At the moment, according to https://blockchain.info/unconfirmed-transactions there are almost 160k Unconfirmed transaction in the block chain! And  its been steadily increasing over the past few days

This is almost 500 BTC in transaction fees sitting in the queue equalling a staggering   $9,750,000. And who said it was cheep to send BTC…… Well it still is really, when you compare to a SEPA transaction and it still is a whole lot faster than SEPA.  SEPA takes approx. 3 days and BTC about 6 hours at the moment so yes, its faster.

What does this mean for us mortals that don’t understand the math?  Your BTC payments are going to take way longer then normal to process, in some cases if you have selected a low transaction fee, it could be days!

We have all ready seen the likes of Coin Base and Hash Flare issue warnings about slow transactions and even halting payments. I am sure these are not the only ones with a queue of support calls backed up for days with slightly concerned customers franticly waiting for the payment to go though. believe me, I have been one of those customers.

DONT Panic

If you can see your BTC payment on the blockchain at the receiving address then your payment is in the system waiting to be processed.  There is a pretty good chance all is good in the world, just a little slow.

Navigate to blockchain  and drop the receiving wallet address in the top right search bar and hit return. You should be presented with a screen like this:

Look for the payment amount you sent and that should match to the wallet address you sent it from.  You should then see the confirmations value building up as miners on the network confirm the transaction. This is good and no need to worry. Once you have 6 transactions its safe to say its arrived and you are now waiting on the recipient to pick up the payment and process it there end.

If you see low confirmations or you cant see your payment at all, you need to wait a little longer.  Maybe 6 hours or more at the moment. but it should appears soon.

Bottom line, if you have the address correct you just need to be patient and wait.