Bitcoin Forum

I sent bitcoin today but after more than 1.5 hours of waiting, I could only get 9 confirmations. Still waiting! Haaaaaaay.....

How many confirmation do you actually need though? 9 confirmations is more than enough for any kind of transaction. Even Binance itself only requires 1 confirmation for deposits.

I am not sure, my exchange may require 10 or more confirmations.  I've just glued to the PC waiting.

Bitcoin's block interval is 10 minutes, you're likely to only get 9 confirmations on average.

After 6 confirmations, the probability of you getting attack is only restricted to 51% attacks and the feasibility of it. The confirmation pretty much never matters after 6, because there isn't any reason why you would need more than 6. The speed is mostly determined by the time it takes for the first confirmation because that is what matters to most people.

An exception being block rewards/generation transactions.

Weird. Most exchange really don't require 10 confirmations for Bitcoin, that is an odd number.

Pretty much what ranochigo said.

But just to add if you're wondering, Bitcoin isn't slow for no reason. It's slow to remain as secure and as decentralized as possible. If you want something cheap and almost instant, you can always transact using the typical payment rails or probably use the typical centralized cryptocurrencies.

10 confirmations is a very weird number. Nowadays, the most common number is 2 confirmations. Some gambling sites require 1 confirmation but it is not too popular.

I tried to find website to list required confirmations for Bitcoin deposits and could not find. Instead, I found that article, How many Bitcoin Confirmations are Enough? (https://www.buybitcoinworldwide.com/confirmations/)

Assumes the number is 6 confirmations (that is outdated), you can see how faster the waiting time with Bitcoin transaction if you want to have similar safety with other cryptocurency transactions. howmanyconfs.com (https://howmanyconfs.com/), its github (https://github.com/lukechilds/howmanyconfs.com)

Which exchange did you use so 9 confirmations have not been revealed. Indeed there are some exchanges that charge more than 10 confirmations even up to 20 confirmations. I found this when I made a deposit on the Bibox exchange.

if you still haven't received a notification, immediately use the support service to the party concerned, so they can recheck the transaction you made.

Which exchange is that? Just want to know if it is not a scam site. And we can be able to help you to check the number of confirmations needed for deposit.

Which wallet is that? Using noncustododial wallet like Electrum and all other noncustodial wallets I have used takes only 1 confirmation. Even Electrum can be able to spend unconfirmed transactions if enabled. On noncustododial wallet, you will have the full control, only 1 confirmation is enough. Even, on the centralized exchanges, the exchange service would have gotten the coin after 1 confirmation, but they programmed it according to their terms of service in a way someone (not having full control which are all centralized exchange users) will not be able to fraud by withdrawing immediately after deposit is having only 1 confirmation. Recently, many exchanges has taken their deposit to 1 confirmation while the withdrawal after the Bitcoin deposited have 2 confirmations, or more confirmations.

Better Coins for speed are
Litecoin : 2½ minute blockspeed
Doge     : 1 minute Blockspeed
Cardano and Algorand : less than 20 seconds

I was surprised cause I have never seen a situation where a transaction to no custodial wallet requires 6 confirmation cause a single confirmation is always enough while the centralized exchange confirmation defers but most exchanges require 2-3 confirmation before the BTC can be withdrawn or available for sell.

"Better" is subjective. Those coins might have a lower block interval, but they are less secure. While an exchange might require 1-3 confirmations for BTC, they typically require many more for the coins you listed.

Here are the confirmation requirements for Kraken deposits:

Cryptocurrency	Confirmations Required
Algorand (ALGO)	10 confirmations
Bitcoin (BTC)	4 confirmations (depending on fee)
Cardano (ADA)	15 confirmations
Dogecoin (DOGE)	40 confirmations
Litecoin (LTC)	12 confirmations

If you deposited into an address for Bitcoin/BTC and not an altcoin named "Bitcoin whatever", I find rather strange the high number of confirmations asked. (Anything higher than 6 is too high for Bitcoin).
I suggest you double check what you were meant to deposit there, also maybe share the name of that exchange so people around here can cross check. I hope that I'm wrong, but something smells fishy...

My worst experience with exchange is they require three confirmations for a deposit. I also suggest you double check with your exchange if it really does need more than 10. Either the exchange sucks or they're running a terrible service.

Who knows, maybe you run into a bug instead.

Most of the service company only needed 1 confirmation and some needed up 3 confirmation . why you need more than that . even at 1 confirmation you are already able to move your coin anywhere. I have never deposited a service and asked for more than 6 confirmation. and now all on average requirement only 1-3 confirmations for bitcoin.

Thanks to all your support, my BTC was credited after 12 confirmation to FinexBox exchange. I think around 1 and 40 minutes before it shows to my account.

Why would you need 9 confirmations though?

Only 1 is enough in most cases. Most exchanges accept 2 or 3 confirmations. You are still waiting for what? To get the 10th confirmation? What good will it do?

No offense but I don't think you understand how bitcoin works.

I have used an exchange in the past that required 10 confirmations, some exchanges are just supposed not to be used. Even the so called binance with a marketcap of over 90 billion still require only 1 confirmation for deposit, while it require 2 confirmations before someone will be able to withdraw, but some people just still like to make use of such exchanges that require 7 or more confirmation because they are novice to this. 

Actually, I don't have big difficulties in my transactions in Binance exchange. I can make my transactions faster than before now. And of course, the decreasing number of people who make transactions on the network helped this also. I don't know which exchange you use. But I'd advise you to use Binance.

I don't get it, that the person who posted it and needs the enlightenment is failing to at least give a good conversation, next up bitcoin Transaction is slow, a slug and more that's the news that might probably fly out of this into the social media transmission.
I use electrum and I have not like observantly watch my confirmations when I make a transaction reach 9, this is not that it doesn't infact I goes to some high amount, but that my confirmations only requires three confirmations before my transaction is approved.

I don't know if there really exists any business that requires more than 6 confirmation, especially up to 12 confirmation but usually, the number of confirmations that any crypto-related service provider asks is the following: 1, 3 or 6.
In case you need fast confirmation time, you can do the following:
1. Use Lighting Network.
2. Use Alternative currencies

You can only use LN if the service provider supports it and you are able to send btc to SegWit address.
And if it's okay for you to buy altcoins and then convert into BTC, then I suggest you to use Ripple (XRP), it's the fastest in this case and you won't have a need to wait for minutes, it will happen withing seconds.

10 confirmations is a lot by today's standards, even on platforms that want security on the transactions that they are receiving. Most gambling platforms only ever require 2-3 confirmations before making the balance available to the end-user, so this is really weird. Well I guess there really are some outliers that require higher confirmations even if the benefit is non-existent.

Perhaps it's time for you to change exchanges then..

Is this even a legit exchange, it is time you move away from this exchange and find a new one that is trusted by everyone.

I just took a look at the trust score and there are several complaints regarding the site https://www.trustpilot.com/review/finexbox.com

I am still baffled with the decision some would take and why would anyone trade in suspicious exchanges like this with a ton of complaints.

Valid Point
Algorand is still complete in 1 minute.   :D
Algorand is more secure , it is a 3rd generation blockchain tech and all transactions are final after 1 block ~4 seconds.
Bitcoin is old/slow 1st gen blockchain tech, it can't match 3rd generation blockchain tech like Algorand or Cardano.

Cryptocurrency	Confirmations Required
Algorand (ALGO)	10 confirmations	Time = ~45 Seconds
Cardano (ADA)	15 confirmations	Time = ~ 5 Minutes
Litecoin (LTC)	12 confirmations	Time = ~30 Minutes
Dogecoin (DOGE)	40 confirmations	Time = ~40 Minutes
Bitcoin (BTC)	4 confirmations (depending on fee)	Time = ~40 Minutes

When I was a beginner I had these concerns but everything changed after I made several transactions. I am also concerned about the observation that 7788bitcoin made. If I were OP I would use a Top exchange platform that Coinmarketcap or Coingecko review, my preferred platform is Binance for all my coins including FIAT in their Binance P2P.

even my local exchange requires only 3 confirmations. 10 confirmations is too much i guess. so yeah, better not to use that exchange if you have other options. maybe it is his local exchange and needs to convert into his local fiat.
most international crypto exchanges requires only 1 or 2 confirmations. and also, if he got 9 conf, it will not be long to get the next. at least his tx is already confirmed in the network, whereas others are waiting for days for their tx to be confirmed because they happen to use small sat/byte.

Depends on the wallet you've been using. Would you mind on sharing up on what wallet you had sent those coins from and where the wallet it would be passed on?

When it comes to confirmation and being credited on a balance then there are some platforms which does have specific confirmation counts before you can see it on your balance.

When it comes to confirmation then it would also vary on the fee you had set out and specially now the mempool isnt really that to clogged
then processing out transactions wouldnt really be that much of a problem.

I get it, around 10 minutes per confirmation. Each exchange uses a different wallet, confirmation count acceptance and etc., and I have no control over that. But it would nice if every exchange, establishment and individual adhere to one number only so the time of people could be used on other things rather just waithng, and perhaps also demand some rights based on confirmation counts. I am at the mercy of the other end when they decide it is accepted.

Love to used big exchanges with little confirmations but the new coins I am buying are on rare small exchanges and I have to chase them there with an element of risk also. These new coins can not afford to be listed on the prime exchanges because of the high fees.

On the sideline, I missed my lunch 'cause of this waiting. I was hungry and angry :)
 

If you are on a exchange that requires 10 confirmations, you should probably dump that exchange and move on to something else. You definitely don't need to have 10 confirmations to be sure that the coins have arrived.

Tbh, I don't know a shit exchange like that and since it is a bad practice, it will only make them lose customers in the long run.

I have been in the crypto world for a long time and even recently heard about Finexbox, I am confused by the many choices of trusted platforms.
There are still people who use finexbox, with the bad reputation that finexbox has, it is not recommended to use the platform. This is a lesson for
all of us if we want to have no problems when doing crypto transactions, always choose platforms that are popular and trusted.

There is some slowdown in Bitcoin network related with current moving of miners from China, but why would you need to have more than nine fast confirmation when you are not going to 100m race.
If you want faster transaction and lower fees you can consider switching to Lightning Network.

Having a long period of time needed to fulfill the needed confirmations for a certain transactions are normal depending on the amount of transactions that are being processed by the system to do be success but what the strange thing is that why does the OP having a big number of needed confirmation when commonly it just needs 1 confirmation to sometimes 4 based on my experience. If the exchange or site is proven to be a legible one, then you do not have to worry, maybe it is just a real thing that they are taking slow processing due to high volume having them a big number of confirmation.

To require 2 or 3 or 6 confirmations at most might be reasonable, but 10 confirmations for bitcoin... that's really unnecessary and doesn't really add any security beyond 5 or 6 confirmations.

lol you should have told us also about the Set Fee because if you used the lowest transaction fee then expect that it would take long before landing in your wallet.

actually I am doing the same when i am not in a hurry and sometimes i also enjoyed waiting long and excited about when this will comes out lol.



Mind telling us now if the funds already fall to your wallet?

Are you trying to be funny or what? Why do you need to know the fees used when iTrade2021 already said the transaction has been confirmed and was only waiting the balance to reflect on the address he sent to?

Read his other comment.

Algorand is still less secure than Bitcoin.  :D

For what thing there is no solution? For the confirmation time or for the non-sense behavior of some exchanges?

I didn't read the previous replies, but why does the wallet software matter? Confirmations happen on-chain, with no third-parties involved and the fact that an exchange requires 10 confirmations is unrelated with the wallet's custody.

OP, please share us the exchange name.

You should have.

9 confirmation is more than enough. You have to think from the technical part not from which exchange require how many confirmations. In bitcoin, even 1 confirmation is enough because it’s such decentralized that you can't alter the transaction.

Different exchanges have different rules and I don't think that we can blame them for this. For margin traders, such lengthy delays can have an impact on their profit. But for the regular traders, it is manageable. In the past I had used some of the exchanges, which required as many as 60 confirmations for some of the altcoins. But that requirement was for the altcoins and for BTC, the requirement was only 3 confirmations. In the end, each exchange has their own advantages and disadvantages. Users are free to move on to another platform, if they don't like the services.

It is not a turtle,it is just that your exchange that you have opted to deposit in uses a lot of confirmations,strange enough when Binance the nr1 world exchange only needs one for Bitcoin.You should move to a better exchange which requires less confirmations if you don't to wait that much for your next deposits.

I don't think that any crypto exchange or site that uses bitcoin these days are using high numbers of confirmations, at least not these days, with how long and how much fees you have to pay in order to get transactions sent as fast as possible with a decent confirmation it would take several hours for it to do so, i think that most sites have started going for 3 confirmations since the network has gotten a lot of traffic.

That is the average that you are supposed to get so I do not see why you are complaining if you know how bitcoin is supposed to work, when the mempool is full we could see cases of people not getting a confirmation despite waiting for hours and sometimes despite the mempool getting relatively empty it can take more than an hour since a block is not generated during that time, however you are experiencing the average scenario, maybe it is a good idea that you inform yourself about how bitcoin is supposed to work before you complain about it.