A Bitcoin transaction often goes through several confirmations on the blockchain before it is fully cleared. That’s because there’s a risk that unconfirmed transactions could be reversed, or the cryptocurrency could be spent twice. A confirmation takes place whenever a new block is created.
If you’re transferring a big amount of cryptocurrency to a company, some will require as many as six confirmations. How long would this transaction for the transfer take to confirm? About an hour.
Remember, each time you send a transaction, you are making a transfer (or transfers) and you need to wait until the transfer is “confirmed” by the miners.
Will BTC Transactions Ever Be Faster?
We hope you’ve enjoyed our FAQ about how long a Bitcoin transaction takes to be confirmed. By following our advice, you’ll be out of the Bitcoin mempool in no time.
How to Link a Payment Method on Coinbase?
As you may have noted, you must link your preferred payment method to your Coinbase account before you can make a deposit successfully. For wire and ACH transfers, you need to link your bank account, while for PayPal deposits, you have to link your PayPal account.
The good thing is that adding any of these payment methods is straightforward.
To add a payment method while using a PC, do the following:
- Open your browser and visit the official Coinbase website.
- Sign in to your Coinbase account and click on “Payment Methods.”
- Click on “Add a payment method.”
- Select the type of account you want to add and follow the on-screen prompts to complete the process.
To add a payment method via the Coinbase mobile app:
- Open your app and navigate to settings. To do so, click on the three horizontal lines in the top right corner.
- Tap on “Payment Methods.”
- Select the type of account you intend to link from the list of the available options.
- Follow the on-screen instructions to verify your new payment method.