Cryptocurrency Q&A
How many confirmations for Bitcoin on Coinbase?
How many confirmations for Bitcoin on Coinbase?
CherryBlossom
Sun Dec 01 2024
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6 answers
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I'm wondering about the number of confirmations needed for a Bitcoin transaction on Coinbase. I want to know how many confirmations are typically required before a transaction is considered complete on the platform.
6 answers
HanbokGlamourQueenEleganceBloom
Tue Dec 03 2024
Confirmations play a crucial role in the validation of Bitcoin transactions.
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BlockchainLegendary
Tue Dec 03 2024
Initially, a Bitcoin transaction is deemed unconfirmed. This status persists until the transaction is recorded in a block on the blockchain.
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Tommaso
Tue Dec 03 2024
Once the transaction is included in a block, it receives its first confirmation. This signifies that the transaction has been added to the public ledger of Bitcoin transactions.
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CharmedEcho
Tue Dec 03 2024
As the blockchain grows, each subsequent block provides an additional layer of confirmation to the transaction. Each new block adds to the transaction's credibility and security.
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Federico
Mon Dec 02 2024
Coinbase, a popular cryptocurrency exchange, has set a standard for transaction finality. They require a transaction to have at least 3 confirmations before considering it final.
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