Changelly works instantly. About 5-20 minutes and here you go. However, there are some nuances in such a perfect system that don’t depend on us making you, dear customer, wait tooo long. Let’s consider these common issues in this article to have an objective look at the reasons.
The blockchain of any coin is a list of ordered records formed in blocks. It takes time to record an order and put it into a block to get confirmation (4 transactions per sec in the bitcoin blockchain). From time to time, the blockchain is bloated with multiple transactions, the quantity of them increases and the blockchain gets stuck. This issue is quite common in the bitcoin network. Usually for bitcoin payment services requires for 1-2 confirmations in the blockchain. Normally, it happens within 10-20 minutes. But when the network is overloaded it may take hours…
Luckily, there is always an option to monitor the real-time quantity of pending transactions prior to buying or sending BTC. Things get tough when figures come to 50-60 thousand transactions waiting for confirmation. So if you need your coins urgently, the network fee of your transaction should be higher: around 0.0005 BTC. In other cases, if the network works fine, the regular fee is 0.0002 BTC.
This graph perfectly illustrates the state of the number of bitcoin confirmations.
Technical updates, including a hardfork, occur mostly on any cryptocurrency platform. As a rule, it requires client updates as well and blockchain syncing. It seems that we should get some technical updates in order to work with a freshly hardforked crypto. We turn off crypto support for a while and update our system. Sometimes it may take several days, depending on a crypto being hardforked. This is the reason why older transactions are stuck and new ones cannot be processed. However, there is nothing to worry about. Once the system is updated, all transactions will be processed.
The next reason of a too long waiting is cryptocurrency networks exposed to DDoS attacks. The type of the attacks varies depending on the way a blockchain is built. That might be too many transactions made at once or viral smart contacts causing a bug in a network. In all cases, the network fails and stops processing transactions. All we got to do is to wait until the issue is fixed. Sometimes it may take days. This is what Changelly cannot influence somehow. Eh!
Changelly keeps an eye on every little delay. If something occurs, we’re always pleased to answer your questions at [email protected]
Feel free to try our instant exchange right now!