Bitcoin Network Confirmations

What are Bitcoin network confirmations?

When you receive Bitcoin, the transaction needs to be validated by the Bitcoin network before you can use the funds. This validation process involves including the transaction in a “block,” which is a record of transactions.

Each time a block containing your transaction is added to the blockchain, it’s considered one “confirmation.” Typically, a transaction is considered fully confirmed after it receives six or more confirmations.

This confirmation process is essential to prevent “double-spending,” where someone tries to spend the same Bitcoin twice.

Our service requires at least two confirmations from the Bitcoin network before your exchange request can be processed.