This is a risk mitigation parameter for the merchant to configure how they want to fulfill orders depending on the number of block confirmations for the transaction made by the consumer on the selected cryptocurrency.
- high: The invoice is marked as "confirmed" by BitPay as soon as full payment is received but not yet validated on the corresponding blockchain. The invoice will go from a status of "new" to "confirmed", bypassing the "paid" status. If you want an immediate notification for a payment, you can use the high speed setting. However, it makes you more susceptible to receiving fraudulent payments, so it is not recommended.
- medium: (Recommended for most merchants) The invoice is marked as "confirmed" after the transaction has received basic confirmation on the corresponding blockchain. For invoices paid in Bitcoin (BTC), this means 1 confirmation on the blockchain which takes on average 10 minutes. The invoice will go from a status of "new" to "paid" followed by "confirmed" and then "complete"
- low: The invoice is marked as "confirmed" once BitPay has credited the funds to the merchant account. The invoice will go from a status of "new" to "paid" followed by "complete", thus bypassing the "confirmed" status. For invoices paid in Bitcoin (BTC), this means 6 confirmations on the blockchain which takes on average an hour
If not set on the invoice, transactionSpeed will default to the account-level Order Settings.
Note : orders are only credited to your BitPay Account Summary for settlement after the invoice reaches the status "complete" (regardless of this setting).