0

When it says transactions takes up to 10 minutes, Why do it take more then two minutes when you transfer money into another account

Murch
  • 71,155
  • 33
  • 180
  • 600
Shawnsean da Quadkilla
  • 1
  • 1
  • Related: [What are bitcoin "confirmations"?](https://bitcoin.stackexchange.com/questions/146/what-are-bitcoin-confirmations) and [How secure is zero confirmations?](https://bitcoin.stackexchange.com/questions/20845/how-secure-is-zero-confirmations) – meshcollider Dec 20 '21 at 01:36

1 Answers1

2

On average, it is always ten minutes until the next bitcoin block will be mined. However, there are ways to transact bitcoin without waiting for a bitcoin transaction that includes your payment to be included in a block. For example, you can use the lightning network, which allows near-instant payment confirmation for network participants.

Technologies like the lightning network move payments to a 'higher level' network, which is made secure by the strong settlement guarantees of the bitcoin network. Waiting 10-30 minutes for settlements that reconcile a huge number of individual payments from the higher level network is a much more reasonable architecture, compared to waiting 10-30 minutes for each and every payment to confirm.

chytrik
  • 17,910
  • 3
  • 18
  • 47