A bitcoin transaction requires six confirmations before it is processed. Photo: Bloomberg

Explainer: Why does it take so long and cost so much to trade bitcoin?

Name: SCMP
Telephone: +852-2680-8888

The average transaction fee has jumped from 14 US cents in early 2016 to US$16 at the start of this year.

Topic | Explainers: Business

Josh Ye

Published: 12:30pm, 7 Jan, 2018

Updated: 3:02pm, 18 Jan, 2018

A bitcoin transaction requires six confirmations before it is processed. Photo: Bloomberg

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Josh Ye

Josh is a reporter at Abacus. He was previously a reporter and a video producer for the South China Morning Post. Graduated from the University of Pittsburgh with a major in English and philosophy, he's now pursuing a law degree at the University of Hong Kong. Outside of work, he's a pop culture junkie, an avid listener of audiobooks and a huge fan of American sports.