Why do Bitcoin transactions take so long?

[Mcd0d0 5882]

On 2/29/2020 at 12:27 PM, Corona61 said:

This is the major weakness of bitcoin. Mining bitcoin takes more time than other coins because each bitcoin block takes ten minutes to mine. Another reason is that the number of bitcoin transactions is very high compared to other coins.

This thread is all about to transactions not mining, try to read the topic first before you reply to this thread, i hope you may understand mate, happy posting.

[Bruno52 1141]

You can avoid the long wait of transferring bitcoin by using litecoin which is faster than bitcoin and it also has a lower transfer fee than bitcoin so that you will not lose too much of your earnings.

[Captain Karim 0]

I suspect that the Lightning Network will be one of the solutions to increase the network speed, so far it is still under development and may become much faster than Visa or any other transferring agency.

[Jmax555 6]

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

Yeah i'm also think same of you.bitcoi. is also one of the best coin in crypto market.now people are use bitcoin more than other coin for transaction.that's why i think bitcoin need more time for transactions.   

Edited March 5, 2020 by Jmax555

[Sohan Ahmed 30]

Bitcoin transaction takes some long time for complete.

Because, of their security reason.

A successful transaction is complete by passing 6 confirmations.

That's why it takes some time.

I hope you got your answer.

Thank you dude!

[CryptoMaxim 3829]

How do I know the transaction rate depends on the allocated rewards to the miners the lower the reward the less the speed. And you also need to take into account the total number of transactions at that time.

[championboy 8]

I like this article, good information available in this article,exceptionally intriguing article, I as of late entered the digital money development, confronted with the issue of entering bitcoin on the Binance trading.

[Jakson boy 0]

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 somecircumstances. 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 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.

[Najim 1947 0]

I think it sounds good to test the information and make sure you want to continue the process
That's right, the transaction must be confirmed six times before sending it, causing it to slow down

 

[magd 5231]

This is true, thank you, my friend, for participating. Bitcoin currency transactions take time when this matter may delay the entry of funds into the investment. We note that there are some deals that sometimes need speedy entry of funds and it may be necessary to transfer them to another currency and this may lead to the loss of those deals

[Karani 99]

That’s right! While some transactions are complete within minutes, others can take an entire day. The root cause of these delays is the rising number of transactions in a single block. Because blocks are small, the transactions often exceed their capacity increasing the time they remain in the confirmation queue.

[AbdulKhan1033 2]

Since there is many users to apply for withdrawal of money and there are scammers and hacker therefor there is need to confirmation several time for successful transactions 

[teminalibug 309]

7 hours ago, juos1s said:

Bitcoin uses the blockchain, I think it does not take much time, maybe you are quite strict, I find that time acceptable and it is necessary for your safety.

There were times when bitcoin too more than  24 hours to get confirmed, i don't think that time is acceptable in the mind of an investor.

[deepown 0]

2 hours ago, TanTinBit said:

The fee used for the transaction is so low and the transactions got studied but can be corrected if you increase the transaction fee. 

Sometimes i have experienced posting delays even after bigger fees, and sometimes i don't really see the difference between bigger and average fees.

[Upright 2688]

As I know, the way in which the Bitcoin protocol was initially created, the transaction speed was of that is 5 transactions per second as to compare to that of light weight coins of the new whose transactions speed are much faster

[MrGeany 297]

well it was designed that way to be more secure and not easy to fake and hack bitcoin transactions. but i don't think that it takes too long it is a good trade for safety design.

[Nezar 7169]

The transactions for bitcoin are transferred according to the fees that you pay. The larger the fees, the faster the transfer will be, and you are right. We have to confirm to Aekh times before doing any dispatch.

[teminalibug 309]

56 minutes ago, Jake2 said:

Bitcoin transactions cause a lot of traffic. I think that's one of the reasons why it's taking a long time. Bitcoin transactions are usually slow because the amount of people using it and traffic generates it. So it's better to convert bitcoin ethereum or lightcoins before selling.

If that is so then it means in 5 more years bitcoin transaction would be even slower because it will have  a lot of traffics, So if that is so, then Nakamoto did not foresee this, one of the things he missed.

[AmjadBydn 0]

Yeah I have the same problem when I want to transfer my bitcoin to my wallet ! but then I tried to convert my bitcoin to Waves then its very fast its just take 5 min !

[Megalovox 707]

It usually depends from number of transactions in bitcoin web right now, so time of transaction in always defferent. I was waiting for 20 mins, and i was waiting for 3 hours  

[Whited35 15285]

Generally Bitcoin transactions do not take so long to process your request however it is related with the terms and the technology followed by the different  exchange sites or the wallets where you have stored the Bitcoins. Generally Blockchain of the Bitcoin is fast. 

[rianpedia 816]

On 3/15/2020 at 1:45 AM, AmjadBydn said:

Yeah I have the same problem when I want to transfer my bitcoin to my wallet ! but then I tried to convert my bitcoin to Waves then its very fast its just take 5 min !

Maybe there are a lot of queues on bitcoin transactions, it has to wait. wise decision, because the price of a bitcoin withdrawal is very expensive it needs to be converted to another coin.

[Raven 7817]

4 minutes ago, Dguy said:

it's manner in that day there have many transactions made purchase users however there has no sufficient miners.

What do you mean made purchase users? The only thing they need to purchase is the amount of that currency they wanted to used for withdrawing or depositing money. Can you please elaborate yourself because i don't get your point clearly. Thanks. 

[Lover840 0]

On 11/28/2019 at 11:41 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.

Hi there, i dont know much about it. Maybe it's because there are a lot of daily transactions in bitcoin blockchain that why it's transaction are slow because of sever traffic? 

[Babubu609 0]

On 11/28/2019 at 9:43 AM, Sujon33 said:

Bitcoin is the most used cryptocurrency.Every second bitcoin has completed millions of transaction.There too many traffic in bitcoin transaction.I think this is one of the reason for take lon time

Bitcoin is full of traffic because of the kind of transactions that take place with it in everyday work