Post
Topic
Board Bitcoin Discussion
Re: Bitcoin transaction confirmed within 20 minutes
by
Dimelord
on 23/05/2017, 12:31:02 UTC
OK with all the posts about transactions fees and transaction holds etc .. thought I'd post my experience ..

I have just transferred 2 Bitcoin from my Kraken trading account to my blockchain wallet ... cost of transaction: 0.0005 bitcoin so actual coins received in wallet 1.9995 ... 4 confirmations received within 20 minutes (19 minutes to be exact)

Personally I was expecting maybe a day for the transaction to be completed lol (especially with all the scary posts on the forum) so 20 minutes was pleasantly surprising.
Well there is nothing to get surprise in that.Most of the well known exchanges charge only very low fee for transactions.For example,poloneix charges only 0.0001 btc for a transaction.For that reason,i even store my bitcoins in exchange so that i could send bitcoin at a very low transaction fee and quickly.But its not advisable to store bitcoins in exchange.Better store it in your wallet.