Why do Bitcoin transactions take so long?

[hamo86 214]

look it depends on many factor
1- the fees you pay the more you pay the faster you get
2- the traffic at this  moment on the network 
3- the exchange may need to verify your request manually and that takes time
 

[Dimi_00 133]

Transactions are getting verified faster now that the lightening network has been implemented.

 

Now one thing that needs implementation is giving room for user mistakes.

A new person just learning crypto might mistakenly send his BTC to the wrong address, there should be a way to correct mistakes like that.

[Hendy1 370]

Yes, that's why I don't always use withdrawal transactions with bitcoin, sometimes it gets stuck in blockchain transactions, I think it doesn't take a lot of time, about 1 hour at the most and depends on the exchange wallet used to accept bitcoin. But I often make withdrawals with ethereum and this is really quite fast compared to bitcoin.

[Calvinpriva 17296]

I think bitcoin takes a lot of time to confirm transactions because of security, they want to make sure that your coins are safe. They have a very good security confirmation for all their transfers even more than other normal payments.

[Benjamin 84]

On 2/12/2020 at 8:39 AM, vivoy90 said:

Yesterday I done one transaction it takes almost 20 minutes for 3 confirmation I don't understand why so long time. Eth transactions confirmed in less then 5 minutes and xrp even in 3 minutes. 

This is true mate, so that i prefer to exchanged my bitcoin to other coins for us to be able get some savings from withdrawal fee and also to get fastly the coin like in xrp, xrp has a small amount of fee which is budgetable, and also as you mentioned that it takes 3 minutes i think its not, its just only no longer a minute. 

[doriahailee 643]

Because the network was overloaded especially when bitcoin price rising, The difficult was also increasing and the last one different with other altcoin, Example like ethereum (10-30 Secs block time), Bitcoin block was around 10 minutes so comparing to that it's little bit slow.

[Amirul Islam 382]

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.

In this time bitcoin can make transaction fee on it's own network. And lightning network is upgrade version of the bitcoin. And we can make maximum transaction in a time through this network.

[hadayt2030 85]

Yes you are right I also want to ask the same question because I am a little confused about this so please tell me something about this topic........

[Rogerz 4]

In order to increase the speed of transaction we should pay a higher fee, this is why so many people choose alternative coins as an payment method especially in small transaction.

[Sunil kumar Behera 489]

Bit coin is most used crypto currency. As it is a big platform there is a verification of address and person who withdraw.So as it is a network process it take time.

[Ali_hmwi 966]

On 1/25/2020 at 8:41 AM, kafi8 said:

 Bitcoin transactions take so long for confirming transactions  that i think 

it depends on how conformation that it take from place to place but all.the time it take time. but thatbis for the best..

[Usama rajput 2]

Bitcoin transaction take much time because Bitcoin has biggest network of blockchain and ita also has to be confirmed many time before transaction take process so thats why it takes time as much as 24 hours.

[Mr.Bit 212]

Because, bitcoin is having a traffic because of the increasing  demand for transactions per block and block size are limited, so it means that transactions can exceed the capacity for a block and get stuck in aqueues for confirmation by bitcoin. That's what i learn based on my research.

[Mizan 96]

Bitcoin transection take so long time. Becouse when you withdraw your bitcoin its need some conformation. This conformations are take time. Thats why its take so long time   bitcoin transection. 

[Irungu 4299]

Thats one thing bitcoin makes a huge mistake, because when you look at it perfectly , then you realize its transaction cost is very high and sometimes it takes a lot of delay, and thats why so many other coins are taking that time to run into the space and there are so many of them that are here to make the right idea in the same and so many like XRP are and have proven to be so much better than any other 

[MysteriousIdentity 150]

On 11/28/2019 at 2:11 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.

The information is very useful as I didn't know also why bitcoin transaction takes too long compare to other currencies that are using Lightning Network. What in my mind before reading your post is that, bitcoin transaction takes too long because of it's top notch security as what I know bitcoin transaction are more safer compare to other currencies out there. 

[MuhammadSh 3067]

this isn't a long time in my opinion!

maybe some other crypto currencies take shorter time in transactions but i think that bitcoin deserve from us to wait a few hours

[Usman Abdulmumin 354]

Bitcoin transactions doesn't take time, perhaps you use local wallet when sending bitcoin, I notice that most of the local wallet takes time before initiating transaction of bitcoin. 

[Ahmeddominik 126]

12 hours ago, MuhammadSh said:

this isn't a long time in my opinion!

maybe some other crypto currencies take shorter time in transactions but i think that bitcoin deserve from us to wait a few hours

Bitcoin is worth spreading until its price rises, we increase our profits and we make a good profit

[Iamstrong 563]

Because if you give a small Commission to the miners, they will process your transaction last. (the more money you paid for the Commission, the faster your transaction will be processed)

[George10 9932]

Bitcoin transactions do take long but sometimes it depends with the wallet you are using because some other wallets like blockchain I'm using,you can set fees according to how quick you want your transaction to be processed but normal transaction takes from 60 to 1hr.

[maxiway 44]

it is not easy to have so many transactions in one day, do you know the amount of btc that moves daily? Do you know how many miners there are? They are too demaciated, much is that the transactions do not last days.

[khan22 3478]

On 11/28/2019 at 12:50 PM, Digicoin said:

Yes, there are many sites that offer fast transaction but this is in accordance with the transaction fee. The higher the fee the faster the transaction time. Just like yobit exchange, the clearance time is short, so, transactions are fast.

Exchanges will apply so much high fee that like the blockchain is apply low fee and i used that blockchain will apply 0.12$ fee on the transaction if you send 200$ or 2 BTC the fee is same but in the exchange they apply 10$.

[gabriel gonzalez 60]

Bueno todo depende del intercambio que desees hacer, ese tipo de intercambio tardan porque ese tipo de moneda tiene un gran costo y son mu pocas las personas que tienen disponibilidad de comprarlas, aunque hay en plataforma que si hay disponibilidad grande para comprar ese tipo de criptomonedas.

[Ayush Singh 1175]

Yes it takes some time for the transaction through Bitcoin and it's good to hear from the post that due to confirm process it takes a time to finalize transaction and it's a good sign because it gives a good layer of protection to your transaction.