Why do Bitcoin transactions take so long?

[Thekingcallme 1975]

I think many suffer from this problem which is delayed confirmation of transactions but it takes 3 confirmations in order to receive your order and if it is received you will receive your payment successfully

[fo1lluko1l 487]

Perhaps because you made a small Commission when you sent the transaction, because of this transaction is processed by miners after those who made the Commission more.

[Emma 611]

But other currency can complete 6 confirmations in a short time. In doge coin, the transection time is less than five minutes and litecoin is another good choice for transection

[khan22 3478]

Bitcoin this time send instantly and it will not take so much time. Still traffic is not so much to send the BTC from one side to another side. Crypto is the best market and it take so much time like 1 to 2 days in the transaction when the traffic is high on their servers like in 2017 end and 2018 start.

[Crypto123 0]

I think the reason is in order to avoid a network attack known as dual spending, this attack allows the hacker to spend the same transaction twice by reversing the process and therefore most exchanges require 6 assurances before accepting the deposit.

[Interface User 1070]

I think the number of users who also transacts is another factor to slow it process. One of its fork is called Bitcoin Cash and this is much faster than Bitcoin because its block is much bigger than BTC but I think I will still stick in Bitcoin because this is more known and popular.

[xprince1996 865]

On 12/1/2019 at 9:55 AM, Digicoin said:

You are very time. Miners will consider high transaction fee first and this makes the clearance time cash within a short time in minutes.

Actually miners are not choosing they are automatically executing those transactions that have high transaction fee the higher fee the fastest transaction.

[Sahbana 212]

In some cases if only one day is normal, sometimes it can take days if the exchange transaction that we use is very dense with withdrawals.

[duncun007 3577]

2 hours ago, Crypto123 said:

I think the reason is in order to avoid a network attack known as dual spending, this attack allows the hacker to spend the same transaction twice by reversing the process and therefore most exchanges require 6 assurances before accepting the deposit.

no i think its the network that need so much confirmation because it could be up to 20 confirmation at a time, but its good because this is what decentralization looks like and the reason why bitcoin is so secure.

[Afrizal rahman 2636]

Yes because of the many confirmations so it takes a few minutes. Even networks can influence this. A network regulated system cannot speed up its operation if the network has problems.

[rajonmia 181]

It's basically waiting to be picked up by a Bitcoin miner and entered into a block of transaction on the Blockchain. Until it is picked up it's considered an “unconfirmed transaction” or a “pending transaction”. A new block of transactions in added to the Blockchain every 10 minutes on average.

[dinabolt 514]

Bitcoin is the most crowded crypto in market, has bigger volume make transaction sometimes delay. Imagine if all vehicle take the same road at the same time, delay always happen. That's why time transaction and fees always relative, be patient my friend.

[Pearls Before Swine 815]

Those transaction times can definitely be a pain in the butt, especially when you're trying to pay for something or sending bitcoin to an exchange.  That's the main reason why I don't spend bitcoin on anything I can pay for with fiat, but the delay in sending coins to an exchange is something I have to just deal with, but most exchanges only require 2 confirmations as opposed to coins like dash which some exchanges might require 20 from.

 

I've seen times when the network has been so backed up that transactions are stuck for *days*.

[Sohel Rana Sazzad 453]

Bitcoin transactions are taken longer because there are several traffic rules for Bitcoin transactions.And that's why I think bitcoin transactions should take longer.

[Afikur1 11]

It,s a good question for beginners.I think that 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

[bliznec 22268]

Bitcoin transfer transactions between wallets take time and, for this, you need confirmations on the blockchain network. 

[patitaycute 648]

Bitcoin are big and popular coins in the market and many transactions are always coming that needs confirmation before allowing to transact. So need to be patient everytime.

[Naylor89 1223]

Transactions do not all take long. IT all depends on how much of a fee you paid. If you pay a large fee then your tx will go through almost instantly but a small fee could take up more.

[Roomi 1119]

On 11/28/2019 at 11:11 AM, 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.

Yes this is because of heavy load on network. After lightening network upgradation the speed have very little effect. One week ago i do a transaction which completed after two days. That worse sitiation.

[fuer44 1083]

On 11/28/2019 at 1:11 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.

LN can make transactions faster without having to record to the blockchain. we really have to see that there is development in bitcoin so that transactions can be faster and more effective.

[Mike Wazowski 129]

Six confirmations are not a rule, many places are fine with 3 or even 1 confirmation.

Of course, if you don't look at sites like https://bitcoinfees.earn.com/ before sending you may end up with too small fee paid and transaction not confirmed for too long.

[dizanti 33]

Here, transactions are a difficult thing, since it is too much to confirm a transaction 6 times each time. But this is the security of your wallet, it’s better

[Syedbesharat 5423]

11 hours ago, bliznec said:

Bitcoin transfer transactions between wallets take time and, for this, you need confirmations on the blockchain network. 

If we use zero confirmation method and send small amounts that will be pretty quick.I think i will be easy way .

[SuperCrypto 7193]

Although Bitcoin outperforms traditional banking operations in international payment, it is still slow and expensive when used in retail operations, but it is expected to improve speed in the future. Since bitcoin is still under development, the speed and fees paid are still not stable.

[bliznec 22268]

10 hours ago, Syedbesharat said:

If we use zero confirmation method and send small amounts that will be pretty quick.I think i will be easy way .

Yes, but Ethereum needs gas on the cryptocurrency, for sending transactions. And the board, accordingly, does not go according to a zero calculation.