What does pending transaction mean in the context of cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  When a transaction is pending in the context of cryptocurrencies, it means that the transaction has been initiated but has not yet been confirmed by the network. This can happen due to various reasons such as network congestion or low transaction fees. Pending transactions are usually included in a pool of unconfirmed transactions and are waiting to be picked up by miners for verification and inclusion in a block. Once a pending transaction is confirmed, it becomes a part of the blockchain and is considered as a completed transaction.
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• Dec 17, 2021 · 3 years ago
  Imagine you're at a busy restaurant and you've just placed your order. The waiter takes your order and gives you a receipt, but you have to wait for the kitchen staff to prepare your food. Similarly, when a transaction is pending in cryptocurrencies, it means that your transaction request has been received by the network, but it's waiting for miners to process and validate it. Once the transaction is confirmed, it's like your food being ready and served to you.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, a pending transaction in the context of cryptocurrencies means that your transaction has been broadcasted to the network but is still waiting for confirmation. This can happen due to various factors such as network congestion or low gas fees. Once the transaction is confirmed, it will be reflected in your account balance. If you have any concerns about a pending transaction, feel free to reach out to our customer support team for assistance.
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