Average Bitcoin (BTC) transaction confirmation time 2017-2020
Published by Raynor de Best, Jan 12, 2021
Bitcoin block time decreased over the course of 2020, although this number fluctuated heavily. While not often used for purchases, investors have flocked towards Bitcoin and other virtual currencies for investment. Fluctuations in price could lead to changes in investor activity, which would have correlating changes in transaction times. Given Bitcoin’s security algorithm, which depends on a distributed ledger, an increase in the number of Bitcoins in circulation could also lead to longer transaction times.
Average confirmation time of Bitcoin transactions from January 2017 to December 2020 (in minutes)
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