How Long Does Ethereum (ETH) Take To Transfer?

The time taken to complete Ethereum transactions depends on many factors. This article will discuss how long ETH transfers take between wallets, exchanges, Ethereum to Coinbase, paper wallets, etc.

Are There Fees When Trading ETH?

Yes, there are fees when trading ETH because every transaction requires computational resources to complete. The fee or 'gas' is vital to the Ethereum blockchain. It’s the fuel that powers it to run every transaction.

Since fees on the Ethereum blockchain are usually much less than 1 ETH, the network uses a metric method of denominated units known as “Wei” (1 ETH = 1 quintillion Wei). Gigawei (1 billion Wei) is the most common Wei denomination representing gas fees.

If your Ethereum Blockchain Explorer shows that you will be charged 100 gigawei, you should expect a base fee of around 0.0000001 ETH to transfer ETH ($0.00035 at press time). However, the base fee is only one component of the total fee.

Total Fee = Gas unit (limits) * (Base Fee + Tip).

Gas units are the maximum fees you are willing to use on a transfer – on average, $20.

The base fee is the minimum gas needed to add a transaction to the Ethereum network.

Tips are incentives you include to have your transaction verified faster – especially during network congestion.

Transfer Time of ETH Transactions

ETH transfers between wallets differ with the type of wallet you are using. Hot wallet to other wallets transfers are usually fast. Cold wallet to other wallets transfers are longer because of the extra security layers.

Ethereum to Coinbase transfers take longer because exchanges require more confirmations to complete transfers. The process reinforces the transfers and protects the marketplaces from double-spending.

ETH transfers between exchanges take a few minutes to days to complete. The process is determined by network congestion and exchange confirmation procedures.

Transferring ETH into a paper wallet typically takes 10 to 15 minutes. However, it may take longer if your funds are in a cold wallet.

Conclusion

Generally, ETH transactions are fast. But the actual transaction time varies with where you are sending your Ether and the network congestion.

If you want to monitor the gas fees when sending ETH, tools like Etherscan, Blockchain ETH Gas Estimator, ETH Gas Station, and Cryptoneur Gas Fees Calculator will make your work easy.