Cryptocurrency Q&A
How long does a ERC-20 transaction take?
How long does a ERC-20 transaction take?
Valentina
Tue Apr 08 2025
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7
answers
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I'm wondering about the duration of an ERC-20 transaction. How long does it typically take for such a transaction to be completed on the Ethereum network?
7 answers
Martino
Thu Apr 10 2025
However, it's important to note that the exact timeframe can vary. While 5 minutes is the norm, there are instances where it may take longer to reach the required number of confirmations.
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Nicola
Thu Apr 10 2025
CoinList adheres to a strict protocol when it comes to considering ETH or ERC-20 transactions as final. This process involves waiting for a crucial number of confirmations.
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Isabella
Thu Apr 10 2025
One such instance is during periods of high network congestion. When the network is overwhelmed with a large number of transactions, it can take significantly longer for each individual transaction to be verified and confirmed.
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Giulia
Thu Apr 10 2025
In such cases, the waiting time for 30 confirmations can stretch from the usual 5 minutes to as much as 4 hours. This delay can be frustrating for users who are eager to see their transaction finalized.
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CherryBlossomBloom
Thu Apr 10 2025
Specifically, CoinList mandates a waiting period of 30 confirmations. This requirement ensures that the transaction has been verified multiple times by the network, thereby minimizing the risk of fraud or error.
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