Why do Bitcoin transactions take so long?

[Sagor 500]

17 hours ago, Nabeera ch said:

becuase sites are very bus their is a large no of traffic of people on this websites so that why bitcoin transection take so much time

i think there was much transaction request means there was a traffic thats why the transaction takes much time to be successful.

[Francisco Cabarico 48]

Good post, I really had no information about it so I thank you for taking the time to explain. I also assume that due to its level of coding it is a little longer.

[Amir YT 202]

On 11/28/2019 at 12:11 PM, Digicoin said:

The reason is because,  before a transaction to be finalized, it usually has to be confirmed six times before it is sent over to the recipient. This, when coupled with the high levels of demand means that it can take anywhere from 10 minutes to a day for transactions to clear or even longer in some circumstances. The network is only capable of processing approximately seven transactions per second, meaning it pales in comparison to payment platforms such as Visa. Lightning Network, which adds another layer to the blockchain to deliver instantaneous payments with lower fees, have been introduced.

I also notice that bitcoin transaction take long time to confirm. I will say as i know. I saw in a time many transaction occure on the network. And ther are some miners rewards transaction, some fees of the network and another real transaction. I think that's why it takes so long time.

[Dolpharius 675]

there’s nothing wrong with that, you can wait for the transaction or pay more; miners hurry up! and so there were times when another bitcoin network was attacked, it took days to wait.

[Mashiur 77]

Actually I am also faching this problem. But I don't know about this metter. If anyone know about this metter then please tell me

[Mukty112 68]

Yes bitcoin transaction take long time because of six time confirmation. It   was the most demandable that's why it takes time to transformation.  

[rekter 8129]

On 11/28/2019 at 9:25 AM, Warrior said:

Bitcoin has a biggest blockchain so for transportation this needs some confirmation and for these confirmation it's take so much time to confirm

Actually it has nothing to do with the size of the chain and all to do with the block time. Size of the chain is whole different issue and debates on how to deal with that are on going.

[Alex60 27]

In fact, I haven't done any Bitcoin transactions yet but I think the problem you are talking about is not a reason.  You can use it for sure in the confusion that someday parents will never do it, it seems to be for more in the future

[Kantaro1711 1]

This is because cryptocurrency transactions are performed as a bus. The bus stops at the stop and will not leave until all passengers ride the bus and therefore you have to wait for the bus to be filled with bitcoins for transfer.

[Shanto28 0]

On 11/28/2019 at 1:25 PM, Warrior said:

Bitcoin has a biggest blockchain so for transportation this needs some confirmation and for these confirmation it's take so much time to confirm

Bitcoin transactions in the world are very expensive. Confirmation is essential in case of expensive transactions. That's why Bitcoin transactions take longer.

[George carry 24]

There are verious steps involved in finish the transaction. Before sending to other wallets they verify in 6 steps I think. That's why it's take time that's for our safety

[Abiaan 1209]

bitcoin is the old coin and first ever blockchain with old technology that was ever made , other new alt coins like Ripple and Ethereum they are latest and young one so ofcourse it has good service than BTC

[Ms doni07 15]

The blockchain is used to withdraw bitcoin and it is also necessary to save a lot of information about selling bitcoin and buying yes I know this is a problem that you wait a long time to withdraw bitcoinHave to do.

[Itzmumin 6]

Well Bitcoin transactions take a long time because there are two main factors that affect the timing of the transaction. 1, the amount of network activity and 2, the transaction fee.If you pay a high fee, a mine worker is more likely to process your transfer which reduces the transaction time.i think it is one reason to take a long time.

[Vivek1997 437]

Yes brother you have posted right information. Every cryptocurrency head is own confirmations. For example, litecoin has 6 confirmations and ethereum has 30 confirmation rounds. So it takes all those confirmations to confirm address of receiver in every confirmation. And this is why cryptocurrency transaction needs time to process. Thank you.

[andrehol 16294]

I agree that the speed of transactions is not the strongest side of Bitcoin. This is  a disadvantage, but Bitcoin was not created for instant cash transactions! It provides financial security in the long run. It is a safe financial tool for long-term investments. And for instant transfers, there is Ripple.

[Saj555 2250]

Because when a transaction takes place then it needs the approval of 12 different networks. And to take the permissions ,it actually needs some time and the transaction or the withdrawal take so much time. 

[Jmax555 6]

On 11/28/2019 at 12:11 PM, Digicoin said:

The reason is because,  before a transaction to be finalized, it usually has to be confirmed six times before it is sent over to the recipient. This, when coupled with the high levels of demand means that it can take anywhere from 10 minutes to a day for transactions to clear or even longer in some circumstances. The network is only capable of processing approximately seven transactions per second, meaning it pales in comparison to payment platforms such as Visa. Lightning Network, which adds another layer to the blockchain to deliver instantaneous payments with lower fees, have been introduced.

I khow from your post some good information about bitcoin transactions.but, i think bitcoin is one of the valuable coin of crypto market that's why also take much time for transaction.     

[Luismare135 2]

I assume the users of bitcoin increases day by day. And exactly to this reason, near is a incredibly fat transfer on the bitcoin blockchain. So, the transactions of the bitcoin takes particular time to process.

 

[Mcd0d0 5882]

Well, this bitcoin takes some a minute for its transactions because it has a process first before you getting it to your wallet, i will prefer to you to used ripple in any transactions because this coin is the one of the fastest in terms of transactions, it takes some a seconds only.

[Moskohunter 0]

Very well, that bitcoin normally takes many a second to its orders because doing so incorporates a practicing primary prior to received it on your billfold, I most certainly will prefer to someone to utilized ripple in orders mainly because that coin would be the on the list of best with regard to orders, you will need many some sort of moments solely.

[AkaCrafterCZ 1140]

As some people said above, there's a limited amount of transactions that can be included in a block (about 3500 for the 1MB limit) and the higher fee you offer to be paid to the miner, the higher chance is that your tx will be included in the new block.

[Badhon420 126]

Of course, Bitcoin TPS is smallish and yet it is deceived aided by the segwit not to mention turbo 'network ' not to mention as well as that I suppose there are a lot various other funds that provide more TPS not to mention more rapid affirmation intervals.

[Mercello Blyat 21]

Image result for Why do Bitcoin transactions take so long?
Currently, bitcoin network traffic is unusually high due to increasing demand for transactions per block. Block sizes are limited, so this means that transactions which exceed the capacity for a block get stuck in a queue for confirmation by bitcoin miners.

[jekich.chan 1439]

Yes, one of the main drawbacks of cryptocurrencies is their confirmation, Bitcoin usually has 6 confirmations. 6! This is a lot, it so happened that I waited for payments for several hours, this is a very long time.

Edited March 1, 2020 by jekich.chan
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