Bitcoin transactions are not always instant as it depends on the number of transactions processed by the blockchain at a given time.
It takes two confirmations from the network before your balance is fully available in your Paxful wallet. This is the industry standard for a truly secure wallet. This can take anywhere from five minutes to an hour, depending on the Bitcoin network.
Here are factors that affect the speed of Bitcoin transactions:
- Miner's fee. The higher the miner's fee you choose to pay, the higher is the priority of your transaction within the blockchain.
Note: Paxful charges a fixed fee for external transactions. This means all our outgoing transactions are treated equally.
The blockchain processor service you (your provider) use. Paxful uses services of BitGo - the most secure and successful blockchain processing service in the world. If you transfer from your Paxful wallet to an external wallet which also uses BitGo, this significantly improves the speed of your transaction.
- All transactions made between Paxful wallets are instant.
Find out more about How To Check Bitcoin Transaction Status.