Unique things to know about cryptocurrency

In general banks that are crediting money to your account, they instantly send you a notification. But that’s not how cryptocurrency transactions operate.

Refreshing the transaction log every few seconds is absolutely normal when starting out in the cryptocurrency universe. Moreover, it’s completely normal for transactions to take longer than 30 minutes to complete.

How long do blockchain transactions take to be processed?

Generally, the processing time for cryptocurrency transactions ranges from a few minutes to half an hour (fiat transactions can take even longer). Usually this period of time is based on various elements:

• generally it is the commission costs (the greater the fee is, the faster it’s processed), the blockchain workload (the more transactions are processed at once, the longer you have to wait);

• size of the transaction (e.g., a 0.1 ETH transaction will be processing faster than a 10 ETH one).

If your transaction is still not completed in more than 1 hour, contact the customer support of the exchange (APP or website) that you are using.

Crypto terms:

Fiat:

A form of currency known as fiat money is one that is not backed by any physical good, like gold or silver. Usually, the government that issued it declares it to be legal currency. Fiat money has occasionally been created throughout history by regional banks and other organizations.

Exchange (transferring, buying and selling):

Platform where you can transfer your money to buy crypto currency.

Here are some of the platforms people are using and recommending:

Mainly for US and other international countries

Register and deposit more than $50 into your account. We’ll both get a 100$ cashback voucher! Join the largest and most trusted exchange in the world!

http://links.zapifyglobal.com/recommend-binance

Nexo for Americans and Canadians with USA Bank Accounts

http://links.zapifyglobal.com/nexo

NDAX for Canadians

http://links.zapifyglobal.com/ndax

Learn about storing your cryptocurrency safely on a hardware wallet. Click Here

(not financial advice)