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Home » Trading » Why Bitcoin transactions are being delayed? Add New Post

Why Bitcoin transactions are being delayed?

Moderator_David published on General Trading 2016-04-12 12:15 6108
In the light of the recent support questions we have received from our users about Bitcoin transactions being delayed, we have decided to make the below explanation. We hope it is helpful in addressing concerns and provide solutions.

What’s the reason for transactions being delayed?

The Bitcoin network is a global peer-to-peer network, maintained by all nodes, which you can for simply view as computers. A confirmation of transactions is conducted across the global network (not a company or a person) every ten minutes in a block. According to the rules, one should wait up to six confirmations.

The recent delay in confirmation time is because the growing number of transactions across the Bitcoin network has approached the limit of the block’s capacity, which has resulted in the congestion of the network and a slowdown in confirmation time. This is determined by the nature of Bitcoin itself and cannot be altered by any exchange.

When will my transactions be completed?

Normally, bitcoins will be returned three days after being spent, if the transaction is not confirmed. Rest assured, bitcoins of unconfirmed transactions will not be lost. This is how Bitcoin is designed, and no exchange can intervene. Please wait until the transaction is confirmed or the bitcoins are returned.

What do I do about it?

Transactions cannot be retracted once initiated. They need to wait to be confirmed by the miners. You can pay higher fees to the miners to expedite the confirmation.

Thank you for your ongoing support and tolerance. We will always endeavor to present the best products and services.

comments

5
  • 346****0529   Published 2017-07-28 17:43:13 1#
    network confirmation time is fine,  if you can reduce the time required by your system for process the transaction it will be great! 
  • polacek.michael   Published 2017-06-17 04:39:57 2#
    I moved bitcoin balance from Okcoin to Okex. Withdrawal from Okex was succesful, but no change in balance on Okex. Where are my funds? Thank you for timely answer.
  • 963****0377 Published 2017-04-03 01:07:34 3#
    ))
  • 634*** Published 2017-01-07 18:13:22 4#
    Аналогично
  • mba2059141 Published 2016-11-08 17:21:10 5#
    да спасибо,но меня интересует авто-торговля на бирже, я скачал электоронную версию платформы Okcoin (как ее переключить на Английский, а то по Китайски не понимаю)
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