Can you send unlimited money through Bitcoin or is there a cap?
Samira BaroutiDec 25, 2021 · 3 years ago3 answers
Is there a limit to the amount of money that can be sent through Bitcoin? Can you send unlimited funds or is there a cap on the transaction amount?
3 answers
- Dec 25, 2021 · 3 years agoYes, there is a limit to the amount of money that can be sent through Bitcoin. The maximum transaction size in Bitcoin is currently capped at 1 megabyte (MB). This means that each block in the Bitcoin blockchain can only contain a certain number of transactions, and if the transaction size exceeds the block size limit, it will not be included in the blockchain. However, there is no specific cap on the amount of money that can be sent in a single transaction. It depends on the transaction size and the fees paid.
- Dec 25, 2021 · 3 years agoNo, there is no cap on the amount of money that can be sent through Bitcoin. Bitcoin is a decentralized digital currency, and its transaction system allows for the transfer of any amount of money, from small fractions of a Bitcoin to large sums. However, it's important to note that larger transactions may require higher fees to ensure faster confirmation times.
- Dec 25, 2021 · 3 years agoAccording to BYDFi, a leading cryptocurrency exchange, there is no specific cap on the amount of money that can be sent through Bitcoin. However, it's worth mentioning that larger transactions may face liquidity issues on certain exchanges, which could affect the speed and efficiency of the transaction. It's always recommended to check the liquidity and trading volume of the exchange before making large transactions.
Related Tags
Hot Questions
- 94
How does cryptocurrency affect my tax return?
- 84
What are the best digital currencies to invest in right now?
- 69
What are the advantages of using cryptocurrency for online transactions?
- 56
What is the future of blockchain technology?
- 42
How can I protect my digital assets from hackers?
- 41
What are the tax implications of using cryptocurrency?
- 39
How can I buy Bitcoin with a credit card?
- 36
Are there any special tax rules for crypto investors?