This Is How Long It Takes To Transfer Dogecoin (DOGE)

Key Takeaways:

• On average, Dogecoin transfers may take between 40 and 60 minutes where network congestion and wallet addresses are the key factors that determine the speed.
• Traders can potentially speed up a Dogecoin transfer by paying a higher gas fee, but this is not guaranteed.
• Kraken is an example of a large crypto exchange that requires fewer network confirmations (40) than most others.

Dogecoin (DOGE) is the world’s most popular meme coin cryptocurrency that started as a joke. This article looks at how Dogecoin transactions work, the process of transferring it from an exchange to a wallet, and what factors can impact how long it takes to transfer Dogecoin.

How Long To Does It Take To Transfer Dogecoin?

Dogecoin takes 1 minute to execute one block – which makes it 10 times faster than Bitcoin. It can do 30 transactions within one minute of getting confirmation from the cryptocurrency exchanges. The exact time to complete a Dogecoin transfer depends on the type of wallet that’s being used. The official wallet of Dogecoin, Dogecoin Core, provides a better transfer speed than a cryptocurrency exchange.

For example, transferring DOGE to Coinbase or Binance, which requires 60 confirmations each, can take up to 1 hour to complete. On Kraken, however, the transaction time is around 40 minutes since only 40 confirmations are needed. Other factors, such as network congestion and wallet addresses, are equally important in the Dogecoin transaction speed.

That said, while Dogecoin is not the fastest cryptocurrency to transfer in the market, it is not the slowest either. The slowest crypto, to this day, is Bitcoin. Furthermore, since the arrival of the Ethereum Merge, Dogecoin has become the second-largest Proof-of-Work Crypto.

Factors That Impact The DOGE Transfer Speed

Investors can buy Dogecoin on many leading cryptocurrency exchanges that can be transferred to other platforms and wallets, including the official Dogecoin Wallet. When ascertaining the speed of a Dogecoin transaction, there are three main factors that come into play:

• Network congestion: The biggest determinant of Dogecoin’s transfer speed is network congestion. It is one of the most sought-after cryptocurrencies in the world and, thus, has a high number of users. However, that is not the only factor behind network congestion; the number of DOGE tokens transferred also contributes to this issue. Dogecoin is an inflationary cryptocurrency whose count increases through mining. Therefore, there is always a risk of its value dropping severely. As such, crypto traders often buy hundreds of thousands of Dogecoins sometimes, which has a severe impact on the network. The number of users interested in this crypto only aggravates this issue.
• Destination Address: The second major factor impacting Dogecoin’s transfer speed is the destination address. The type of destination address depends upon the type of wallet. For instance, transferring Dogecoin to a non-custodial wallet such as a Trust wallet or a cold wallet such as Trezor takes more time than transferring it to the custodial wallets hosted by cryptocurrency exchanges.
• Confirmations: The third major factor influencing the transfer speed of Dogecoin is the number of confirmations. Normally, it takes 60 network confirmations to complete a Dogecoin transaction. In the case of Kraken, 40 network confirmations are required to transfer Dogecoin, which can take up to 40 minutes.

This Is How Many Confirmations You Need

Dogecoin can only be sent through one blockchain, the Binance Smart Chain. Thankfully, since it is one of the most popular cryptocurrencies worldwide, many crypto exchanges and wallets support it. It allows users to transfer their DOGE holdings from one wallet to another and from an exchange to a wallet.

Most cryptocurrency exchanges that have listed Dogecoin require 60 confirmations for the transfer of DOGE to be completed. Here are the confirmations that top cryptocurrency exchanges in the world require to transfer dogecoin.

• Kraken: 40 confirmations
• Coinbase: 60 confirmations
• Binance: 60 confirmations

You Can Speed Up Your DOGE Transactions

One of the many questions many investors ask is whether there is a way to increase the transaction speed of Dogecoin. This is partly due to some reports on Reddit that say the transfer of Dogecoin can take up to several days. The only way to increase the transfer speed of Dogecoin, or any crypto for that matter, is to increase the gas fee payment. Increasing the gas fee payment allows the node operators to prioritize one transaction over the year.

For instance, if one transaction's gas fee is barely 100 DOGE and the other has a gas fee of 5000 DOGE, the network will prioritize the latter. This is similar to allowing an individual to cut through a line and get ahead. Why does it work? Blockchains promote large transactions while deterring low-value or junk transactions.

Frequently Asked Questions