Cryptocurrency Transaction Speed, How Fast is Bitcoin?

[Sykkuno 2887]

Bitcoin is not as fast because of the security restrictions. The block times are adjusted every two weeks and difficulty is rising to keep them at a distance of 10 minutes each. It is not the fastest coin but there are some services that accept zero confirmations and this is instant. Of course zero confirmations is a little dangerous and there are some that try to exploit these. Although there is also the Lightning network that is being developed and will make transactions free and instant.

[Goyaa 2414]

Bitcoin has no transaction speed, it can only process 3-7 transactions per second. This is because bitcoin does not aim to prioritize its speed, it takes 25 minutes for transaction confirmation. The focus of bitcoin is security and also as a means of buying and selling transactions between countries.

[sarahmoses202020 251]

Bitcoin isn't fast compared to other crypto currencies, but it is still by far the most traded currency. This shows that people are still willing to make bitcoin transactions more than other crypto currencies despite being slower than them.

[muniral4422 185]

When it comes to the speed of crypto currencies, bitcoin is left behind. Ethereum, litecoin and xrp are much more faster than bitcoin even though they have less market capitalization. I believe that bitcoin is still the best despite the slow transactions.

[MalikAdnan 1662]

There are many coins that te used for very fast transaction speed. But bitcoin is the one of them. It is very fast and highly confidence people use it for the sending money one country to another.

[khan22 3478]

Crypto currency transaction is so much fast and it depend on the market situation becasue if the transaction is slow than the market is busy becasue if the so many peoples send the coins from one wallet to another the speed is slow than.

[VijithaVarghese 1994]

The trading and transactions of Bitcoins are quite fast in the cryptocurrency market. This is a really convincing and comfortable aspect for the users. The more technologically advanced these currencies adapt the more faster they become.

[BraveHeart01 1569]

The transection  speed is based on the amount that you want to transfer the big amount is more with the big transection fee and the miner  will pic that one easily.

[cryptovlek 2597]

Bitcoin is the same fast since the day it was created. The speed of transactions is 10 minutes between blocks. Some wallets accept zero confirmations so speed is instant for them. Other wallets demand 6 confirmations so the time is 1 hour for them.

[Fixfin 2569]

There is also security and decentralization. The coins that only care for speed have difficulties in the other two and as far decentralization it means only Bitcoin has this feature, the others don't.

[annayks 2314]

Each cryptocurrency have different standards, if speed is all you are looking for you can use xrp, tron, doge, nano or more that can be lightning fast, but if you look to invest in a stable network that will not be centralized like xrp or tron and won't be a meme coin you should go with Bitcoin.

[Malikjnb 1235]

Bitcoin is the best coin. It's transection is faster than the other coins. If you are using wallet like yobit. It's transaction fee is very low. The good thing is that bitcoin upgrades that will increase transection speed.

[Mella 3680]

I am not know this my dear, why are you interest in speed, this means you maybe invest in a scam then and lose your money. Take a look at the market prices, invest in a coin that is fast and maybe the price will dive faster. I am like the Bitcoin transaction as it is.

[yonkii 3205]

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

In this article I will explain how quickly transactions are needed by famous cryptocurrency.

Where is the article? I was expecting to read what this guy wanted to discuss but found nothing except an introduction. Perhaps you were too fast and too caught up with the speed and you didn't finish. Perhaps this is a problem with speed in cryptocurrency transactions, some may have mistakes, some may get double spend too.

[Froshk 1828]

Transaction On the Bitcoin network is aguebly the slowest amongst major cryptocurrencies, the average confirmation time for a BTC payment is about 10 minutes 

And these is due to the complexity of calcux involved in confirmations 

[zhoutong 2188]

Bitcoin has a certain way to perform transactions. Miners gather transactions from the transaction pool and select first those with higher fees. Every ten minutes a block is mined and the transactions are validated in the network. To have fully confirmed a transcation six confirmations are required.

[Frodler 943]

Offcourse bitcoin is not the fastest of cryptocurrencies when it comes to speed of transactions, but sometimes it depends on the volume being transacted, also on an average it actually takes up to 11 minutes 

[setifien 1016]

5 hours ago, Kareemramzy83 said:

Bitcoin is the best in everything. Very fast in transactions and trading and all things, which is a good work in investment and very excellent in transactions, but I do not like high fees only in bitcoin. This is the matter

I think there are other coins (altcoins) that perform better than btc in term of transaction speed, like ltc, trx and usdt(trc20) which take a very short time to confirm the transaction, in addition, btc transaction cost a bit more than other coin transaction (high fees)

[Zeshan Khalid 2577]

Bitcoin is a large currency with large number of transactions daily. It needs to confirm a transaction 6-7 times so it's transaction speed is a bit compromised. That too because of its popularity and number of transactions happening everytime 

[DanielMcRon 598]

The market is very well influenced by Bitcoin. If Bitcoin falls, then the entire market falls. It does not matter what the demand will be, if Bitcoin falls or rises, then the coin will follow it accordingly. And then it will already adjust the price from external factors

[teebasas 3018]

Transactions in cryptocurrencies take place faster than the rest of the transactions but transaction of bitcoin is the slowest compared to other currencies. Also the more the fees, the faster the transaction.

[scofield64 943]

Cryptocurrencies transaction speed is very fast. The transaction speed for bitcoin is not that fast compared to other coin like ethereum. The transaction speed for bitcoin will take 2 to 3 min or even more but its takes less than 1 min for ethereum. If you want fast transaction in bitcoin you need to pay fees to miners. 

Edited December 18, 2020 by scofield64

[Nicole018 4548]

It is as fast as any Fiat currency transaction. Funds can be transacted from one source to another with the touch of a button. I am sure with time this is only going to improve and there would be no compromise regarding these speed and accuracy of transactions executed. Internet capabilities play a huge role in this.

[mohamedpc1 2213]

I think that the most important thing is the project and working to develop it because there are several currencies whose price is high and the demand for them is great, but they do not have any project, so with time they will disappear because the project is what determines your survival and the ability to continue you a lot

[Zafar123 906]

Bitcoin processes 4.6 transactions per second. Visa does around 1,700 transactions per second on average (based on a calculation derived from the official claim of over 150 million transactions per day).