Cryptocurrency Transaction Speed, How Fast is Bitcoin?

[lharost 1526]

On 4/23/2020 at 11:54 AM, Basad said:

Unlike other coins they are very fast in terms of making transactions BTC is slow and using lightining nods to accelerate the transaction the charges fees is high

Yes most other coins are faster than bitcoin and some of them even have transactions that will be completed in just a few seconds, but we should be fair and consider the fact that bitcoin is older than all other altcoins and in 2009 the transaction speed of bitcoin was pretty good and we should not compare it to today's standard.

[Mohssine 1725]

No bitcoin is not the fast cryptocurrency in transactions , i don’t know witch one , but  not bitcoin . But for me i don’t need fast in transactions i want the trust of cryptocurrency , and for me and many people the most coin we trust is bitcoin.

[CryptoLover21 0]

Transaction of cryptocurrency is very fast than transaction of paper money through bank. Bitcoin is most transaction in the history of crypto world because people trust on bitcoin than others. 

[Wilmer Garcia 0]

Currently Bitcoin transactions are not the fastest there are other cryptocurrencies like Litecoin that are very fast when making a transaction

[DreamStage 2105]

I was actually expecting some informational explanation from the OP's but all i get was a retorical affirmation =/

 

Anyway all depends on the technology the currency is using such as Lightning network and how much miners are able to produce blocks so that transactions become way more faster.

 

On the current situation you can see that there are so many transactions being held at the network becuase of demand being so big and due to latest halving:

https://www.blockchain.com/charts/mempool-size

[P A Ashif 2409]

Usually transaction in Crypto currencies are very slow. That is one of the reason that most of the users don't accept cryptocurrency. There should be some system to increase the speed otherwise it will not be accepted world widely. 

[Cammer 4609]

On 1/27/2020 at 11:10 AM, aneukkameung said:

In the world of cryptocurrency, there are several criteria for a coin that is categorized as successfully used by the public, namely speed, price, supply and demand (supply and demand).

The faster a coin, the more transactions can be done. In this article I will explain how quickly transactions are needed by famous cryptocurrency.

Transactions speed for Bitcoin is basically dependent on how much you put in the fees. The more fees, the higher the priority is, the faster the transactions are.

[bitcoin-shark 1928]

The speed of Bitcoin transactions is given by the size of the fee the higher we put the fee the faster the transaction will obviously be, when the price of Bitcoin also goes up the average value of the fee go up if we want fast transactions must therefore necessarily put high fee with the low one it can take up to 24 hours for a transaction

[Magnom 0]

Maybe bitcoin transaction is slow if we compared it to another cryptocurrencies like ripple or trx.. But many people still prefer using bitcoin and don't like to convert their money to another cryptocurrency! 

[AmjadBydn 0]

Yes you're right my friend and we can notice that from our using for Yobit ! When we want to transfer bitcoin it take too lomg time ! So we convert bitcoin to Waves pr Doge because it's faster 

[Zalaks007 543]

When doing bitcoin transactions or transfer, it always takes time before it arrives and it also has a high transaction fee but Ethereum or Ripple is fast and has less transaction fee.

[Jeet Narayan 1940]

I guess all coins transaction is very fast but that all coins take very much time for confirmation. Bitcoin average confirmation time is around 10 minutes and others coins also taking 5 to 10 minutes for confirmation.

[Brushless4500KV 4214]

The slow speed of bitcoin (about 4.6 TPS) is really annoying in some cases. About two days ago, I sold some BTC to receive USD. I sent BTC to the address provided to get my fiat. I placed my conversion order at $10.000 per BTC. However, when I sent my BTC, the transaction remained unconfirmed for about 40 hours! During this time, bitcoin price fell to $9600 but that exchange was generous enough to pay me with the exchange rate at the time of submitting the order. Sometimes miners are too lazy to take transactions with lower fees.

[koussai999 1986]

Supply and demand are the basis for many things, especially valuable things like gold, petroleum, and cryptocurrencies are what you give financial value for sure and people's confidence in them is the basis for that.

[Laboni 755]

Bitcoin price increases depending on the demand of the crypto market Bitcoin's pace is accelerating as its demand increases Working in crypto helps us financially but it depends on the type of work we do. If we invest in the right way its value will increase.

[Jessica Karren 1242]

The Bitcoin transactions times vary. It can take something 10 minutes and sometimes can take 1 day. The block size is limited so the transactions which exceed the capacity get stuck in queue for confirmation from the miners.

[BTC Future 3946]

On 6/4/2020 at 2:39 PM, Jeet Narayan said:

I guess all coins transaction is very fast but that all coins take very much time for confirmation. Bitcoin average confirmation time is around 10 minutes and others coins also taking 5 to 10 minutes for confirmation.

Basically 10 minutes is 1 confirmation and this is not considered safe. There is a chance for double spend with just 1 confirmation. Most services would require 6 confirmation to accept the deposit, and this would mean 60 minutes time for a transcation to be confirmed.

[Sarahden111 1231]

For the transfer between platforms and wallets, Bitcoin is a bad choice, as the transfer process is somewhat slow, as are the fees, and there are many better currencies in this regard, starting with litecoin, xrp and trx, where they are fast and low fees compared to Bitcoin.

And Of course, when you want a fast transfer, you have to pay a higher fee, and this is not good with Bitcoin

[Projectcrypto 4382]

Bitcoin has a good strong powerful project and since it is running under the blockchain technology I think it the fastest in terms of accomplishing transaction users make in cryptocurrency world and again bitcoin appeared to be the most secured coin due to the hashes created by miners in blockchain, the more hashes are created the stronger bitcoin becomes in terms of security.

[Honny143 13612]

On 5/12/2020 at 11:02 AM, Mohssine said:

No bitcoin is not the fast cryptocurrency in transactions , i don’t know witch one , but  not bitcoin . But for me i don’t need fast in transactions i want the trust of cryptocurrency , and for me and many people the most coin we trust is bitcoin.

You're right bitcoin transaction confirmed speed not good compared to other altocoins, ripple coin confirmed very speedily, bitcoin transaction takes up to 15 to 30 minutes,  and its depends how much fees we pays block chain technology strong and secure but speed little bit slow.

[malik6314193 5449]

The transaction speed of crypto currency is too low as compared to others. Like Tron and XRP have fastest transaction speed as compared to etherum and bitcoin. 

[Moaz 7239]

I do not think that the speed of Bitcoin is good at the moment, and if you want to complete the transaction as soon as possible, you need to pay higher fees. Two weeks ago, I sent 50 thousand satoshi and this transaction took more than a week to finish!

[Tunuu 2235]

Bitcoin transactions depends with fees and a site that you deposit or withdraw. There are some sites will complete your transaction in 5-10 minutes, some hours or even days! So it depends with the site and fee.

[Mcd0d0 5882]

On 1/28/2020 at 10:28 AM, Benjamin said:

all of the coins here in crypto world are fast because this coins are runs through network and no network are too slowly,

Well, when it comes to transactions, there are some coins which is too slow like bitcoin and ethereum, when you withdraw this two coins, you will wait for 15 to 20 minutes unlike ripple, this coin has a fast transactions by receiving it by just a minute.

[Sugibengi 390]

On 1/27/2020 at 4:10 PM, aneukkameung said:

In the world of cryptocurrency, there are several criteria for a coin that is categorized as successfully used by the public, namely speed, price, supply and demand (supply and demand).

The faster a coin, the more transactions can be done. In this article I will explain how quickly transactions are needed by famous cryptocurrency.

There are coins that aim for transaction speed like Ripple, ripple focuses on the ripple network which offers fast transaction speeds so this coin is suitable if you want transaction speed. In my opinion, the speed of bitcoin transactions is not as fast as Ripple, because bitcoin is only intended as a substitute for a transaction tool, namely a substitute for fiat, if you want the speed of sending bitcoin you can use the Lightning network.