Bitcoin is the most valuable cryptocurrency yet. While it’s not a perfect product, it has so many users that a single Bitcoin transaction within the network can well take over an hour. Users also report fluctuating processing times.
In an era of instant payments, Bitcoin transactions quickly become frustrating. While a confirmation should ideally take a few minutes on Bitcoin’s blockchain, each transaction goes through at least of these six confirmation processes to be finalized. Unfortunately, many traders feel like there’s no remedy to this. But not anymore!
Enter Bitcoin transaction accelerators!
As the name suggests, Bitcoin transaction accelerators hasten processing times. No single technology is indeed used to make a Bitcoin transaction faster, so the best accelerators can do is create new blocks in the Bitcoin network and offer traders and miners access to the mempool.
Accelerators are run by miners, who essentially hold the key when it comes to transaction verifications so they can choose to process transactions with a set fee. Due to the high demand for lower transaction times, miners have capitalized on the issue by allowing users to bump their transactions up the ladder.
At the heart of it, a transaction accelerator is simply a way for a user to ask miners if they could verify their transaction more quickly and add it to the next block. As this is a request, it’s up to the miner to grant it.
This request could be granted for a price depending on the accelerator you’re using and how much the processing times are lowered.
Why Do Bitcoin Transactions Take So Long?
Bitcoin transactions go through network nodes that are verified with the help of cryptography. The transaction is then recorded on the blockchain. Even though these transactions look simple, they are complex.
Accelerations are only applicable when the miner has prioritized a transaction and added it to the block. If not, the transaction will be delayed or remain unconfirmed.
What to Look for When Choosing a Site that Offers Bitcoin Transaction Accelerators
- Choose a reputable website
There are lots of websites that claim to offer the best Bitcoin accelerators. While some of them may, others have been seen as scams. So, it’s always important to work with a reputable miner that has lots of experience with transactions.
The best way to know the miner’s track record is by reading online user reviews. There are thousands of Bitcoin users and a handful are always willing to share their experience with an accelerator pick.
For instance, a website like BTC Nitro is renowned for its professionalism, speedy transaction times, and great interactions with users. The btc accelerator will carefully and reliably add your transaction onto the mining network to ensure the transaction is included in the first blocked mined.
The website also comes with one of the friendliest processing fees of $25 whereas other websites would charge upwards of $45. As this guarantees that it will process your submission promptly, the miner requires this acceleration fee to facilitate the process.
- Know what scams look like
Transaction accelerator scams are pretty straightforward and dangerous. Usually, they are about creating fake websites that claim to offer legit services with seemingly convincing guarantees. However, scam websites lure visitors, and take their payment, never to be returned.
Due to the ease of doing this, there are many fake Bitcoin accelerator sites out there. Putting in a little time to run the accelerator site through a domain checker is invaluable to keeping your funds safe.
- Understand your fees
There are millions of Bitcoin users and all of them come from different countries. Because of this, they will face variable exchange rates as no two countries are the same. If the exchange rates are steep, you may find yourself losing huge proportions of your holdings.
Your withdrawal fees will depend on the number of transactions made on a network or the fixed number that’s set by the exchange rate to cover the transaction. When you understand the fees that you’re expected to pay as well as the exchange rates, you’ll know what to expect every time you make a withdrawal.
Remember…
It’s worth noting that there’s no guarantee that your transaction will come in first when using a Bitcoin accelerator. Accelerators are used to make requests, not demands.
Some providers may offer a high probability or prioritization but they can never offer a 100% guarantee due to many unforeseen factors.