Koala Wallet's asset swap feature is super powerful, but problems may still occur. Please read below the most common causes of problems and their solutions.
All your initiated swaps will be visible by tapping the "history" icon at the top right corner of the swap page.
Tap any entry on the history to see more details.
There you can find the exchange ID, which can be sent to support to help them find the relevant details. Tapping the ID will also open the provider's details and instructions on your browser.
Exchange timed out / overdue
This should be the most common failure type. If you reach the swap confirmation screen but change your mind, the pending swap will eventually time out. Since crypto prices can fluctuate very quickly, rates are only valid for a short time. If you take too long to send or change your mind, you can safely ignore that swap and start a new one with updated rates. Sending coins to an expired swap may result in it being completed with a new rate, being automatically refunded, or put on hold waiting for your explicit approval for use of new rates. In the last case, you should contact the exchange provider informing them the exchange ID so they can finalize it.
Could not fetch rates
Due to the number of exchange providers and huge number of swappable assets, the combination of pairs is nearly infinite. It's possible to select a pair of assets that at the time cannot be swapped between each other. In this case Koala Wallet won't receive the rates for that pair and will not allow you to proceed. You can always try again another day to see if the pair is available then.
Exchange taking too long
Most exchanges complete in less than 20 minutes, but can occasionally take longer due the provider's internal processes. Up to 4 hours of processing have been experienced, but the swap still concludes with the expected rates. If your swap hasn't completed after a few minutes, please be patient. You can tap the "Exchange ID" value at the top of the swap details to be taken to the provider's page with even more information about the process. You can read more about a swap's process here.
Generic provider failures
If your outward transaction is confirmed on the blockchain, Koala Wallet did all it needed to do. In this case a failed exchange means there was an issue internal to the provider, which we unfortunately do not have visibility into. If you don't get an automatic refund, please contact the provider informing the exchange ID so they can resolve it.
KYC requirements
Koala Wallet is anonymous and does its best to preserve your privacy. But to be allowed to provide their services and conform with local laws and regulations, providers may need to get customer information (KYC) before proceeding with the exchange. Their KYC requirement takes into account several risk factors which can include the source address' transaction history and exchange value. If a swap is frozen due to KYC, please contact the provider informing the exchange ID so they can guide you through the process. Koala Wallet never receives personal information from its providers and will never link addresses to your identity.
Exchange successful, but got back less than expected
Exchanges have two types of rates: fixed and floating. Fixed rates are guaranteed as long as you send within its validity window. Sending after the rate expired may automatically complete the exchange with updated rates. Floating rates don't have a time limit and will use whatever rate was effective at the time when you actually sent the transaction. It's also possible that you will receive more than expected.
Even in case of fixed rates, providers use their own price sources, not necessarily the same that Koala Wallet uses. If you expected to receive a certain dollar value in Koala, but received a slightly different one, it's most likely due to different source of price data. It's important to be aware of dollar prices, but the agreement with the provider is for a specific amount of coins. Always make note of the amount of crypto to be received, because in reality that's what being used in the operation.
Not enough balance to cover fees
Miner fees are part of a blockchain protocol, independent of exchanges. These fees must be paid with the base coin of that chain. For example, miner fees for sending Ethereum tokens must be paid in ETH. It's not possible to swap tokens if you don't have enough of the base coin for these fees. If such error is preventing you from swapping, increase the balance of the blockchain's respective base coin.