Post
Topic
Board Beginners & Help
Re: Speed of transaction
by
pooya87
on 21/02/2017, 08:03:18 UTC
It depends on how fast the next block is confirmed. You'll have to wait no matter what. As long as you include a sufficient fee your transaction should be included in the next block which averages like 10 mins, I believe?
Can i ask? how to know if I send enough or sufficient fee for my transaction? sorry just getting started with bitcoins recently, for example I'm using coinbase account and I sent some bitcoins to my friend and his using blockchain wallet, how to know the transaction fee for this??

i believe coinbase sets the fee automatically and doesn't tell you or deduct it from your account. they do it automatically and include enough fees.

but to know this, usually the bitcoin wallets suggest it to you based on the analysis they make of the mempool and previous blocks,... also you can use online tools such as http://bitcoinfees.21.co/ for more information.
even some block explorers such as https://live.blockcypher.com/btc/ suggest fees. you can also do it with an API call if you are a programmer. https://api.blockcypher.com/v1/btc/main