Why transactions take so much time? - page 3.

desfira

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Quote from: rizkyfebrian213xx on September 04, 2019, 06:58:18 PM

Because on each cryptocurrency network , there are so many transactions going on.. I don't know exactly , maybe around 100-1000 transactions each day #CMIIW
Crowded network on cryptocurrency are Bitcoin network , because IMO this needed so much confirmations than Ethereum network and also because of that , sometimes transfer/withdraw/deposit Bitcoin to other wallet (exchanges or private wallet) takes a few hours (maybe not)

I totally agree with you, because it is true that bitcoin has the most and densest transactions every day, it is inevitable that sending bitcoin will always be too late. And that can also make bitcoin prices even higher

rizkyfebrian213xx

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Because on each cryptocurrency network , there are so many transactions going on.. I don't know exactly , maybe around 100-1000 transactions each day #CMIIW
Crowded network on cryptocurrency are Bitcoin network , because IMO this needed so much confirmations than Ethereum network and also because of that , sometimes transfer/withdraw/deposit Bitcoin to other wallet (exchanges or private wallet) takes a few hours (maybe not)

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Quote from: JeromeL on September 04, 2019, 04:44:00 PM

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?

Any exchange will credit your money for a while. Your money must go through several procedures through various payment centers, it takes time to process all these operations.
In the crypto market, transactions also take some time, so learn to be patient and wait.

The blockchain transactions are not transferred instantly except the few coins, the delay is understandable, it is necessary to wait for the confirmation of the transaction. The exchanges also send the withdrawals together, so I don't think they have any interest for the late arrived transactions. For example, the Liquid exchange which send the transaction in every 6 hours. If I order a withdrawal request at 1 pm, the withdrawal will reach my BTC account at 7 pm which is not good. The batch withdrawals are not good ide used by the small exchanges which liquidity is not in higher levels but the big exchanges can use the batch withdrawals without any hassle due to the big layer of the deep liquidity.

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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?

Any exchange will credit your money for a while. Your money must go through several procedures through various payment centers, it takes time to process all these operations.
In the crypto market, transactions also take some time, so learn to be patient and wait.

cizatext

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Transaction confirmation depends on network congestion at the moment of transactions and the amount of fees being used, waiting for 30 minutes to get your transaction confirmed is still OK.

itwasmoskow1

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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?

Hello. I used to and expected 60 minutes.
But usually usually 15 minutes and everything is ok

qwizzie

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Transaction speed versus deposits / withdrawels processing speed on exchanges :

You can have a cryptocurrency thats lightning fast but if exchanges or other services put a lot of transaction confirmations needed on such transactions
before they deem them safe and protected against doublespending, then users will still experience slow speed.

Ideally you want a cryptocurrency thats not only fast with its transactions on its own network but also only need a minimum of transaction confirmations
imposed by exchanges or services.

Dash has a number of exchanges that accept its InstantSend technology on deposits and or withdrawels. Which means you get your transaction from
sender to receiver within a few seconds, protected against doublespending, no additional fees, immediately spendable and the exchange involved only
impose 1 transaction confirmation before deeming it safe.

These exchanges for Dash, who are accepting its InstantSend on deposits and/or withdrawels are :

https://www.reddit.com/r/dashpay/comments/bhoos3/these_exchanges_are_dash_instantsendenabled/

Dash transactions with 4 input amounts or lower will be automatically and by default handled through Instantsend, without any additional fees, immediately
spendable and protected against double spending. Exchanges just need to update their confirmation system to provide these benefits to its users.

https://blog.dash.org/chainlocks-and-llmq-based-instantsend-mean-digital-cash-efe2852da9ca

RealMalatesta

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Quote from: ||bit on September 03, 2019, 07:51:14 AM

It is based on chain you are using.

For instance bitcoin has a very old blockchain and can process very little amount of transactions per second. Yet if you use eos, you would see it is instant.

That is right, most altcoins are there to serve a purpose, and we know that bitcoin cannot carry the transaction of the whole world, which is the reason why we have so many altcoin as an alternative and all we need to do is just search the good ones out like the EOS that you pointed out.

Most time that bitcoin becomes slow more is usually when there are lots of transactions being processed on it at the same time, and there is usually network jam that is usually responsible for such slow transaction and sometimes high fee, so we could just use some of those coins like ethereum, binance, EOS, stellar and other great chain coins that would serve the same purpose as much as bitcoin does. So we have to learn to accept them and use them to save bitcoin the so many stresses on it.

bustedsynx

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The OP must be converting from or to Bitcoin. Of course the transaction will take time since I believe the fees are set to the lowest possible value. It's a "pay-high-fees, confirm-first" world.

FontSeli

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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?

All exchanges have time to conduct a transaction, even if you send your money or coins with the fastest transfer, you need time to check and process your transaction. You need to understand this and make your payments and transfers with a margin of time. Would you like to be cheated? Exchanges also do not want to be deceived, so they spend a lot of time checking your operations.

||bit

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It is based on chain you are using.For instance bitcoin has a very old blockchain and can process very little amount of transactions per second. Yet if you use eos, you would see it is instant.When the transaction takes huge.You need to wait for the transaction to be end. Without all the confirmation was done.It's not a possible one to view of the intimation of your transaction.

EmmaBen

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Often times, the reason why transactions take time on the blockchain is over clogging of the network with several thousands to hundreds of thousands of transactions leading to sluggish of transaction speeds. Once the network is congested, there is always the tendency of transactions taking time to be done and completed. The only visible solution to this is a decongested network.

Ararbermas

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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?

maybe you pick the lowest fee that's why it takes time. Lol.. Because you know all the speed of the transaction are depending on the fees we put on it. so it's normal !.and sometimes due to the network reason it become slow..

so before you complain check it first what's the real reason behind .and If you don't want to wait anymore. then next time choose an exchange that have no choices of fees when it comes withdrawal. But im not saying it will become very smooth . . 'cause you now it depends as well on the network.

Miklight88

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Normally every transaction require 10min to generate hash for the block and with third party account from any exchange need more time to be confirmed , as every exchange has the number of block that need to be confirmed before they part with the coin which add more time to its transaction time , so I think this is not in anyway be worry some to you.

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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?

That is not so bad, I have seen people claiming they had to wait for several hours in order to get their coins, this is because there could be a severe overload in the network, this is very common when the price is skyrocketing, this could also happen because the coin is under attack and the exchanges are being very cautious about the minimum number of confirmations needed to accept a transaction as valid or they could be experimenting some problems with their exchanging algorithm, in any case if you want a faster service you should probably use binance or coinbase from now on.

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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?

What is the blockchain you are dealing with?
not all transactions are slow, there are different blockchain and contracts in the community.
It will also depend on the respond of the excahnge platform you are having transaction.

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All because the network is busy. But today there are other services and platforms that can deprive you of torment and long waiting. I will not call them, look in google.

SirLancelot

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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?

This same changelly is what someone said he has ported to after complaining about binance exchange, but here we have another complainants of changelly, and this is what I keep telling many people’ we can never get perfection from any of these projects like we want it, even if we were to run the project ourselves.

It is easier for us to perfect whatever we want from our heart than to get it real life. Changelly might be an issue to you now, but it may be still be one of the best that you will get. If you are looking for a more perfect exchange, you might never really get it, so we just have to manage whatever we have at our disposal provided we still get the job done within a short period of time. There is no other exchange you will still get than this.

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Quote from: guydin on August 31, 2019, 03:39:52 PM

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?

In July, the information about the fastest crypto exchange appeared. It will be called PIT. I am not sure that it will be launched soon, but later, you can check for it. Besides, why 5 minutes of waiting for a transaction seem to you to be so long? It is the norm. I agree that 30 minutes is too much as you become nervous, but I do not remember that I used to wait for half an hour. I use Binance.

Blockchain.info was the famous crypto wallet service, later they started to improve their service quality way back to the 2017. PIT exchange is introduced by the same company and they aim to be the fastest crypto exchange with minimum trading fees and crypto-fiat withdrawal commissions.
The new exchanges should come the crypto space with solutions for the crypto traders. The dollar cost average is down in this type of business, the interest is growing as obviously expected. The PIT exchange will be the competitor of the exchanges like Idex, Liquid.

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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?

In July, the information about the fastest crypto exchange appeared. It will be called PIT. I am not sure that it will be launched soon, but later, you can check for it. Besides, why 5 minutes of waiting for a transaction seem to you to be so long? It is the norm. I agree that 30 minutes is too much as you become nervous, but I do not remember that I used to wait for half an hour. I use Binance.

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