Questions tagged [confirmation requirement]

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CryptoNerd CryptoNerd Wed Oct 02 2024 | 6 answers 1211

Is it safe to raise the confirmation requirement on Coinbase?

Are you considering increasing the confirmation requirement on Coinbase? If so, it's a valid concern to question whether it's SAFE to do so. Higher confirmation requirements can increase security by ensuring that transactions are more thoroughly verified before being completed, but they can also slow down transaction speeds and potentially lead to higher fees. It's important to weigh the pros and cons of increasing the confirmation requirement before making a decision. Factors to consider include the value of the transactions being made, the risk of double-spending attacks, and the level of security required for your specific use case. It's also worth noting that Coinbase, as a reputable and secure exchange, already has robust security measures in place to protect users' funds. Therefore, increasing the confirmation requirement may not be necessary for all users. Ultimately, the decision to increase the confirmation requirement on Coinbase will depend on your individual needs and risk tolerance. It's recommended that you consult with a qualified professional to discuss your options and make an informed decision.

Is it safe to raise the confirmation requirement on Coinbase?

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