When you send or receive cryptocurrency, your transaction may appear as pending or show that it requires a certain number of network confirmations before it is completed. This is a normal part of how blockchain networks keep transactions secure and reliable.
What Are Crypto Network Confirmations?
When you send or receive cryptocurrency, your transaction may appear as pending or show that it requires a certain number of network confirmations before it is completed. This is a normal part of how blockchain networks keep transactions secure and reliable.
What Are Confirmations?
A confirmation occurs each time a new block is added to the blockchain that includes your transaction.
Every additional block added afterwards provides one more confirmation, reinforcing the validity and security of that transaction.
Why Are Confirmations Needed?
Confirmations protect the blockchain network from fraud and double spending.
The more confirmations a transaction has, the more secure and irreversible it becomes.
Why Do Wallets and Exchanges Require Multiple Confirmations?
Different platforms require a minimum number of confirmations before crediting your account. This requirement is purely for security and varies depending on the asset and the network.
For example:
Bitcoin (BTC) commonly requires two confirmations, which usually takes around 20 minutes.
Ethereum (ETH) may require around six confirmations, which typically occur within a few minutes.
Other networks have their own confirmation speeds based on block time and network design.
These confirmation requirements help ensure that transactions are fully validated before they are considered complete.
When Will My Deposit or Withdrawal Be Processed?
Once the required number of confirmations is reached, your transaction will be processed automatically and no further action is needed.
If a transaction takes longer than expected, it may be due to network congestion, where high activity slows down the confirmation rate.
Tracking Confirmations
You can track a transaction and its confirmation progress using a blockchain explorer. Simply enter your Transaction ID (TXID) to see real time status updates.
Need more help?
If you have any questions, please don’t hesitate to contact our support team.