Network Confirmation

What does the concept of “Network Confirmation” entail?

Once you initiate a transaction, your transaction is sent to the network for processing and integration into the blockchain. The process of including your transaction in the block structure is called confirmation. Each new block added to the chain represents one confirmation. When your transaction receives the required number of confirmations, the cryptocurrency becomes available for further use.

The transaction confirmation speed depends on several factors:

• The current network congestion;
• The size of the transfer fee;
• Your internet connection speed, as well as other factors.

Security standards vary for different platforms, and the number of confirmations required to complete a transaction may vary. Typically, the confirmation time ranges from 30 minutes to several hours, but during periods of high activity, it may take several days.

The required number of confirmations for currencies on our platform: