Why bitcoin transaction is too slow?

This is common question between the new cryptocurrency traders. Sometimes they become frustrated due to slow rate of transaction. Is it a problem or not?

Bitcoin transaction has increased dramatically current days but miners fees has not increased that much. As miners are dependent on transaction their fees, it should be more than current rate.

Now think John will send some bitcoin to Emma. So John needs to send bitcoin to Emma's wallet address. Once the transaction is done both of them have to wait for confirmation. If John send coin to a larger network, he needs to wait more time than a regular transaction time . After verification by a miners, these coin will be added to bitcoin block. All of the transaction cost is given by sender. If someone wants to send quickly he can pay more than others, then his transaction will be verified quickly.

In our next post we will discuss why higher transaction fees is required for a faster transaction.