Will my Bitcoin transaction ever be confirmed?
Every bitcoin transaction that’s sent flows into what’s called the mempool (short for memory pool) before it can be confirmed by miners. In most cases, your transactions will eventually confirm. It may just take longer than usual to do so.
Why is blockchain confirmation taking so long?
When there’s a dramatic spike in transaction activity, the mempool can become congested because so many transactions are waiting to be included in the next block. In most cases, your transactions will eventually confirm. It may just take longer than usual to do so.
What happens when a transaction is confirmed on the blockchain?
Once a transaction is confirmed on the blockchain it should remain part of the blockchain. However, those with enough hashing power could theoretically alter transactions with little confirmations. The Bitcoin community sees 6 confirmations as the minimum threshold to accept a transaction with a reasonable risk burden.
Why does my transaction take so long to confirm?
The fees you include with your transactions are collected by miners, which are responsible for confirming transactions on the network. A higher fee will help increase your transaction priority, so it is likely to confirm more quickly. In contrast, a lower fee means it may take longer.
How long does a bitcoin transaction take to process?
Ahhh blockchain. It’s the future of money, you know. But even though cash sent through old-fashioned banks often hit accounts instantly, a Bitcoin transaction can take a *little bit* longer. On the Bitcoin network, the average confirmation time for a BTC payment is about 10 minutes.
Why is my Bitcoin transaction pending or unconfirmed?
Bitcoin users across the network may notice their transactions sit as unconfirmed or pending for a longer period of time, and we understand this can cause users to be concerned about the status of their funds. In most cases, your transactions will eventually confirm. It may just take longer than usual to do so.