Cryptocurrency Transaction Speed, How Fast is Bitcoin?

[Matias Conforti 89]

I try not to use Bitcoin for transfers, because of the high commissions, I try to use Litecoin or Dogecoin which are very fast for transfers and charge very low commissions

[BhenGhix 804]

In my own opinion, I assume to accept Bitcoin as the best.

Although, no one can prophecise when and how the price rise but judging from popularity,

I'm sure Bitcoin is the best.

[Mamba79 682]

The speed of the bitcoin transaction will depend on the fees you can pay, a higher fee will allow you a much faster transaction, if the fee is very low the transaction will take up to 48 hours to process

[Rosarvx 965]

when sending the currency to a wallet address, this requires a lot of time, it can take something 10 minutes and sometimes can take 1 day

[Al-mubin 301]

No bitcoin transactions are not faster. It takes a minimum of 30 min to receive or send money to any other wallet has the blockchain server network of sending bitcoin is slow compared to litecoin and dogecoin in which if you make transactions you will receive instantly. @Jovic

[mzk7736 1592]

The criteria for transaction speeds is usually size of blockchain. A good blockchain often demands more transaction fee as well like Ethereum. Bitcoin is not much slow but still its speed is less than currencies like XRP, EOS and Ethereum. 

[Quickbee 26]

Bitcoin transactions take more time maybe because of the volume of the transactions. But inspire of this, there is huge demand for Bitcoin. Transfers can be speeded up with extra charges.

[Tawari 888]

The fastest cryptocurrency transactions are not bitcoin, bitcoin is not considered a suitable option for transferring money from one platform to another, relying on ripple currency enables you to transfer and transfer money in a matter of seconds. 

[zagzag 320]

Blockchain transactions can be done 24 hours a day, 7 days a week. This means that these transactions usually occur within seconds, or hours at most. We often see Bitcoin being criticized for its very low transaction speed. Transaction speed differences between cryptocurrencies are also quite large.

 

However, it should not be forgotten that the decentralization level is largely achieved thanks to 6 transaction approvals and double spending is completely prevented by these approvals.

 

The total number of transactions per second is as follows;

• Ripple: 1,500
• Bitcoin Cash: 60
• Litecoin: 56
• Dash: 48
• Ethereum: 20
• Bitcoin: 7

[Roman Wickler 1021]

It take 15min to make bitcoin transactions.  Sometimes it takes time even more. It goes through 5 steps verification so sometimes it take times.  Normally it take 15 min . But when the amount is big it takes a little bit time.

[guatazoo 7150]

RI think mostly of bitcoin transactions are being slowly because of so many transactions are made through bitcoin, so thats the miners are working to confirm all transactions slowly different from other coins transactions. 

[selfmade 7]

2 hours ago, SAM112 said:

Bitcoin transection is fast enough if you compare it with traditional banking system. Basically transection speed is depends of miners. If lots of people mine bitcoin in that case the speed of bitcoin increased too much highly.

But how fast is bitcoin transactions compared to other cryptocurrencies out there or let say altcoins?

[Wanderdark 2178]

Bitcoin network is already at acceptable speeds however the transaction fees were rising constantly and this made many people upset.

 

However with the latest SegWit update, there has been some optimisations made in the network and the transaction speeds and fees are effected postiviely according to many experts. 

 

I hope Bitcoin continues to take updates since it is the symbol of the blockchain technology and, it is our flagship.  

[Farsa fat 328]

Well I think all of the coins here in crypto world are fast because this coins are runs through network and no network are too slowly, its just like an adaptor for you charger and the socket to your house, when you put the adaptor to the socket, its fastly get an electricity with it for just s mili seconds.

[Haley 832]

Bitcoin transaction speed is very high, it can process 5 transactions per second. But, it take time to pass a block, it means that you have to wait for 10 minutes for the verification of your transaction. 

[Faska fas 307]

I think we all know even bitcoin is the biggest coin and the oldest but non of us actually use it that much in transferring funds because its slow and has lots of fees but we use coins like TRX

[Yad hair 358]

Bitcoin transactions are sometimes be fast while there have many miners activated at that time, but if you see its too slow does it means that's day there have many transactions but few miners

[Jacky clark 368]

Bitcoin must always increase its transaction speed because it is very important for bitcoin to be the biggest coin, because every second there is always a transaction and not to make a pending. not only bitcoin, but other coins must also do the same thing.

[Robert William 590]

I personally think that bitcoin is not as fast as the other cryptocurrency there is in the market and for the wallet that I am using, it would tend to cost more if you want your bitcoin to be sent fast, comparing to ripple, with low transaction fees it is pretty good and fast

[Garion hirao 550]

Bitcoins transaction speed is about 10 minutes, it is one of the slowest coin when it comes to transaction speed, as for supply its supply is very limited and its almost reached its limit, the good thing about bitcoin is that over time it became a store of value.

[Wane Rastuar 583]

Sometimes the transactions are not fast, I think this is depending on the network too, it is true that bitcoin is the most valuable coin now but also he has some disadvantages like every other coin, and if you paid a lot money as fees, then you will receive your payments quickly

[Cryptolover😍😍 990]

Dear mate the transaction of Bitcoin is not so high as compared the other coins transaction speed depend on the transaction fee. If you transfer the coin at high rate the it will transfer speedly as compared the normal and low level.

[Idaho Bruk 573]

Ok bitcoin is the most popular coin, but in terms of scalability bitcoin lags for example compared tk XRP that can process up to 50000 transactions per secon , when bitcoin can handle only 7. With lightning network it's scalability should improve

[Shahin3864 101]

The Bitcoin transaction took place a few days after it ended. So when the speed of the transaction continues, the result may decrease. Bitcoin scalability problems are sometimes present due to block size limitations.

[guatazoo 7150]

On 1/7/2021 at 12:10 PM, Farhana09 said:

Dear friend, as far as I know, the price of Bitcoin is not very good now. The main reason is Corona virus.  Now you can gain experience from here. Because at this time you have a lot to learn from those who buy and sell. If you want to transact fast, then you need to know the crypto upgrades.

For me I actually couldn't see any corona virus effects to bitcoin, because the bitcoin price were still increased while corona become a very seriously pandemic.