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Average Bitcoin transaction confirmation time 2017-2019
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Average Bitcoin transaction confirmation time 2017-2019
Average confirmation time of Bitcoin transactions from June 2017 to June 2018 (in minutes)
by M. Szmigiera,
last edited
Aug 9, 2019
The average confirmation time for a Bitcoin transaction was 9.47 minutes in June 2019. This is slightly down from the past few months. The effect of the longer transaction time may not be an issue for cryptocurrency speculators, but it may make Bitcoin an unattractive medium of exchange.
What is a virtual currency?
Virtual currencies, also known as cryptocurrencies, are internet-based assets that can perform the basic functions of a currency. Many people like the fact that they have no centralized regulating authority, using cryptography to ensure security. However, a small percentage of people currently own Bitcoin, which reduces their impact in commerce.
Reasons for fluctuations
While not often used for purchases, investors have flocked towards Bitcoin and other virtual currencies for investment. Fluctuations in price could lead to changes in investor activity, which would have correlating changes in transaction times. Given Bitcoin’s security algorithm, which depends on a distributed ledger, an increase in the number of Bitcoins in circulation could also lead to longer transaction times.
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by M. Szmigiera,
last edited
Aug 9, 2019
The average confirmation time for a Bitcoin transaction was 9.47 minutes in June 2019. This is slightly down from the past few months. The effect of the longer transaction time may not be an issue for cryptocurrency speculators, but it may make Bitcoin an unattractive medium of exchange.
What is a virtual currency?
Virtual currencies, also known as cryptocurrencies, are internet-based assets that can perform the basic functions of a currency. Many people like the fact that they have no centralized regulating authority, using cryptography to ensure security. However, a small percentage of people currently own Bitcoin, which reduces their impact in commerce.
Reasons for fluctuations
While not often used for purchases, investors have flocked towards Bitcoin and other virtual currencies for investment. Fluctuations in price could lead to changes in investor activity, which would have correlating changes in transaction times. Given Bitcoin’s security algorithm, which depends on a distributed ledger, an increase in the number of Bitcoins in circulation could also lead to longer transaction times.
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- Release date
- July 2019
- Region
- Worldwide
- Survey time period
- June 2017 to June 2019
- Supplementary notes
- End of month data.
Source
- Show sources information
- As a Premium user you get access to the detailed source references and background information about this statistic.
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- Release date
- July 2019
More information
- Region
- Worldwide
- Survey time period
- June 2017 to June 2019
- Supplementary notes
- End of month data.
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- Share of cryptocurrency users 2016, by geographical distributionCryptocurrency: Distribution of users 2016, by region
- Average number of Ethereum transactions daily worldwide from 1st quarter 2016 3rd quarter 2018Average number of daily Ethereum transactions globally 2016-2018
- Average number of Monero transactions daily worldwide from 1st quarter 2016 1st quarter 2017Average number of daily Monero transactions globally 2016-2017
- Average number of Litecoin transactions daily worldwide from 1st quarter 2016 1st quarter 2019Average number of daily Litecoin transactions globally 2016-2019
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- Number of Bitcoins in circulation worldwide from 2nd quarter 2012 to 2nd quarter 2019 (in millions)Number of Bitcoins in circulation 2012-2019
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- Market share of Bitcoin ATM producers worldwide as of June 2019Market share of Bitcoin ATM producers worldwide 2019
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- Value of Bitcoin transaction fees worldwide from 2013 to 2016 (in million U.S. dollars)Bitcoin transaction fees from 2013 to 2016
- Average confirmation time of Bitcoin transactions from June 2017 to June 2018 (in minutes)Average Bitcoin transaction confirmation time 2017-2019
- Largest Bitcoin/Blockchain venture capital backed companies worldwide as of April 2018, by funding value (in million U.S. dollars)Leading Bitcoin/Blockchain VC-backed companies 2018, by funding value
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Statistics on "Bitcoin"
- Leading virtual currencies globally as of July 2019, by purchase volume* (in million U.S. dollars)
- Distribution of leading cryptocurrencies from 2015 to 2018, by market capitalization
- Share of cryptocurrency users 2016, by geographical distribution
- Average number of Ethereum transactions daily worldwide from 1st quarter 2016 3rd quarter 2018
- Average number of Monero transactions daily worldwide from 1st quarter 2016 1st quarter 2017
- Average number of Litecoin transactions daily worldwide from 1st quarter 2016 1st quarter 2019
- Number of daily Bitcoin transactions from 1st quarter 2016 to 1st quarter 2019
- Bitcoin price index from May 2017 to May 2019 (in U.S. dollars)
- Bitcoin price index from the first quarter of 2012 to the 2nd quarter of 2019 (in U.S. dollars)
- Market capitalization of Bitcoin from 2nd quarter 2013 to 2nd quarter 2019 (in billion U.S. dollars)
- Most expensive virtual currencies globally as of July 2019 (in U.S. dollars)
- Number of Bitcoins in circulation worldwide from 2nd quarter 2012 to 2nd quarter 2019 (in millions)
- Would you rather own Bitcoin directly or through an exchange traded fund?
- Number of Bitcoin ATMs worldwide from July 2016 to July 2019
- Number of Bitcoin ATMs in selected countries worldwide as of June 2019
- Distribution of Bitcoin ATMs worldwide as of June 2019, by region
- Market share of Bitcoin ATM producers worldwide as of June 2019
- Is owning Bitcoin in the U.S. illegal?
- Do you think U.S. government regulation and oversight of Bitcoin would be good or bad for the price of Bitcoin?
- Do you currently own Bitcoin?
- Would you be open to the idea of using Bitcoin for transactions and purchases?
- Do you plan on investing in Bitcoin as an asset for the future?
- Size of the Bitcoin blockchain from 2010 to 2019, by quarter (in megabytes)
- Total revenue raised from Bitcoin mining worldwide from 2010 to 2016 (in million U.S. dollars)
- Value of Bitcoin transaction fees worldwide from 2013 to 2016 (in million U.S. dollars)
- Average confirmation time of Bitcoin transactions from June 2017 to June 2018 (in minutes)
- Largest Bitcoin/Blockchain venture capital backed companies worldwide as of April 2018, by funding value (in million U.S. dollars)
- Share of cryptocurrency exchanges supporting selected virtual currencies worldwide in 2018
- Transaction speed of selected cryptocurrencies as of June 2019 (in minutes)
- Usage of bank branches for routine transactions worldwide in 2014, by country
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- Average value of check transactions in Australia from financial years 2015 to 2018 (in 1,000 Australian dollars)
- Number of private debt investments in Italy from 2014 to 2017
- Average daily customer transactions in medium sized hypermarkets in China between 2011 and 2012 (in yuan)
- Daily per customer transaction volume of small hypermarkets in China between 2011 and 2012 (in yuan)
- Average daily customer transaction volume in small supermarkets in China between 2011 and 2012 (in yuan)
- Average daily customer transaction volume in medium sized supermarkets in China between 2011 and 2012 (in yuan)
- Reserves, resources, and past production of copper in major discoveries between 1999 and 2010, by country
- Hertz Global Holdings' international car rental transaction days from FY 2012 to FY 2018 (in 1,000s)
- Average daily customer transaction volume in large supermarkets in China between 2011 and 2012 (in yuan)
- Distribution of global copper transactions from 2007 to 2011, by transaction volume
- Number of transactions completed on Despegar.com from 2015 to 2018, by segment (in millions)
- Average daily customer transaction volume in large hypermarkets in China between 2011 and 2012 (in yuan)
- Total value of point of sale (POS) transactions in Hungary from 2012 to 2017 (in billion Hungarian forints)*
- Hertz Global Holdings Inc.'s U.S. car rental transaction days from FY 2012 to FY 2018 (in 1,000s)
- Worldwide transactions in the field of automotive technology in 2014 and 2018, by acquiring party
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