How Long Does it Take to Receive a Bitcoin Transaction?

Modified on Thu, 17 Aug 2023 at 02:22 PM

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 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 the 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 that 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.

If you need any assistance from our Support team, do not hesitate to contact us. Check out this article on How to Contact Support.