What are the confirmation requirements for transactions on Coinbase?

3 answers

• Dec 15, 2021 · 3 years ago
  When you make a transaction on Coinbase, it needs to be confirmed by the network before it can be considered valid. The confirmation process involves miners verifying the transaction and adding it to a block on the blockchain. The number of confirmations required depends on the cryptocurrency you are transacting with. For example, Bitcoin typically requires 6 confirmations, while Ethereum requires 12. This ensures that the transaction is secure and cannot be easily reversed or tampered with.
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• Dec 15, 2021 · 3 years ago
  The confirmation requirements for transactions on Coinbase are in place to prevent double-spending and ensure the integrity of the blockchain. Each confirmation represents a block being added to the blockchain, and the more confirmations a transaction has, the more secure it is. It is recommended to wait for a sufficient number of confirmations before considering a transaction as final.
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• Dec 15, 2021 · 3 years ago
  At BYDFi, we follow similar confirmation requirements for transactions. The number of confirmations required may vary depending on the cryptocurrency, but the underlying principle remains the same. Confirmations provide a level of security and trust in the transaction, and it is important to wait for an adequate number of confirmations before considering a transaction as fully confirmed.
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