How long does a swap take?

The time for an exchange on Bitnovo can vary, but with fast networks, it completes in a few minutes.

Factors influencing speed:

• Cryptocurrency network: Some networks (e.g., XRP, Solana) are faster than others (e.g., Bitcoin, Ethereum).
• Required confirmations: For security, your transaction needs a minimum number of network confirmations. More confirmations mean more time.
• Network congestion: If the blockchain has a lot of "traffic," your operation might take longer.
• Network fees you send: A higher fee usually prioritizes and speeds up your transaction. A very low fee can slow it down considerably.

In summary:

Fast exchanges happen with cryptocurrencies on agile networks and appropriate network fees. Congestion and confirmations are the biggest waiting factors. Once Bitnovo receives and confirms your deposit, the exchange is processed almost immediately.