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23
Why Are Bitcoin Transactions Taking Longer than Usual
Posted by Coinify on 23 May 2017 04:05 PM

Message about overloaded industry

 

Dear customers,

 

You have probably noticed that, in the last week or two, orders have taken longer than usual to be completed. Due to the increased interest in cryptocurrency from all around the globe which has manifested itself over the last few weeks, the industry as a whole has been put under a lot of pressure.

 

In our company, we have a significant increase in orders and support requests. We are working as fast as we can in relation to our business partners, on whom we depend upon, to deliver your Bitcoins and to answer your questions. You are always welcome to contact us at https://www.coinify.com/support  if you have any questions related to your order.

 

The blockchain network is also affected. In the last approximately 30 days, there has been a massive increase in transactions waiting to be confirmed. For example, on the 24th of April the peak number of unconfirmed transactions was around 7,000, while yesterday it was over 150,000. See here: https://blockchain.info/charts/mempool-count?timespan=30days. Because the industry is interconnected, the pressure exerted on the network reflects in delays in the activity of everyone involved.

 

Memopool count

Image source url: https://blockchain.info/charts/mempool-count

 

This period we are going through is both a challenge and a test for all cryptocurrency enthusiasts, a test which we all need to pass in order to be part of the exciting journey. We, at Coinify, will do our part and work as fast as we can to satisfy your demand for cryptocurrency and to be a productive player of the industry.

 

 

Thank you for your understanding and patience while we address the situation.

 

Coinify Team

 


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