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How long does it take to send Bitcoin?

At Luno, our goal is to release 99% of Bitcoin send transactions in less than a minute. You can send up to 10 Bitcoin in any 24 hour period from Luno and your transaction will be processed in seconds. This is a security measure.

If you exceed 10 Bitcoin per 24 hours, your transaction will remain pending until you are within these limits (24 hours) OR until we process a manual send transaction batch, whichever comes first. 

Pending send transactions are released manually in batches several times a day, Monday to Friday, at the the refill times shown in the table below.


Currency
[Timezone]

Send cut-off time

Send release time

Bitcoin
 [GMT]

06:00
10:00
13:00
15:00

07:00
11:00
14:00
16:00


Example 1

John requests to send 12 Bitcoin to a friend. Because his transaction is larger than 10 Bitcoin, it will be manually processed during Luno’s next wallet refill. The entire 12 Bitcoin will be pending until it is processed.


Example 2

Tina requests to send 6 Bitcoin to a friend. The 6 Bitcoin is automatically sent within seconds. Immediately afterwards, Tina requests to send another 8 Bitcoin to somebody else. Because 6 Bitcoin + 8 Bitcoin is more than 10 Bitcoin in a 24 hour period, Tina’s second send transaction (8 Bitcoin) will remain pending until the next wallet refill (from the table above).

If this is a weekend, Tina will wait 24 hours for her send volume in the last 24 hours refreshes and her 8 Bitcoin send will be released automatically. 


When will my Bitcoin arrive at its destination?

Bitcoin transactions must be confirmed on the Blockchain before they are considered valid. This takes time and is not within Luno’s control.

Confirmation times vary. Confirmation times depend on the transaction fee paid by the sender of the Bitcoin. If the fee is high enough, transactions can obtain three confirmations in as little as 30 minutes. If the fee is low, it may take days for a transaction to be confirmed.

Luno adjusts transaction fees for our customers to ensure any Bitcoin sent from a Luno wallet is prioritised by the network and confirmed quickly. You can read more about that in our blog post on dynamic fees.


Related articles

How do I send Bitcoin?

What does it cost to use Luno? Does Luno charge any fees?


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