What is Bitcoin transaction confirmation and how long does it take to confirm?

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2017-03-27 00:00:00:


To transfer Bitcoin from one wallet to another, you need to receive confirmation from the Bitcoin System itself. Without confirming the transaction, the user cannot dispose of Bitcoin, which is formally considered his property. This process has a protective function. In this way, the system prevents the reuse of the same Bitcoin units. The confirmation speed depends on a number of known factors: the congestion of the bitcoin network, the size of the commission for the transfer, the speed of the Internet connection, the technical health of the resource where your wallet is located, etc.