Post
Topic
Board Electrum
Re: Canceling a transaction
by
Charles-Tim
on 01/12/2022, 18:42:37 UTC
A new block is mined on average once every 10 minutes so that's how long it takes for a transaction to be confirmed
Yes, but do not let OP think that it might take 10 minutes for bitcoin transaction to get confirmed, it can take just a minute, 2 minutes, 5 minutes, it can even take more than 10 minutes or 20 minutes for the next block to be mined, while also the mempool can be so congested to the extent that if low fee is paid, the transaction will not be confirmed for a day, two days, 1 week or more, the transaction can even be dropped.