How Long does it take for a Bitcoin Transaction to be Confirmed?

Question:

My Bitcoin transaction is stuck for two days and it isn't still completed, please help me to understand when it will confirm?

Answer:

Here's how to know the estimated time when your Bitcoin transaction will confirm:

First enter your transaction ID on mempool space search bar. To view the transaction details, click on the search result. The transaction page will open and display all the relevant information.

Verify the cost of the transaction that you are paying to the miner to process your transaction.

On the transaction page, the mempool provides an estimate of when the transaction will complete. However, this estimate should not be considered very reliable, as it is only a guess.

Go back to the mempool space homepage and check the current fee rates that people are offering to miners for their transactions.

When there is more activity on the Bitcoin blockchain, people will offer higher fees because transactions with higher fees will confirm faster.

You can see that your transaction fee is lower than the fee that miners are willing to accept for Low Priority transactions. This means that your transaction will not confirm until the fee rate drops to 18.1/vB and network becomes less congested.

My transaction is still not confirming while fee rates has dropped. Why is this?

Even though the fee rates have dropped, your transaction might still be stuck when the network is still congested, your transaction is too small, or you used a lower fee comparatively. It may still take some time for your transaction to confirm.

To ensure that your transactions confirm quickly, use a wallet that allows you to set a custom fee, and monitor the network and be patient.