Why transactions take so much time? - page 2.

Danslip

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Quote from: spike420211 on September 12, 2019, 04:56:35 PM

Different blockchains - different transaction speeds. If you are not happy with the speed of the blockchain that you use, exchange it for another one,
thank God everyone on any major exchange can exchange one cryptocurrency for another without much difficulty.

Using the small cost coins for withdrawing the account balance is the smart idea but the disadvantages of the small coins also force me to think twice. The illiquid market conditions for these coins can be hard to trade for lower bid/ask rates. The alternative coins are more reliable to transfer the profit than paying more for the same amount of the profit. The exchanges also don't send the withdrawals one by one, they collect the withdrawal request from the different customers which ordered to take the funds out of the exchange.

Transactions may take time if there is no other withdrawal request by the crypto traders in the same exchange. The batch withdrawal is the commonly known component of the well-known exchanges and they prefer to use the batch withdrawal for saving the fees and sending the withdrawals as fast as possible.

Mysteryla

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Quote from: btc_love on August 30, 2019, 06:53:21 AM

Hello! To be honest, I'm so tired of waiting for transactions. I use changelly and I have to wait for my transaction for 5-30 minutes and that's exhausting. Do you know exchanges with faster transactions?

I believe that your plight will be settled and solved by the time the Ethereum 2.0 is created, which is an update that will come up soon. There are other block chain that enable very fast transaction. However, if the network is clogged and there is a lot of traffic, which is what happens on ethereum network, it will cause a slow pace in transaction. Although, to hasten the process, you might then need to use higher transaction fee, as recommended by the network.

dongosquad

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Many things affect the speed of the transaction. One of them is a transaction fee. If you want a fast transaction, then set the fee at a higher price. For me. transactions for 30 minutes is not too long, it's quite normal. If you want better service then use a compatible global exchange such as binance, kucoin, that's safer I think.

Questat

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Quote from: btc_love on August 30, 2019, 06:53:21 AM

Hello! To be honest, I'm so tired of waiting for transactions. I use changelly and I have to wait for my transaction for 5-30 minutes and that's exhausting. Do you know exchanges with faster transactions?

Not familiar to that(changelly) but for that long, it is just fair to me. Withdrawal and deposit it takes a while to process and it needs blockchain confirmations, and it also varies depending on fees and network traffic that it sometimes we need minutes or hours to have the final confirmation. I don't see instant transfers in here as it needs confirmation but if it happens all the times, there might have a problem with that site.

mr_random

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Quote from: htsy585 on September 12, 2019, 06:27:34 PM

Quote from: Japinat on September 12, 2019, 05:28:50 PM

Quote from: spike420211 on September 12, 2019, 04:56:35 PM

Different blockchains - different transaction speeds. If you are not happy with the speed of the blockchain that you use, exchange it for another one,
thank God everyone on any major exchange can exchange one cryptocurrency for another without much difficulty.

That's the benefit we can enjoy where there's a lot of exchanges in the market, they will provide liquidity to ensure we can trade anytime we want.
What's important only is that people will begin accepting not only bitcoin but altcions as well, based on my experience, I am more satisfied using DOGE coin for my transaction as its faster and way cheaper compared to other coins I use.

Though we cannot deny that BTC is the most popular now, but because of its demand the value increases hence fees follows, therefore it's not advisable to use for small transactions only as the fee is not worth it.

I can attest to Doge being one of the cheapest and faster coins. Especially when you want to run arbitrage and all transactions fees matter. So instead of withdrawing BTC at 5usd at eg Binance you rather convert to doge, send to Kucoin and withdraw btc at less than 2usd

I also do comparable transfers between big exchanges and the XRP, DOGE, NEO are the cheapest, fastest coins as a withdrawal choice. Instead of paying the 5$ worth of XRP to the Hitbtc I prefer to convert my holdings to the NEO and withdraw to the Binance. In the end, the total cost will be less than 1 USD due to the fees and commissions.

Different exchanges have different rates but Livecoin can be a good choice for withdrawing the trading profits. The various withdrawal options are there and the withdralwa fees are not as high as the HitBtc. The average market fees are more in the big exchanges, but there is no need to make the same choice as the crowd.

htsy585

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Quote from: Japinat on September 12, 2019, 05:28:50 PM

Quote from: spike420211 on September 12, 2019, 04:56:35 PM

Different blockchains - different transaction speeds. If you are not happy with the speed of the blockchain that you use, exchange it for another one,
thank God everyone on any major exchange can exchange one cryptocurrency for another without much difficulty.

That's the benefit we can enjoy where there's a lot of exchanges in the market, they will provide liquidity to ensure we can trade anytime we want.
What's important only is that people will begin accepting not only bitcoin but altcions as well, based on my experience, I am more satisfied using DOGE coin for my transaction as its faster and way cheaper compared to other coins I use.

Though we cannot deny that BTC is the most popular now, but because of its demand the value increases hence fees follows, therefore it's not advisable to use for small transactions only as the fee is not worth it.

I can attest to Doge being one of the cheapest and faster coins. Especially when you want to run arbitrage and all transactions fees matter. So instead of withdrawing BTC at 5usd at eg Binance you rather convert to doge, send to Kucoin and withdraw btc at less than 2usd

tabas

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Quote from: spike420211 on September 12, 2019, 04:56:35 PM

Different blockchains - different transaction speeds. If you are not happy with the speed of the blockchain that you use, exchange it for another one,
thank God everyone on any major exchange can exchange one cryptocurrency for another without much difficulty.

There are traders that wants to save from fees too so they usually use the altcoins Ethereum(mostly) and Doge, there's also Nano for those that still doesn't know on how good they are.
But if you want to pay for bitcoin and it's usually around $0.01 - $0.06 which isn't really that expensive right?

Japinat

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Quote from: spike420211 on September 12, 2019, 04:56:35 PM

Different blockchains - different transaction speeds. If you are not happy with the speed of the blockchain that you use, exchange it for another one,
thank God everyone on any major exchange can exchange one cryptocurrency for another without much difficulty.

That's the benefit we can enjoy where there's a lot of exchanges in the market, they will provide liquidity to ensure we can trade anytime we want.
What's important only is that people will begin accepting not only bitcoin but altcions as well, based on my experience, I am more satisfied using DOGE coin for my transaction as its faster and way cheaper compared to other coins I use.

Though we cannot deny that BTC is the most popular now, but because of its demand the value increases hence fees follows, therefore it's not advisable to use for small transactions only as the fee is not worth it.

EmmaBen

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With an increase in the use of blockchain, there is bound to be enormous amounts of traffic clogging up thr network structure resulting in slow processing of several transactions. It is not uncommon to find this happening majorly on Ethereum and Bitcoin blockchains since these blockchains remain the most widely used. The good thing is that, this often last at most, a couple of days and the network becomes normal again.

spike420211

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Different blockchains - different transaction speeds. If you are not happy with the speed of the blockchain that you use, exchange it for another one,
thank God everyone on any major exchange can exchange one cryptocurrency for another without much difficulty.

Crypto5060

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Theagriverse.io

Most times it's down to overload on Ethereum blockchain, the gas price is also another reason while transactions can take anywhere between seconds to minutes to hours. If a high gas price is set and the network is not congested the transaction will be fast and vice versa.

Bisbee

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Bitcoin

The Ethereum network has been overloaded in the past few days, so many transactions are delayed, especially if the gaz price is set low. Therefore, at such moments, you have to wait for the network to unload. The Ethereum team must solve the problem of network scaling, otherwise Ethereum will lose popularity.

max6575

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Vave.com

as different exchange gives on reference to work on customs with appeals as moderating tasks on request with completion, buyer or exchanger might defines of one on selection as fine to match of casuals with daily native of origin with works on compliance.

btcholder

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Quote from: btc_love on August 30, 2019, 06:53:21 AM

Hello! To be honest, I'm so tired of waiting for transactions. I use changelly and I have to wait for my transaction for 5-30 minutes and that's exhausting. Do you know exchanges with faster transactions?

I think it's ok for wait 5-30 min. Basically it's happen when network carry too much load. I remember once when my token take to transaction was 18 hours. I think Binance is more faster than other exchange. And i think now days eth based tokens are faster than bitcoin or other block chain token.

And one more think, miner try to solve or take those transaction which fee is big amount if some how your gas limit is low then some times it take much time to transaction. It's a regular thing if network carry too much load then you have to wait for while.

setialovers

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Quote from: jorenpo on September 10, 2019, 01:01:50 AM

What blockchain are you using? It only takes less than a minute if you are using ethereum blockchain. and it depends on the exchange on how many blocks before they accept the transaction. I suggest kucoin or houbi, they accept with atleast 5 blocks created.

Transactions at large exchangers are usually very fast and also have a relatively small transaction fee. During this time I was still comfortable transacting at exchangers such as Binance or Kucoin because some of the coins that I sought were there

kramchers

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Quote from: btc_love on August 30, 2019, 06:53:21 AM

Hello! To be honest, I'm so tired of waiting for transactions. I use changelly and I have to wait for my transaction for 5-30 minutes and that's exhausting. Do you know exchanges with faster transactions?

The transaction in cryptocurrency are fast especially if it is on ERC20, NEP5 EOS or waves and others.
Only BTC will take a bit time, but about the speed rate, it is also dpends on the efficientcy of the exchange you are dealing with.
They need time to verify the transaction and send it.

jorenpo

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What blockchain are you using? It only takes less than a minute if you are using ethereum blockchain. and it depends on the exchange on how many blocks before they accept the transaction. I suggest kucoin or houbi, they accept with atleast 5 blocks created.

shadowdio

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Zawardo

I think there is no exchanges that has instant transactions even big exchanges like binance that could take 5 mins - 30 mins. Well seems this is normal for exchanges so just be patient.

fosco333

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Quote from: btc_love on August 30, 2019, 06:53:21 AM

Hello! To be honest, I'm so tired of waiting for transactions. I use changelly and I have to wait for my transaction for 5-30 minutes and that's exhausting. Do you know exchanges with faster transactions?

If you don't want to waiting too long for your transaction, then you must using your own cryptocurrency wallet.
It is normal for exchange wallet to wait the confirmation of the transaction, for security reason.

Chemcrier

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IMO Exchange - Customer First.

It all depends on BTC transaction speed at that moment although I have noticed that withdrawals in some exchanges are much faster and some of these exchanges are Mercatox and gate.io exchange, Binance withdrawals a Nd deposits used to be very slow too but they seem to have improved it a great deal recently.

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