Assets, Bitcoin

How Long Does It Take for a Bitcoin Transaction to Go Through?

When it comes to Bitcoin, transaction times can vary greatly. Transactions can be confirmed as quickly as 10 minutes, or they could potentially take hours or even days to go through.

The main reason for this variation is the ever-changing Bitcoin network difficulty.

When a transaction is first broadcasted to the network, it is then picked up by what are called Bitcoin miners. These miners are powerful computers that confirm the transactions by solving complex mathematical problems.

NOTE: Warning: Bitcoin transactions can take up to 10 minutes to process. Do not expect a transaction to go through immediately. Fees can also vary depending on the amount of data in the transaction, so be prepared for possible delays. Additionally, there is always a risk of a double-spend or other attack on the Bitcoin network that could delay or invalidate your transaction.

The first miner to solve the problem then broadcasts the solution to the rest of the network.

Once a transaction is confirmed by a miner, it is then said to have one confirmation. However, most Bitcoin exchanges and wallets require at least three confirmations before they will credit you with the Bitcoins you’ve purchased or that have been sent to you.

Each confirmation takes an average of 10 minutes but can take much longer depending on the current network conditions. So, if you’re waiting for your transaction to go through, be patient! It may take a little while, but eventually, it will be confirmed.

1 Related Question Answer Found

How Long Does It Take to Get 1 Bitcoin?

It takes about 10 minutes to mine one Bitcoin. The average block time is 10 minutes, and the network difficulty is constantly adjusting to make sure that blocks are found on average every 10 minutes. There are a total of 21 million Bitcoins that can be mined, and as of July 2019, there are about 17 million Bitcoins in circulation.
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