Why do I see my funds in Pending deposits?
Once a purchase of crypto is initiated, you will see the USD value of the amount within a Pending Deposits section. The Available to withdraw amount will not include the latest purchase while it is still within a clearing period.
What is the clearing period?
When you purchase crypto with fiat currency (via debit/credit card or bank account) in the Axon app, there will be a clearing period enforced on the purchased tokens during which you can still transact with them within the Instant wallet but you will not be able to use the coins for collateral, sell them to fiat or transfer them to another wallet.
The clearing period is based on the equivalent USD value at the time of purchase, which is bound to a Smart Contract that we cannot alter in any way.
How does the clearing period work?
When you make a purchase of crypto tokens with fiat currency, the coins are instantly credited to your Instant wallet. The specific transaction is bound to a Smart contract which allows you to use the bought crypto assets towards any transaction besides selling it to fiat, transfer it outside of the Instant wallet or using it as collateral.
The Smart contract will allow you to execute any transaction with the assets once the clearing period is over.