Why do Bitcoin transactions take so long?

[Syed Rehan 231]

I think the users of bitcoin increases day by day. And due to this reason, there is a very large traffic on the bitcoin blockchain. So, the transactions of the bitcoin takes some time to process.

[Naylor89 1223]

The transaction time for bitcoin is actually longer if there are a lot of transaction, and a lot to be verify. Thus more to pay if you want to get the transaction done sooner.

[Syedbesharat 5423]

11 hours ago, bliznec said:

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

I have zero experience with ETH,i know about BTC and i convey it.But now i will make quick search on How ETH transaction works.

[ShakilA 373]

Bitcoin transaction take long time for many reasons.Bitcoin is most used cryptocurrency.Every seconds bitcoin makes thousands transaction.This more transaction need to more time to complete

[Kuroashii 181]

As long as we received our money in good condition I do not have any issues at all. But what if there is an unexpected event and you need money right away? This would cause another problem.

[nicolas1234789 2566]

Crowded network is the main problem bitcoin transaction get delay. Billion transaction send/ receive every second and must writing in the block need time and capability to handle it. Using altcoin for alternative is good option when bitcoin get delay and high fees. Be patient and trust bitcoin as usual.

[McCree 713]

3 hours ago, SCB1234 said:

That is partly true. The congestion is a symptom of the bigger problems. The tests run by new technology projects include total throughput, so they are actively working on exactly the congestion btc faces. I like layer 2 solutions, but the central issues are the size of each block and the problems created by both extremes. Genius coders have some solutions I barely understand, but I do understand they work and some payment processors are starting to allow them in the real financial world. Btc will stay in the game because it was the first and is the biggest, so it will continue to trade hard against all other coins.

An example of congestion introduced by an influx of users was shown in the cryptokitties DApp. Even though this DApp ran on the ethereum blockchain, it was using a large chunk of the blockchain traffic. There was almost congestion there but a bunch of genius coders from metamask and grid+ prevented it by introducing some streamlining features that make the queues smaller.

 

But still if a blockchain at it's infancy can't handle all of this traffic then it will be doomed quite quickly.

[Ankit Nepal 719]

The need of demand is so high that you can't imagine. Also, there are thousands if transactions each day. The load on blockchain will be more. As a result there will be demand of more time.

[Wijayafajar06 274]

Because bitcoin has a very large Blockchain that requires confirmation and it takes a long time and a lot of mining. Many sites provide short term and are very insecure.

[doriahailee 643]

Some platform now just require 3 confirmations time which is more shorter than before beside that there already lightning network that become answer for this and also we can use some altcoin if we think it's still take a long time to be confirmed too.

[febriyana 934]

I think the confirmation taking long time to get confirmed because Bitcoin have small miner. That is right if the company behind it to mining Bitcoin, but their mining power also not really big compared to the difficulty on Bitcoin where we know always going up time to time. That is will lead the confirmation get long time. Maybe on the halving in 2020 can lead some miner also closed their operation, because they get high cost but small reward than before.

[Saif588 84]

There are many reasons behind it . Bitcoin is the best crypto currency . That's why a great amount of Bitcoin is transacted every. For this reason it takes long time to complete the process.

[pakjobhelp 1585]

Transaction of bitcoins:-

The transaction of bitcoins going to long because the bitcoins purchaser more then its seller in this way the price of bitcoins going up and the future of bitcoin is more high according to your thought. The transaction of bitcoins has no back up and more people purchase in bitcoins and hold the bitcoins for profit purpose.

[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.

I have serious concetns regarding bitcoin transaction time as mostly i faced problems in doing a bitcoin transfer if i have very less funds. So i start using ethereum to buy sell in my country.

[mani982 286]

Bitcoin transaction take longer time when we select very very low fees.Transaction time depends on fee.when fee is high then we receive our transaction fast.

[nayim123 38]

Yeah it's slow and expensive bitcoin has the hisghest miner fee it's the only thing i don't like about bitcoin

[aqua 773]

If you want to wait for the transaction to complete in a short time, you can use a high fee to make the transaction because the high fee will have priority to confirm faster than the normal fee. You can increase the fee by use more than the normal fee so that it will get confirmed from the network.

[BTC Future 3946]

Each block that contains transactions in order to be mined needs around 10 minutes for the nodes to confirm transactions. This was created as a rule in order for the network to provide safe transactions. 

[Rasheed 76]

On 11/28/2019 at 12:25 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

yes dear right bitcoin has a biggest blockchain, its take so much time

[Yanadia 1517]

Basically its free ViaBTC service transaction  but There are paid features that you can be used if transactions need to be processed in a shorter time, such as transactions during emergencies, or transactions made by developers. 

[Jeet Narayan 1940]

Yes bitcoin take so much time for transportation but as you say Bitcoin has to confirmation six time and some time it more. So many exchange withdraw very fast but some it take very much time.

[Syed Rehan 231]

On 11/28/2019 at 12:18 PM, Migo said:

Yes always there is a confirmation in bitcoin or any coin when to withdraw, but I think there is some site can provide some fast withdrawa more than others 

Yes! There are many good exchanges that are very fast for the bitcoins transactions. But  the blockchain of bitcoin is full of peoples now a days. Due to the traffic on the blockchain that why the transaction becomes late.

The onwer of the bitcoin have to overcome his thing of the bitcoin blockchain

[Win 1015]

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.

Yeah that true my longest transaction is 20hours when i sent 0.002 btc to an investment platform where soon its only scammed project.in my country when transaction is traffic it took almost 24hours

1 hour ago, Jeet Narayan said:

Yes bitcoin take so much time for transportation but as you say Bitcoin has to confirmation six time and some time it more. So many exchange withdraw very fast but some it take very much time.

Yes just like yesterday when i was withdraw in my coinbase account it tooks 3hours to be 100%confirmed,sometimes it just say that waiting for confirmations,becouse the traffics came from it and also becouse lots of users are sending bitcoins

[aqua 773]

1 hour ago, saket6 said:

This happens because their is a flaw in BTC scalability and that's why the transactions are slow.There is an issue because the transaction fees is also vey high as compared to other currencies.

I think the fee is adjustable with the bitcoin price because in about a few days ago, I send some amount of bitcoin to the other wallet, I see that the fee is not too high, is something like 5k satoshi, and it arrives in my other wallet for about less than 1 hour. I always follow the fee that the wallet suggests because I don't want to get a delay to get confirmed by the network. But that will be up to you if you wish to use a high fee or low fee, but you need to know the consequences.

[khan22 3478]

On 11/28/2019 at 12:38 PM, FlatterCar said:

A very interesting article, I recently entered the cryptocurrency movement, faced with the problem of entering bitcoin on the Binance exchange, I first sent money, and then look at them for about 10 minutes there, I was scared, and then the first confirmation passed and bitcoin came.

binance is a good exchange and in this we can make good money because binance exchange will start the trading option now in their exchange and so many good indicators are set in the binance and through that we can easily make money through just trading and binance is a real exchange.