In the realm of cryptocurrencies, what does 'initiated status' refer to?

3 answers

• Dec 16, 2021 · 3 years ago
  Initiated status in the realm of cryptocurrencies refers to the state of a transaction or process that has been started or activated. It indicates that a particular action or operation has been initiated and is in progress. For example, when a user initiates a cryptocurrency transaction, the initiated status signifies that the transaction has been initiated and is being processed. This status is important as it allows users to track the progress of their transactions and ensures transparency in the cryptocurrency ecosystem.
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• Dec 16, 2021 · 3 years ago
  When it comes to cryptocurrencies, 'initiated status' simply means that a certain action or event has been triggered and is now in motion. It could refer to the initiation of a transaction, the activation of a smart contract, or the start of a specific process within a blockchain network. This status is crucial for users to confirm that their intended actions have been successfully initiated and are being executed. It helps to provide clarity and assurance in the fast-paced world of cryptocurrencies.
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• Dec 16, 2021 · 3 years ago
  In the realm of cryptocurrencies, initiated status is a term commonly used to describe the initial phase of a transaction or operation. It signifies that the process has been started and is underway. For instance, when a user initiates a cryptocurrency withdrawal on BYDFi, the initiated status indicates that the withdrawal request has been submitted and is being processed by the platform. It's important to note that the initiated status is just the beginning, and there are subsequent stages such as pending, confirmed, and completed, which reflect the progress and completion of the transaction.
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