WHY IS BITCOIN SLOW?
One of the popular concerns about bitcoin: it's too slow for everyday use especially in terms of transaction confirmation. Why is it so? In brief, the longer confirmation means that more people are interested in using bitcoin for transactions. That’s why BTC network traffic may produce delays.
In fact, transactions on the Bitcoin network itself are controlled by the bitcoin miners. Confirmation might be slow because of bitcoin network traffic. It can be high due to the increasing demand for transactions per block. Block sizes are limited, so transactions that exceed the capacity for a block get stuck in a queue for confirmation by the miners.
A good example is the 2017 bull market when traders and investors were forced to wait days for their Bitcoin transactions to clear. Also, the higher demand for bitcoin means a higher transaction fee. However, we have found a solution for our clients. You are welcome to check how NOT to pay transaction fees!
