What are the confirmations required for Coinbase transactions?

3 answers

• Nov 24, 2021 · 3 years ago
  When you make a transaction on Coinbase, it needs to be confirmed by the network before it is considered valid. Confirmations are essentially the number of times the transaction has been included in a block on the blockchain. The more confirmations a transaction has, the more secure and irreversible it becomes. This is important because it prevents double spending and ensures the integrity of the transaction.
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• Nov 24, 2021 · 3 years ago
  Confirmations are like the seals of approval for your Coinbase transactions. Each confirmation represents a block added to the blockchain that includes your transaction. It's a way for the network to verify and validate your transaction. The more confirmations your transaction has, the more trust and security it gains. It's like waiting for multiple confirmations from different sources before trusting a piece of news.
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• Nov 24, 2021 · 3 years ago
  Confirmations required for Coinbase transactions vary depending on the cryptocurrency. For Bitcoin, it is generally recommended to wait for at least 6 confirmations, which takes about 1 hour. However, for smaller transactions or less valuable cryptocurrencies, fewer confirmations may be sufficient. It's always a good idea to check the specific requirements for the cryptocurrency you are dealing with.
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