I Am Disappointed With the HITBTC Exchange.
BTC Withdrawals Still Unconfirmed After 4 Days.
Do you use the HITBTC crypto trading exchange? Over the last few months it has emerged as one of my favorite Crypto Currency exchanges, until this week! On Tuesday I tried to withdraw a considerable amount of Bitcoin to another wallet and it still has not been confirmed. You can see the Bitcoin Transaction ID here.
Ticket Response From the HITBTC Support Team.
What I Will Do.
I will take my funds off of HITBTC until this is resolved. Instead of using Bitcoin I will use Litecoin. Yes, I will have to pay extra fees but at least my friends are having success withdrawing from the HITBTC exchange.
Hi hilarsky,
thanks for the information. You should wait until Monday or Tuesday and see if the situation changes... Let us know. Hope you will receive your bitcoin safely. I never use bitcoin between exchanges platforms but only litecoin or ethereum. It takes about 30 minutes for Litecoin, 15 minutes for ethereum.
Have a good week-end
It is not! the fault of Hitbtc or any other exchange.
BTC network is clogged right now. There are 113000 unconfirmed transactions according to blocktivity right now. Some users are waiting for 3 weeks now to get their transaction confirmed, because they did not pay a high enough fee for the miners. The standard fee brings you directly to the bottom of the waiting list...
Miners always mine the most profitable transactions first. If they don't fix scalability you might wait for months now to ever get it confirmed...
Don't accuse Hitbtc of being responsible for it. Because they are not, the outdated sourcecode of BTC is.
You can't adjust the fees so therefore it is there fault. Thanks for upvoting your own comment to the top.
Hilarski, if you'd like a better understanding of why the BTC network is congested I would gladly take time to help :)
No one can control the speed of verification on bitcoin, aside from increasing mining speed(which does occur at the completion of every block). certainly not an exchange.
This slow/gogestion is just proof that bitcoin need to be reserved for moving only large assets, and we need to embrace other crypto for transactions under $20k or so. This would help the congestion immediately.
The influx of hundreds of thousands of people buying fractions of btc and transferring it all day long is what has things slowed down.
I advise my friends that playing with bitcoin is like waiting in line at Walmart during the holidays, with only one register open. I think I have known snails that move faster.
I have seen a btc transaction take 23 days before, especially when transferring from one exchange to another. Not sure why, but it seems to delay to verification on the receiving end. I have seen that happen with multiple cryptos, so I always transfer to my hardwallet before going to another exchange. Best of luck out there!
If you are looking for a nice upcoming exchange check out upcoin.com they offer free 500 USD in trading fees right now for the next ~65k users hurry up!
Reflink free: https://steemit.com/free/@napkin/500-usd-free-in-trading-fees-for-upcoming-exchange
Wow.... Never knew of this cos I've never attempted bitcoin withdrawal on hitbtc.com. I need to do something drastic too and ASAP.
You can use Bitcoin Cash instead and the fees will be much lower as well.
BTC Withdrawals Still Unconfirmed After 4 Days.
Instead of using Bitcoin I will use Litecoin.
Good strategy. BTC fee is extremely high. Useful update.
~Followed & Upvoted
It should be fine after few days but better to do it in a safe way.
I can relate in a way, same thing is happening with me on coinbase and it has been over a month now and still nothing . Honestly I don’t know which to use now
Binance is the best exchange for trading cryptos in my opininion. You can sign up by clicking the link bellow:
Sign up to Binance
That's wonderful information you gives us @hilarski. I know HITBTC exchange very better site for exchange BTC. But this week what happened it. Most unconfirmed transactions yet. May be immediately solve this problem them. The exchange offers USD, EUR, GBP to BTC as well as a collection of the most common crypto to crypto trading pairs. The volume has been steadily rising providing decent liquidity and a narrowing bid ask spread.
Finally you've get terrific decision. Instead of using BTC, You'll use Litecoin. Great one.
i hate hitbtc very slow and bad :(
I've not found it to be bad previously, but lately a lot of exchanges have been bogged down. HitBTC was not spared.
What's good about them is that they are still one of the few major centralized exchanges where you can withdraw quite a bit without providing additional information about yourself. What's less good is that they are centralized.
Yes now some exchanges are becoming in a problem, the best idea is use some of them buy coins and withdraw to avoid problems,plus wait 4 days is totally unacceptable. Regards
this is great post sir.very useful information.
Thanks @hilarski
Have a great day