How long does a crypto transaction take, and what happens during the process?

How Long Does a Cryptocurrency Transaction Take and What Happens During the Process?

The duration of a cryptocurrency transaction and the detailed process depend on the blockchain network used, network traffic, transaction fees, and confirmation requirements.

Typical Transaction Time

For example, Bitcoin transactions typically take between 10 minutes to 1.5 hours to be confirmed on the blockchain, with a new block created approximately every 10 minutes. The time can vary depending on network congestion and the fee paid for the transaction — higher fees usually speed up the process by incentivizing miners to prioritize the transaction.

Other cryptocurrencies may have faster confirmation times, sometimes just seconds or a few minutes, depending on their blockchain protocol.

What Happens During a Crypto Transaction?

1. Transaction Creation: You initiate the transaction by entering the recipient's wallet address, the amount to send, and any transaction fee to incentivize miners or validators.
2. Broadcasting to the Network: Once you send the transaction, your wallet broadcasts the transaction details to the blockchain network where nodes validate your digital signature and check your balance.
3. Transaction Validation: Network nodes (miners or validators) verify that your transaction is legitimate and you have enough funds.
4. Mempool (Waiting Room): Validated but unconfirmed transactions wait in the mempool until miners pick them up for inclusion in the next block. Transactions with higher fees tend to be picked faster.
5. Block Confirmation: Miners solve a cryptographic puzzle to add a new block containing your transaction to the blockchain. This confirms your transaction and makes it irreversible.
6. Multiple Confirmations: Depending on the asset, multiple block confirmations may be required for higher security (e.g., Bitcoin commonly requires 6 confirmations).

Track Your Transaction

You can track your transaction on the blockchain using a transaction hash and block explorers, which provide real-time status updates on confirmations and network activity.

Learn More and Sign Up

To explore cryptocurrency transactions or start trading, visit the MEXC custom sign-up page.

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Welcome to Crypto Trading! 🎉

If you’ve heard about Bitcoin, Ethereum, or cryptocurrencies but feel overwhelmed by the terms and processes, this course is for you! We'll guide you step-by-step through:

• Understanding crypto basics
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Step 1: What is Cryptocurrency? 🔍

Cryptocurrency is a form of digital money that uses cryptography for security. Think of it as online cash you can send and receive without a bank. Popular coins include Bitcoin (BTC), Ethereum (ETH), and many others ("altcoins").

Key terms you will hear:

• Wallet: A digital place to store your crypto safely.
• Exchange: Where you buy and sell crypto.
• Spot Trading: Buying/selling actual coins instantly.
• Futures Trading: Trading contracts to bet on coin prices without owning them.

Quick Quiz: What is an Exchange?

Step 2: Create Your Crypto Account on MEXC Exchange ✅

We recommend MEXC Exchange because it’s user-friendly, safe, and great for beginners.

How to register:

1. Click the MEXC Sign-Up Link to get started.
2. Enter your email and create a secure password.
3. Verify your email and set up Two-Factor Authentication (2FA) for extra security.
4. Complete identity verification (KYC) for higher withdrawal limits and security.

Tip: Always use a strong password and never share your login details.

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Once your account is set up, buying crypto is easy:

1. Log in to your MEXC account.
2. Go to the Buy Crypto or Spot Trading section.
3. Choose your payment method (bank transfer, card, or others available in your region).
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5. Enter the amount and confirm the purchase.
6. Your crypto will instantly reflect in your MEXC spot walle
7. Join MEXC Today