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geyayy (OP)
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September 24, 2017, 05:42:53 PM |
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How long does it take for a transaction to be confirmed? I know that this is always asked here, but I can't find the thread. I have sent a small amount to my friend, and he still don't receive it. So I am just bothered that he may not receive it. Thank you in advance!
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emuLOAD
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September 24, 2017, 05:46:14 PM |
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How much did you set as your transaction fee? sometimes excessively low fees can cause your transaction to get stuck waiting for someone to pick it up.
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Merovius
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September 24, 2017, 05:48:48 PM |
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On the last transaction that I sent (about three days ago) it did not take very long to receive at least one confirmation -- about two to three minutes. I used the settings for the "recommended fee" amount. For a previous transaction I had tried setting the fee lower than the recommended setting and it took much longer, about two weeks before having it confirmed.
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geyayy (OP)
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September 24, 2017, 05:50:33 PM |
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How much did you set as your transaction fee? sometimes excessively low fees can cause your transaction to get stuck waiting for someone to pick it up.
I have used the blockchain's application on mobile, and I didn't know that you can select transaction fees. I just clicked the send button. |
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geyayy (OP)
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September 24, 2017, 05:53:20 PM |
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On the last transaction that I sent (about three days ago) it did not take very long to receive at least one confirmation -- about two to three minutes. I used the settings for the "recommended fee" amount. For a previous transaction I had tried setting the fee lower than the recommended setting and it took much longer, about two weeks before having it confirmed.
Oh, man. I think I selected the wrong amount for the fee. Anyway, thank you for answering my question. It is my first time sending bitcoin though. I usually convert it first before sending it. |
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John Wick
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September 24, 2017, 05:54:51 PM |
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How long does it take for a transaction to be confirmed? I know that this is always asked here, but I can't find the thread. I have sent a small amount to my friend, and he still don't receive it. So I am just bothered that he may not receive it. Thank you in advance!
It's totally up to the fee you enteres before you generate your transactions. If you use an extreme high fee, you first confirmation will come in seconds or minutes probably. |
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ZaoXhou
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September 24, 2017, 05:55:28 PM |
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On the last transaction that I sent (about three days ago) it did not take very long to receive at least one confirmation -- about two to three minutes. I used the settings for the "recommended fee" amount. For a previous transaction I had tried setting the fee lower than the recommended setting and it took much longer, about two weeks before having it confirmed.
Oh, man. I think I selected the wrong amount for the fee. Anyway, thank you for answering my question. It is my first time sending bitcoin though. I usually convert it first before sending it. If your fee is way too low, your transaction could be stuck for a long time. |
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kamikadze69
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September 24, 2017, 05:57:12 PM |
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it usually depends on the fee you use. but the queue also affects, because we do not know how the queue is going on when we will do the transaction. but if you use a large fee, I think it's also very influential.
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Henrobakkara
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September 24, 2017, 05:58:28 PM |
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So the higher fee is the best?
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_noname_
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September 24, 2017, 06:01:02 PM |
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So the higher fee is the best?
Is the most fast |
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Merovius
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September 24, 2017, 06:05:11 PM |
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So the higher fee is the best?
Using a higher fee is better if you need a very fast transaction (with a recommended fee or higher most of mine have been almost immediate) but if the amount of bitcoin you are sending is very small this fee may end up being an unacceptably large percentage the total amount. In this case you can set the fee lower to avoid paying too much if you are willing to wait longer for confirmation. |
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AlienSeeker
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September 24, 2017, 06:30:57 PM |
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So the higher fee is the best?
Yes, if you pay for a higher transaction fee, your transaction will be like a VIP. So it will be confirmed faster. |
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cryptoid2017
Member
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Activity: 98
Merit: 10
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September 24, 2017, 07:01:07 PM |
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From my experience the time was in minutes or in hours, fortunately not in days. Always good to think well in advance how fast transaction do I need and set the fees accordingly.
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BitcoinSupremo
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September 24, 2017, 07:14:44 PM |
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Always check this website to know what is the recommended fee. For example for now the recommended fee is 141-160 satoshi/byte in order to get your transaction confirmed within 30 minutes. https://bitcoinfees.21.co/ |
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Pettuh4
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September 24, 2017, 09:21:12 PM |
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Always check this website to know what is the recommended fee. For example for now the recommended fee is 141-160 satoshi/byte in order to get your transaction confirmed within 30 minutes. https://bitcoinfees.21.co/I'd lie to add that it depends on your wallet and so if you are using an online wallet then you'd have to use the rate set by your wallet operators before you can get your transaction confirmed in the next block and that can be huge that's why it's best to use a wallet you can control with your private keys. |
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rb26
Full Member
Offline
Activity: 247
Merit: 101
OPEN GAMING PLATFORM
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September 24, 2017, 10:26:19 PM |
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How long does it take for a transaction to be confirmed? I know that this is always asked here, but I can't find the thread. I have sent a small amount to my friend, and he still don't receive it. So I am just bothered that he may not receive it. Thank you in advance!
The processing of transactions are done via mining. So a transaction will be successful after a new block has been mined. In Bitcoin's case, a block is mined for every 10 minutes so you have to wait a minimum of 10 minutes before you can say that the transaction was a success. However, because mining is done by miners who intends to gain more profit, they give priorities to transactions with a high transaction fees. So when you include only a small fee or no fee at all, it may take hours and days before the transaction succeeds. It may even end up returning to your wallet because of the very low fee. So you do not have to worry if your transaction failed, you'll get your funds back eventually. |
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basket ball
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September 24, 2017, 10:34:18 PM |
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How long does it take for a transaction to be confirmed? I know that this is always asked here, but I can't find the thread. I have sent a small amount to my friend, and he still don't receive it. So I am just bothered that he may not receive it. Thank you in advance!
You should use a transaction fee of 0.001, if less then sometimes the transaction can run for days. I have experienced it, I sent from poloniex to bittrex, because the cost in poloniex is only 0.0001 so I received my coins for 3 days. I lost my heart, I do not think my coins will be there |
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szpalata
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September 25, 2017, 01:41:29 AM |
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How long does it take for a transaction to be confirmed? I know that this is always asked here, but I can't find the thread. I have sent a small amount to my friend, and he still don't receive it. So I am just bothered that he may not receive it. Thank you in advance!
You should use a transaction fee of 0.001, if less then sometimes the transaction can run for days. I have experienced it, I sent from poloniex to bittrex, because the cost in poloniex is only 0.0001 so I received my coins for 3 days. I lost my heart, I do not think my coins will be there I think by simply using a wallet that offers more option to sell your bitcoins at different rates and option to pay for those looking for confirmation within the next block will be higher than the normal confirmations. |
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maydna
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September 25, 2017, 05:15:42 AM |
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How long does it take for a transaction to be confirmed? I know that this is always asked here, but I can't find the thread. I have sent a small amount to my friend, and he still don't receive it. So I am just bothered that he may not receive it. Thank you in advance!
i think you can check it in blockchain by entering the transaction id. btw, don't forget to use economic or normal fee if you want to send because if you use lower fee, then it needs too long before it gets confirmed. How long does it take for a transaction to be confirmed? I know that this is always asked here, but I can't find the thread. I have sent a small amount to my friend, and he still don't receive it. So I am just bothered that he may not receive it. Thank you in advance!
You should use a transaction fee of 0.001, if less then sometimes the transaction can run for days. I have experienced it, I sent from poloniex to bittrex, because the cost in poloniex is only 0.0001 so I received my coins for 3 days. I lost my heart, I do not think my coins will be there if we want to send from bittrex to other wallet, the fee is 0.001 btc but in poloniex, i am not too long to receive the coins. i think by using the fee 0.0005 btc-0.001 btc is fine and its no need to wait until 1 day or more. |
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Simss
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September 25, 2017, 07:23:18 AM |
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How long does it take for a transaction to be confirmed? I know that this is always asked here, but I can't find the thread. I have sent a small amount to my friend, and he still don't receive it. So I am just bothered that he may not receive it. Thank you in advance!
transaction takes different time, adress wallet and the amount of fee we give will affect the time of transaction. so the higher the fee we give then the transaction will be quickly confirmed. |
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