Crypto transactions can fail for various reasons, especially when using platforms like Coin98 Super App. Understanding these issues helps prevent future failures and optimize your trading experience.
Common Reasons for Failed Transactions
Insufficient Gas Fee Balance
- Problem: Users may lack sufficient native tokens to pay gas fees on their blockchain network.
Solution:
- Ensure you hold enough native tokens (e.g., ETH for Ethereum, BNB for BSC) to cover gas fees.
- Coin98 Super App optimizes fees, but AMM swaps often involve multiple routes with higher costs. Always maintain a buffer balance.
Low Token Balance
- Problem: Attempting to swap more tokens than your wallet holds.
Solution:
- Reduce the swap amount slightly below your wallet balance.
- Deposit additional tokens if needed.
Trading During Low Liquidity or High Volatility
Problem:
- Small-cap tokens with thin liquidity.
- Price swings during volatile market conditions.
Solution:
- Coin98's default 5% slippage works for most tokens.
- Adjust slippage tolerance higher (e.g., 10–15%) for low-liquidity tokens or volatile markets.
Low Gas Fees Causing Delays
Problem:
- Slow network congestion leads to timeouts.
- Unexpected fee spikes during high traffic.
Solution:
- If a transaction fails after approval, retry with the same amount to avoid repeat approval fees.
- Monitor network status (e.g., Ethereum Gas Tracker) before sending.
Transaction Reverted
Problem: A "Reverted" status indicates the transaction failed and no state changes occurred. This may include:
- Smart contract errors.
- Insufficient liquidity.
- Invalid parameters.
Solution:
- Check blockchain explorers (e.g., Etherscan) for revert reasons.
- Retry with adjusted parameters (e.g., amount, slippage).
Pro Tips to Avoid Failures
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- Avoid peak volatility: Prices swing wildly during news events or market openings.
- No platform guarantees 100% success: Even top apps like Coin98 Super App (with its Gas Engine) face network limitations.
- Chain-specific fees: Gas costs vary by blockchain (e.g., ETH for Uniswap, BNB for PancakeSwap). Always double-check before approving.
FAQs
Why does my transaction keep failing despite having enough funds?
- This often stems from underestimating gas fees or slippage. Increase both slightly and retry.
How do I know if a token has low liquidity?
- Check trading volume on platforms like CoinGecko. Tokens with <$10,000 daily volume often face liquidity issues.
Can I recover funds from a failed transaction?
- Yes! Reverted transactions return all funds minus gas fees. No additional action is needed.
What’s the ideal slippage setting for stablecoins?
- For stablecoin pairs (e.g., USDC/USDT), 0.1–0.5% slippage is usually sufficient.
Why does Coin98 show "Insufficient Output" errors?
- This means the swap can’t meet your minimum received amount. Either accept less output or raise slippage.
Should I cancel a pending transaction?
- If stuck for >1 hour, cancel it by sending a new transaction with the same nonce and higher gas fee.
By addressing these common pitfalls, you’ll significantly boost your transaction success rates. For advanced troubleshooting, consult Coin98’s official documentation.