Using simplewallet (now monero-wallet-cli), how long does a typical transfer take to be recognized as part of the total balance of the receiving wallet? Does the mixin # influence the transfer time? Does the amount of monero being transferred affect the speed?
1 Answer
how long does a typical transfer take to be recognized as part of the total balance of the receiving wallet?
It varies, but in general it will take less than 5 minutes. Once the receiving wallet scans and identifies the transfer as belonging to the receiving wallet, it will be included in the total balance. A cautious user of any cryptocurrency, however, will wait for additional blocks to be found after the transfer. This ensures that the funds are secured in the receivers wallet.
Does the mixin # influence the transfer time?
Generally, no. The mixin does increase the size of the transfer, so it is possible for very large mixins to be delayed on the network due to either propagation of the transaction data itself, or that the transaction is so large that a miner doesn't want to include it in a block due to block size penalties.
Does the amount of monero being transferred affect the speed?
Generally, no. However, if you are creating a transaction that uses a lot of outputs, then the transaction will be large and the same thing described above
answered Sep 25, 2016 at 19:02
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1I'd just like to add, that due to Monero privacy features, any new output will be locked for 10 blocks before you can actually spend it. On a "busy" wallet this is not a problem as you will have plenty of older, non-locked outputs, but for a fresh wallet where you just received your first Monero, this could confuse a new user. Commented Oct 11, 2016 at 1:35