps prevent accidental cancellations.
Cancellation Confirmation
After confirming, you'll receive a notification that your exchange has been canceled. The status of your order will be updated to "Canceled" and no further action will be taken for this exchange.
Special Case: Deposit Time Expired
If the deposit time window expires before you send your funds, the exchange will enter a "Deposit Time Expired" state. In this case:
- The original exchange rate is no longer guaranteed
- You have two options:
- Cancel the exchange: If you no longer wish to proceed
- Request a new rate: If you still want to exchange but missed the time window
To request a new rate, look for the "Request New Rate" button on your order page. This will update the exchange with current market rates and provide a new time window for making your deposit.
Deposit Time Windows
NinjaSwap's standard deposit time windows are:
- Fixed Rate Exchanges: 20-30 minutes (varies by currency pair and market conditions)
- Floating Rate Exchanges: 24 hours (though rates will be determined at confirmation time)
These windows ensure we can provide accurate exchange rates in volatile markets while giving you sufficient time to send your funds.
What Happens After Cancellation?
When you cancel an exchange, the following occurs:
If No Funds Were Sent
- The exchange is simply marked as "Canceled"
- No further action is required
- You can create a new exchange if you wish
If Partial Funds Were Sent
In rare cases, you might have sent funds but they weren't fully confirmed before cancellation:
- Funds will be automatically returned to your refund address (if provided)
- If no refund address was provided, contact our support team
Refund Address Importance
When creating an exchange on NinjaSwap, we recommend always providing a refund address. This ensures that if you need to cancel or if there's an issue with your exchange, we can automatically return your funds to the specified address.
When You Can't Cancel an Exchange
As mentioned earlier, once your deposit has been confirmed on the blockchain, the exchange process begins and cancellation is no longer possible. This is because:
- Blockchain transactions are irreversible by nature
- The exchange process involves multiple automated steps that can't be safely interrupted
- Market positions may have already been taken to fulfill your exchange
If you're experiencing issues with an exchange that cannot be canceled, here are your options:
For Delayed Exchanges
If your exchange is taking longer than expected, please be patient. Some blockchains can experience congestion, which can delay transaction confirmations. You can check the status of your exchange on the order page and track the transaction on the relevant blockchain explorer.
Learn more about handling stuck transactionsFor Technical Issues
If you believe there's a technical issue with your exchange, contact our support team with your order ID and a description of the problem. Our team can investigate and assist with resolving any technical difficulties.
Contact SupportCancellation and Fees
NinjaSwap does not charge any fees for canceling an exchange. However, please be aware of the following:
- No Cancelation Fee: We don't charge any fees for canceling an exchange that hasn't received your deposit
- Network Fees for Refunds: If funds need to be returned to you, there will be blockchain network fees deducted from the refund amount (as these are costs we incur for processing the refund transaction)
- Rate Changes: If you cancel and later create a new exchange, the rates may differ from your original exchange due to market fluctuations
Frequently Asked Questions
Can I cancel only part of my exchange?
No, exchanges can only be canceled in full. If you wish to exchange a different amount, you'll need to cancel the current exchange (if possible) and create a new one with the desired amount.
I sent funds after the time window expired. What happens now?
If you sent funds after the deposit time window expired, we will still process your exchange but at the current market rate (for floating rate exchanges) or with an updated fixed rate. If the amount sent is below the minimum limit, the funds will be returned to your refund address minus network fees.
How long do refunds take?
Refunds are typically processed within 24 hours, but the time it takes for the funds to arrive in your wallet depends on blockchain network congestion. Most refunds are completed within 1-3 days. You can track the refund transaction on the blockchain using the transaction ID provided.
I didn't provide a refund address. How will I get my funds back?
If you didn't provide a refund address during exchange creation and funds need to be returned, you'll need to contact our support team. They will help you verify ownership of the funds and arrange for a secure refund. This process may take longer and require additional verification steps.
Summary
Here's a quick summary of exchange cancellation on NinjaSwap:
- Exchanges can be canceled only before your deposit is confirmed on the blockchain
- To cancel, access your order details page and click the "Cancel Exchange" button (if available)
- If the deposit time expires, you can either cancel or request a new rate
- There are no cancellation fees, but refunds may incur network transaction fees
- Always provide a refund address when creating an exchange for simplified return of funds if needed