Recently, as the price of bitcoin transactions has risen, more and more people have started paying attention to the currency circle and want to know how to invest in bitcoin.
For Newbees in the currency circle, if you want to invest in bitcoin successfully, you should understand some of the conditions of bitcoin. Among them, the timing and rules of bitcoin transactions need to be understood the most. Then, what are the timing and rules of bitcoin transactions? Let us reveal the timing and rules of bitcoin transactions.
Source: img
Bitcoin Transaction Fee:
Mining requires a lot of energy and technology, so bitcoin transactions require additional fees. Transaction fees help determine the priority of the queue — the faster the transaction, greater the price you are willing to pay the miner to verify your transaction. Bitcoin transaction fees are usually expressed in "satoshis per byte".
Bitcoin fees are not mandatory, although they do encourage miners to process your transactions faster. Transaction fees are usually determined by the user to create a transaction data block. These rates and their associated wait times will vary with traffic fluctuations.
In addition, you can pay a high fee (for example, 300 bytes per byte) for mining the transaction in an immediate queue or next block. Your transaction can be completed within the next 10 minutes. Bitcoin is a peer-to-peer system based on users, so the system fluctuates and is easy to use. At the time of writing, bitcoin transactions have become surprisingly expensive — for example, the transaction fee for transferring 0.01 BTC ($ 42) is $ 4. As bitcoin continues to evolve as a platform, the roller coaster of rates, fees and waiting times may come to a standstill.
Bitcoin transaction time and rules:
1.Bitcoin Transaction Time:
Bitcoin is a virtual encrypted digital currency in the form of P2P. Peer-to-peer transmission means a decent payment system. The time of bitcoin transaction is 7 * 24 hours unlike financial stocks and stock market, which will be closed on holidays. Bitcoin can be operated 24 hours a day, is not limited by time, and will be unable to purchase foreign cryptocurrencies due to geographical restrictions. It requires only one network and one supported exchange.B
2. Bitcoin Transaction Rules:
Bitcoin is a t + 0 transaction, ie you can buy and sell as many times as you want in a single day.
Through the introduction above, I believe you got understanding of the timing and rules of bitcoin transactions. bitcoin is a relatively low-risk investment project, but how small the investment risk is, it should not be ignored. You cannot be sure that you can make money just because other people make money by investing in bitcoins. Therefore, investors can use their free money to invest in bitcoins.
