TLDR
Bitcoin transaction confirmation time refers to the period between the initiation of a Bitcoin transaction and the sender verifying payment. This transaction time can be anywhere from a few minutes to several hours. A Bitcoin transaction without confirmation, zero confirmation transaction, means that the sender can still reverse it and probably double spend. The average confirmation time for a transaction with higher transaction fees is lower than the contrary. Traffic/congestion on Bitcoin’s network causes congestion in the mempool, which means that transactions have to take some time because of the sheer numbers competing with the rigid block addition time.via the TL;DR App
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Written by Sharmaa | Ashish Sharma is an Internet Research Analyst, and an aspiring social media marketer.
