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Author Topic: how long does transaction take  (Read 304 times)
serveria.com
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February 04, 2023, 07:29:25 AM
 #21

Bitcoin transaction can take 1, 2 , 3 or more minutes, it can take more than 10 minutes too. It depends on when the next block is mined and that can take less than or more than 10 minutes. But be expecting a time not far away from 10 minutes.

Yes, 1 sat/vbyte transaction can be confirmed early. It depends on how congested mempool is.

Use this to know the feerate to use: https://mempool.space
For advanced users: https://jochen-hoenicke.de/queue/#BTC,24h,weight


Transaction has been 2hours now and not confirmed

I don't know where the guys are taking this 10 minute transaction time from. I send 1sat/byte transactions regularly and it can take up to 24h to get confirmed. 30 minutes to 1 hour is EXTREMELY FAST, 2-5 hours is OK, 12-24 hours is slow. In any case, even 24h is ok with me, I'm planning my transfers beforehand.
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February 04, 2023, 07:55:10 AM
 #22

I don't know where the guys are taking this 10 minute transaction time from.
That's the average block time.
If the fee rate you use for your transaction is high enough so that it's within 1 vMB of the tip, it would take 10 minutes on average for your transaction to receive the first confirmation. 
The fee rate required to be used for getting confirmation in the next block depends on how congested the network is. Sometimes, 1 sat/vbyte is enough.

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February 04, 2023, 07:55:31 AM
 #23

I don't know where the guys are taking this 10 minute transaction time from.
Because blocks are mined every 10 minutes on average and transaction are confirmed along, some people thought the 10 minute average means every 10 minutes, transaction are confirmed, not knowing that it can take less and more than 10 minutes.

I send 1sat/byte transactions regularly and it can take up to 24h to get confirmed. 30 minutes to 1 hour is EXTREMELY FAST, 2-5 hours is OK, 12-24 hours is slow. In any case, even 24h is ok with me, I'm planning my transfers beforehand.
It depends on how congested the mempool is, if the high fee priority is 1 sat/byte, paying lowest amount for fee can possibly get the transaction confirmed when the next block is mined and it may take less than 10 minutes or not longer much than 20 minutes.

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