Why is Bitcoin Withdrawal Slow (Why is Successful Withdrawal Not Showing in Account)

Why is Bitcoin withdrawal slow? Editor’s note: This article is from Cybtc.com, author: irishash, authorized repost from Odaily Planet Daily.

Recently, the transaction speed of Bitcoin has been slow and the fees have been expensive, which is due to the gap between exchanges.

In the field of cryptocurrency, users usually need to spend money to purchase encrypted assets to pay for withdrawal fees – but in most cases, these fees can lead to some unusual situations:

1. Bitcoin network usage is too low;

2. Exchanges cannot receive funds from users in a timely manner;

3. Miners are too sensitive to prices.

Why is Bitcoin processing speed slow? This is because when a block does not contain any information, this problem becomes difficult to solve. 2. Why is Bitcoin withdrawal slow? Bitcoin is one of the world’s most secure digital tokens. It is a peer-to-peer electronic cash system that can receive data worth billions or millions of dollars directly from central computers; it operates similar to a credit card system. However, if one day an entity loses control due to its own activities, it will cause people to lose all funds. Therefore, to ensure security, we must ensure that the node can confirm and verify whether each person owns a specific type of Bitcoin; we must also consider other hardware device problems that may occur. So, if you want to make your cryptocurrency faster or more useful, you should find a company to make a small payment. Of course, this service is not provided by centralized institutions, but is realized through third-party hosting institutions.

In addition, many exchanges also face high gas costs and lack of transparency. Although large banks like Coinbase often store the encrypted assets deposited by customers in one place, over time, more and more users are looking for another company to obtain their private keys as collateral. However, ordinary investors are not always willing to take such risks.

In addition to these reasons, due to the high volatility of encrypted assets and the impact of external factors, some exchanges have even started to stop providing services to users who have been affected – for example, Tether (USDT) holders may transfer their assets to another custodian in exchange for encrypted assets in a fiat-supported wallet. In fact, there is currently no way to completely prevent users from sending their bitcoins to custodians.

According to a report released by BitMEX Research, as of December 31, 2020, more than 10 million BTC has been transferred out of exchanges.

Nevertheless, there are still some major exchanges that choose to suspend withdrawals, such as Kraken and Huobi, but they are still in the early stages.

Why is Successful Bitcoin Withdrawal Not Showing in Account

According to Cryptoglobe, Bitcoin was successfully withdrawn from the Bittrex exchange at around 4:40 AM, but the transfer was received without showing up in the account. The reasons are as follows: 1. Insufficient deposit amount

2. The issue of “withdrawal failure” has always existed. If a user sends a balance of 10 BTC to the withdrawal party before 11:04 and the balance is less than 100 BTC (currently exceeding $1000), the withdrawal does not reach the expected amount. 3. One hour later, the money was transferred to centralized exchanges such as Binance. 4. “Did not arrive” after 2 hours.