Coinbase is at the head of the crypto industry, having over 30M users across the globe. If you’ve ever used Coinbase, you’ll know that the experience is generally hassle-free. On the other hand, it’s natural to run into issues every now and again. In this guide, I’ll be showing you why your Bitcoin transaction might be pending on Coinbase and how you can go about rectifying the issue.
The main reason for a pending Bitcoin transaction on Coinbase is because the Bitcoin network is congested. It’s usually nothing to worry about and your transaction should clear within 1-2 hours. If you don’t receive your transaction within 24 hours, contact Coinbase’s support team.
If you’d like to find out a little bit more about why this happens, keep reading.
Slow Bitcoin Network
Almost always, the reason for a pending Bitcoin transaction on Coinbase is because the network is congested. This means that when a lot of people are sending Bitcoin, the Bitcoin miners have to process more transactions and therefore it takes longer for yours to process. This usually happens at times of high volatility, for example when Bitcoin hit $20,000 in 2017.
How to fix it?
There isn’t really any way you can make the transaction faster after you’ve made it (you can try out Bitcoin acceleration services) but there are ways in which you can prevent it from happening in the future:
- Pay a higher miner fee
- Send at times of low volatility