Home » Confirmation

Confirmation

« Back to Glossary Index

Confirmation means a cryptocurrency transaction has been verified (via the mining process) and added to a block that contains many other transaction.

Confirmations are more blocks containing many more transactions that have been added to the blockchain. Confirmation time varies between cryptocurrencies.

Bitcoin has a confirmation time of about 10 minutes. This means that about every 10 minutes, your bitcoin transaction gets buried deeper within the blockchain, making it more difficult to alter.

Many exchanges will require multiple confirmations until the transaction is considered secure.

Related
Parabolic

Parabolic describes a market that moves a great distance in a very short period of time, frequently moving in an accelerating Read more

Bitcoin Block

Blocks are data structures within the blockchain database, where transaction data in a cryptocurrency blockchain are permanently recorded. A block records Read more

Monetary Policy

Monetary policy refers to the actions taken by a nation’s central bank to influence the availability and cost of money and credit to Read more

XM Bonus