THE POSSIBLE CAUSE OF DELAY IN TRANSACTION?

googs84

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Quote from: swaggerkeme on July 21, 2018, 07:49:55 PM

I have had more than two occasions where my withdrawal of bitcoin from an exchange has delayed for more than 4 hours even after authorising and confirming the transaction through my e-mail. I don't know if am the only person that this particular problem has happened to. I want to know the possible cause of the delay in transaction during withdrawals.

I dont know what you tasing about. I mean you should give more information like are you withdrawing the coins from wallets, or from the exchangers? If it is exchanger then just check whether there is any particular event thats underway like ICO sales, airdrops etc or whether the wallet maintenance is underway?
This happens many times and thus withdraws can take longer than usual.

This is also sometimes related with the Gwei and Gas fees you paid if you are working with ERC20 coins and transferring them from related wallets.

Ranly123

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Quote from: swaggerkeme on July 21, 2018, 07:49:55 PM

I have had more than two occasions where my withdrawal of bitcoin from an exchange has delayed for more than 4 hours even after authorising and confirming the transaction through my e-mail. I don't know if am the only person that this particular problem has happened to. I want to know the possible cause of the delay in transaction during withdrawals.

The delays of Bitcoin transactions is because of traffic in the market where in some reasons do transactions at the same time. It depends also in the connection on your internet that makes the delay.

hugeblack

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It is due to the platform or site you use to withdraw or deposit your bitcoins. Ideally, you should only wait for more than one confirmation, which depends on the network but not up to four hours in any case.

If that site "as gambling sites" gives greater importance to the time and the payments are small, it will not hurt to wait "just force you to pay higher fees." some sites that check your transaction fees & if it is higher than a level, your transaction is executed without any delay.
Some sites "as exchange platforms" are more interested in low fees at the expense of delay, so the wait is better, and sometimes the outputs are collected to reduce the costs as mentioned earlier

mrs_bitcoin

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What exactly is the currency exchange you're talking about? Some exchanges need time to process and check all transactions for input and output, and most likely that's why you are watching the delay.

swaggerkeme

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Quote from: SFR10 on July 22, 2018, 06:29:15 AM

In addition to what the first two users posted, there are few other things as well:

1. Some exchanges prefer to wait a bit more and group more transactions into one (more outputs), so they can save some on their transactions fees.
2. I've noticed some exchanges, tend to use unconfirmed outputs as their inputs (mostly, those are with low fees and it adds to your waiting time).

Thanks for the explanation, am sure this is what happened in my case with Kucoin, I was transferring 0.1btc and used the regular transaction fees of 0.001btc but I had to wait for more than 4 hours. I think most of this exchange sites are not being fair to us , as the transaction fees they charge are relatively high.

jorgelugra

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I think that you need to check the software or write to the admin of the site where the transaction took place. Once i also had such a thing in another place but later i got my money

SFR10

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In addition to what the first two users posted, there are few other things as well:

1. Some exchanges prefer to wait a bit more and group more transactions into one (more outputs), so they can save some on their transactions fees.
2. I've noticed some exchanges, tend to use unconfirmed outputs as their inputs (mostly, those are with low fees and it adds to your waiting time).

uchiikina14

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Quote from: swaggerkeme on July 21, 2018, 07:49:55 PM

I have had more than two occasions where my withdrawal of bitcoin from an exchange has delayed for more than 4 hours even after authorising and confirming the transaction through my e-mail. I don't know if am the only person that this particular problem has happened to. I want to know the possible cause of the delay in transaction during withdrawals.

Transactions on the Bitcoin network itself aren't controlled or confirmed by BitPay, but by the bitcoin miners which group transactions into "blocks" and add those blocks to the Bitcoin "blockchain" – the shared historical record of all transactions. When a transaction has been added to a block six blocks ago, it's considered a done deal.

Currently, bitcoin network traffic is unusually high due to increasing demand for transactions per block. Block sizes are limited, so this means that transactions which exceed the capacity for a block get stuck in a queue for confirmation by bitcoin miners. This queue of unconfirmed transactions is called the bitcoin mempool.

Seth Nyarko

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With ether or Bitcoin for example, it may be due to low gas fee. Once set to a good amount of gas fees the transaction is usually smoot

alfs75

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Quote from: swaggerkeme on July 21, 2018, 07:49:55 PM

I have had more than two occasions where my withdrawal of bitcoin from an exchange has delayed for more than 4 hours even after authorising and confirming the transaction through my e-mail. I don't know if am the only person that this particular problem has happened to. I want to know the possible cause of the delay in transaction during withdrawals.

actualy,you are not the one experiencing about that kind of problem in transaction delay of withdrawal of your bitcoin or any knds of altcoins into different trading site's and one reason of this traffic delay some of our transaction is due traffic in the blockchain path,because maybe that time you doing your transaction of withdrawal,i thinks many of that time also doing there transaction,thats the one co'z traffic in the block chain because segwit2x i thinks is not been implemented.

swaggerkeme

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I have had more than two occasions where my withdrawal of bitcoin from an exchange has delayed for more than 4 hours even after authorising and confirming the transaction through my e-mail. I don't know if am the only person that this particular problem has happened to. I want to know the possible cause of the delay in transaction during withdrawals.

Topic: THE POSSIBLE CAUSE OF DELAY IN TRANSACTION? (Read 124 times)