Crypto traiding speed

[nennanem]

I used to think about crypto transaction speed. And sometimes it's an extremely long procedure to see it done. Maybe, it's one the main reason, why the crypto traiding hasn't conquered the whole world. An interesting article explains this situation https://cryptogeek.info/en/blog/blockchain-transaction-speed. It says that there are some risks and difficulties which are stopping the exchanges from really fast transactions. I hope some exchanges are able to resolve that issue. I used to trade a bit and I see that some btc or eth operations could take days to finish. Wha'd you'll think? How to escape from long and slow transaction?

[Tytanowy Janusz]

Trading on centralized exchange does not require coins to actually move on blockchain. It is only change of ownership written in exchange books. Trades are instant. On binance there are hundreds of them per second. They are blazing fast. The case that you are talking about are coin transfers and it has almost nothing in common with trading. To transfer Fiat to traditional stock Exchange you also need to wait for hours (ELIXIR SESSIONS) or pay extra (just like with bitcoin - your transfer will go in next block (0-10min) if you pay high enough).

[btc_angela]

I used to think about crypto transaction speed. And sometimes it's an extremely long procedure to see it done. Maybe, it's one the main reason, why the crypto traiding hasn't conquered the whole world. An interesting article explains this situation https://cryptogeek.info/en/blog/blockchain-transaction-speed. It says that there are some risks and difficulties which are stopping the exchanges from really fast transactions. I hope some exchanges are able to resolve that issue. I used to trade a bit and I see that some btc or eth operations could take days to finish. Wha'd you'll think? How to escape from long and slow transaction?

Stop with the click bait article here, for those who don't want to click the link below, the OP is promoting Freewallet and Changelly, which we all know has a lot of negative and scam accusations from this community.

FREEWallet.org is a SCAM
Freewallet.org is a fraudster who cheated me out of 15.2BTC
FREEWallet.org stole 55 000$! be careful SCAM


Is CHANGELLY SCAM EXCHANGE?
[SCAM] Warning - Changelly
Changelly.com Scammed Me - Took Approx 80% in FEES!!!!

[capitan_rocotan]

I used to think about crypto transaction speed. And sometimes it's an extremely long procedure to see it done. Maybe, it's one the main reason, why the crypto traiding hasn't conquered the whole world. An interesting article explains this situation https://cryptogeek.info/en/blog/blockchain-transaction-speed. It says that there are some risks and difficulties which are stopping the exchanges from really fast transactions. I hope some exchanges are able to resolve that issue. I used to trade a bit and I see that some btc or eth operations could take days to finish. Wha'd you'll think? How to escape from long and slow transaction?

Thanks for sharing the article. I really enjoyed my reading. Among the wallets I've tried, mentioned here Freewallet has rather fast transaction speed.

[jossiel]

Each crypto does have its own speed. But I don't think that is the reason why it stops many people from trading. In all honesty, people want to trade bitcoin and other cryptocurrencies when they've learned how much the market gained for the past years.

The volatility which is it's nature gives them chill and excitement to trade. The transaction speed though is a big factor but I don't find my transactions lately are too slow to be disappointed.

[lepbagong]

usually delays because the fees given for transactions are a bit too small and not comparable. then there will be a long queue, but we can not do anything else because it is the policy of the exchange that determines how much fees must be provided. because many exchangers are looking for a fee that is not too expensive which results in the queue.

[snipie]

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Take a look on the second post by Tytanowy Janusz it says all.
I used few exchanges and the coin transfer was instant after paying fees because simply it doesn't require confirmation since it is off chain.
There is other services where you send coins to it, wait for confirmations, then they will send back the other coin to you, wait for its confirmation so it can be seen in your balance (changelly for example).

[BrewMaster]

-snip-

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Take a look on the second post by Tytanowy Janusz it says all.
I used few exchanges and the coin transfer was instant after paying fees because simply it doesn't require confirmation since it is off chain.
There is other services where you send coins to it, wait for confirmations, then they will send back the other coin to you, wait for its confirmation so it can be seen in your balance (changelly for example).

when you send some amount of a cryptocurrency to an exchange it is on-chain until it reaches the exchange and that is the part that takes a lot of time specially for altcoins since all exchanges are worried about double spend attempts since it has happened in the past many times with many altcoins. so they have to require a large number of confirmation. for example i remember a couple of years ago the altcoin exchanges were asking for 500,000 confirmation on some altcoins which could take a couple of days before they credited their accounts.
that is the only way OP's post makes any sense. keep in mind that some traders don't keep their coins on exchanges so when there is an altcoin dump for instance they have to first deposit, wait for confirmation then dump.

[Rengga Jati]

I used to trade a bit and I see that some btc or eth operations could take days to finish. Wha'd you'll think? How to escape from long and slow transaction?

Seriously take some days? Well, it may happen if the traffic is so crowded. But, in the normal condition, I found no problem with the transaction speed. Commonly it only takes some hours. Moreover, if I increase the fees, I can get in only in an hour. It will depend on the blocks that it is passing through. Additionally, it will also depend on the platform, exchanges, wallets, and others. Moreover, when it is on exchanges, it will only take less than an hour. So, I think it is too worry about spending some days of transactions.

After reading the comment from @btc_angela, I directly opened the link and found it.

Stop with the click bait article here, for those who don't want to click the link below, the OP is promoting Freewallet and Changelly, which we all know has a lot of negative and scam accusations from this community.

Here we go, the exact meaning of this thread is on the article subheading "Solutions & Examples".
This is part of the quote on the article:

For example, in a joint effort, Freewallet and Changelly have provided their users with a feature of fast exchange transactions. Reportedly, they get executed in 3 minutes at worst.

I think that everyone should be more careful in deciding or using the third party for your transactions. or you must be also very careful to choose the platform for your transaction. It may offer a high-speed transaction, but ensure that "safe and secure" are better to consider at first.

[lumeire]

I used to think about crypto transaction speed. And sometimes it's an extremely long procedure to see it done. Maybe, it's one the main reason, why the crypto traiding hasn't conquered the whole world. An interesting article explains this situation https://cryptogeek.info/en/blog/blockchain-transaction-speed. It says that there are some risks and difficulties which are stopping the exchanges from really fast transactions. I hope some exchanges are able to resolve that issue. I used to trade a bit and I see that some btc or eth operations could take days to finish. Wha'd you'll think? How to escape from long and slow transaction?

The problem is the fees that you pay for your transaction to propagate through the network. All the miners are after the transaction fees that people pay for their transactions, so the pools are always adding the high priority transactions to the blocks first and then the transactions having comparatively low priority comes. So if your transaction is having below average fees then it can take days to get a confirmation or maybe it will get rejected and will come back to the sender address. So pay a little above average of you want your transaction to be processed within an hour and you will be fine.

[Nhor1011]

Well,I experienced only a long transaction in some small exchange i used which is not operate very well.But on other exchange ,it just take a minute to less than an hour. I didn't found and encounter any problem with the transaction speed and if i can increase the fees it become more faster. So,the transaction speed i think is depend on the exchange and the amount of fees you will pay.

[Blue_oxen]

Well,I experienced only a long transaction in some small exchange i used which is not operate very well.But on other exchange ,it just take a minute to less than an hour. I didn't found and encounter any problem with the transaction speed and if i can increase the fees it become more faster. So,the transaction speed i think is depend on the exchange and the amount of fees you will pay.

It mostly depends on the exchange that you use. The reason is that there's not a lot of traders who use small exchanges, therefore, it'll take longer to find a buyer/seller on those exchanges. I don't think the transaction fee is a factor that affects trading speed since all the exchanges charge a fixed amount of fee.

[Tytanowy Janusz]

Take a look on the second post by Tytanowy Janusz it says all.

that is the only way OP's post makes any sense.

I think that not mine post says all but btc_angela. I think that OP just make short post to promote Freewallet and Changelly and we all were lured to bump his topic (trying to figure out what is OP trying to say). Just stop it and let this thread sink and be forgotten because it has no use case other than promoting possible scam.

[milandres0207]

I used to think about crypto transaction speed. And sometimes it's an extremely long procedure to see it done. Maybe, it's one the main reason, why the crypto traiding hasn't conquered the whole world. An interesting article explains this situation https://cryptogeek.info/en/blog/blockchain-transaction-speed. It says that there are some risks and difficulties which are stopping the exchanges from really fast transactions. I hope some exchanges are able to resolve that issue. I used to trade a bit and I see that some btc or eth operations could take days to finish. Wha'd you'll think? How to escape from long and slow transaction?

I don't know, but what is written in the article for me still remains an opinion by the author.
Because based on my experienced when we made a transaction if the fee is a bit small it may take a long time before the transaction is complete. That's what I remembered, where if you want a fast transaction you should give a higher fee to make it done completely something like that.

[coiner-88]

Cryptocurrencies because they're not regulated by FINRA or the SEC like stocks and options. The market data displayed in this demo is not real time. You'll never receive less than the amount you enter to sell your specified amount of a cryptocurrency. Most of the people dis-advantage to trading Crypto is higher fees that eat into each trade.

[hulla]

Cryptocurrencies because they're not regulated by FINRA or the SEC like stocks and options. The market data displayed in this demo is not real time. You'll never receive less than the amount you enter to sell your specified amount of a cryptocurrency. Most of the people dis-advantage to trading Crypto is higher fees that eat into each trade.

Cryptocurrency exchange not been regulated by government institutions is not the reason behind exchange delay in transaction and theres some exchange site that already figure the perfect solution transaction delay. However, exchange fee is never a problem these days since there are numerous exchange site with reasonable trading fee.