How long do Bitcoin ATM transactions take?
For new customers, Bitcoin ATM transactions can take up to 5 minutes. For returning customers, ATM and Teller Window transactions can take less than 1 minute. Once your transaction is complete, your Bitcoin or Litecoin will arrive in your wallet within 15 minutes of your purchase.
If your Bitcoin or Litecoin is not delivered within 15 minutes of your purchase:
- Refresh your wallet application or browser! If you are using a wallet app on a mobile device or desktop, close the application and relaunch it.
- Some digital currency wallets don't show transactions until they are confirmed on the blockchain, so even though we send your Bitcoin or Litecoin immediately, you may not see it right away. Check your transaction on blockchain.info or blockcypher.com. Use your crypto wallet address to search for your transaction.
- Cryptocurrency transactions get batched together into blocks, which can sometimes take about 25 minutes to be reflected in your wallet.
If there’s a separate problem, or if your transaction is not showing up on the blockchain, give us a call at 855-274-2900
and our Customer Support team
can help you out!
The time that it takes for you to receive your Bitcoin purchase is dependent on multiple factors, including current amount of network traffic on the blockchain and current fee for blockchain transactions. Current Amount of Network Traffic on the Blockchain
Bitcoin transactions must be verified through the mining process, where miners are required to solve a series of complex puzzles. The mining difficulty increases based on the number of transactions and verifying each one can take a lot of time.
The processing time of your Bitcoin purchase is affected by the amount of network traffic the blockchain is experiencing during your transaction.
The more Bitcoin transactions awaiting approval, the more time it will take for each transaction to be approved.
Bitcoin miners verify transactions on the blockchain. Miners are tasked with
to mine that contain Bitcoin transactions awaiting approval. When miners complete a
they earn Bitcoin. It usually takes miners about 10 minutes to mine an entire block.
customer transactions to the bitcoin network every 30 minutes. Once a transaction is broadcast to the network, it must be included in a block by the bitcoin miners. When a transaction is included in the block, it is
on the blockchain. Every transaction that comes after the block in which a transaction is included increases that transaction's number of confirmations. Current Fee for Blockchain Transactions
The average fee for transactions on the Blockchain can vary. Users can choose to pay a higher or lower fee depending on their preference. Transactions paying higher fees are automatically prioritized for faster validation on the Blockchain. The greater the processing fee you pay, the sooner miners will process your transaction. Depending on your choice of mining fee, your transaction will have a different priority to be processed. If you pay a fee within the estimated next block range, your transaction will be included in the next block (about 10 minutes). If you choose to pay a lower fee, your transaction will be placed in the mempool to be processed once space is available. With DigitalMint Bitcoin ATMs, we pay this fee on behalf of the customer. Why was 10 Minutes Picked as the Block Time
Satoshi Nakamoto, the inventor of Bitcoin, selected 10 minutes as the Block Time because this is optimal for miners to receive updates from the network on the latest bitcoin block completed while reducing the computing resources that could be wasted while a miner waits to receive this information. What is the Mempool?
The mempool, short for
consists of all of the transactions that have been broadcast to the bitcoin network but have not yet been added to a block by a miner. The mempool is a queue of bitcoin transactions waiting to be mined. Bitcoin users can pay additional
to increase a particular transaction's priority to be mined. When the number of worldwide bitcoin transactions grows, the mempool queue becomes larger. The time it takes for the transaction to be included in a block and become confirmed may take longer.
How do Bitcoin ATMs work?
How do I send and receive Bitcoin to and from my wallet?
What is cryptocurrency and how does it work?