Cryptocurrency Q&A
How long does it take to receive bitcoin on Luno?
How long does it take to receive bitcoin on Luno?
DongdaemunTrendsetting
Tue Oct 08 2024
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7 answers
1614
Excuse me, could you please elaborate on the time frame it typically takes for a Bitcoin transaction to be credited into an account on the Luno platform? I'm curious about the average duration from the moment a transaction is initiated until the funds are visible and available for use within the Luno wallet. Additionally, are there any known factors that might influence this timeline, such as network congestion or verification delays? Understanding these details would greatly assist me in managing my transactions more efficiently. Thank you for your time and consideration.
7 answers
BlockchainVisionary
Thu Oct 10 2024
The "Block Time" refers to the time it takes for a new block to be added to a blockchain, which is crucial for the confirmation and security of transactions. Different cryptocurrencies have different block times, which can impact their transaction speeds.
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Michele
Thu Oct 10 2024
Cardano (ADA) is a cryptocurrency that has a much faster block time than Bitcoin and Bitcoin Cash, with a block time of only 20 seconds. Despite this, the expected minimum receive time to Luno for Cardano is still relatively short, at 5 minutes.
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Tommaso
Thu Oct 10 2024
Luno is a popular cryptocurrency exchange platform that offers users the ability to buy, sell, and store various cryptocurrencies. When users send or receive cryptocurrencies through Luno, they can expect a certain minimum receive time.
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Dario
Thu Oct 10 2024
For Bitcoin (BTC) or (XBT), the expected minimum receive time to Luno is 30 minutes after the block is confirmed. This means that once a Bitcoin transaction is included in a block, it will take approximately 30 minutes for it to be credited to the user's Luno account.
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Martina
Thu Oct 10 2024
Cryptocurrency trading involves various aspects that investors and traders need to be aware of, including the exchange platforms they choose to conduct their transactions. One important aspect is the trading name or the "NoteName" used by exchanges to identify specific cryptocurrencies.
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