iTrade2021 (OP)
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June 25, 2021, 02:31:19 PM |
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I sent bitcoin today but after more than 1.5 hours of waiting, I could only get 9 confirmations. Still waiting! Haaaaaaay.....
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mk4
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June 25, 2021, 02:32:55 PM |
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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.
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iTrade2021 (OP)
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June 25, 2021, 02:40:28 PM |
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I am not sure, my exchange may require 10 or more confirmations. I've just glued to the PC waiting.
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ranochigo
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June 25, 2021, 02:45:01 PM |
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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. I am not sure, my exchange may require 10 or more confirmations. I've just glued to the PC waiting.
Weird. Most exchange really don't require 10 confirmations for Bitcoin, that is an odd number.
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mk4
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June 25, 2021, 02:53:35 PM |
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I am not sure, my exchange may require 10 or more confirmations. I've just glued to the PC waiting.
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.
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tranthidung
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June 25, 2021, 02:59:38 PM Last edit: June 25, 2021, 03:39:26 PM by tranthidung |
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I am not sure, my exchange may require 10 or more confirmations. I've just glued to the PC waiting.
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?0: Payments with 0 confirmations can still be reversed! Wait for at least one. 1: One confirmation is enough for small Bitcoin payments less than $1,000. 3: Enough for payments $1,000 - $10,000. Most exchanges require 3 confirmations for deposits. 6: Enough for large payments between $10,000 - $1,000,000. Six is standard for most transactions to be considered secure. 60: Suggested for large payments greater than $1,000,000. Less is likely fine, but this is to be safe!
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, its github
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Fesatmas
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June 25, 2021, 03:14:12 PM |
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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.
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Charles-Tim
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June 25, 2021, 03:37:32 PM |
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I sent bitcoin today but after more than 1.5 hours of waiting, I could only get 9 confirmations. Still waiting! Haaaaaaay.....
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.
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Charles-Tim
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Sending money between wallets only requires about 6 confirmations outright for the deposit. Exchange only needs 1 confirmation. Your statement is confusing because Bitcoin has been like that for years.
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.
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TangentC
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June 25, 2021, 04:30:10 PM |
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I sent bitcoin today but after more than 1.5 hours of waiting, I could only get 9 confirmations. Still waiting! Haaaaaaay.....
Better Coins for speed are Litecoin : 2½ minute blockspeed Doge : 1 minute Blockspeed Cardano and Algorand : less than 20 seconds
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suzanne5223
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June 25, 2021, 04:35:16 PM |
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Sending money between wallets only requires about 6 confirmations outright for the deposit. Exchange only needs 1 confirmation. Your statement is confusing because Bitcoin has been like that for years.
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. 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.
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odolvlobo
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June 25, 2021, 05:08:15 PM |
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I sent bitcoin today but after more than 1.5 hours of waiting, I could only get 9 confirmations. Still waiting! Haaaaaaay.....
Better Coins for speed are Litecoin : 2½ minute blockspeed Doge : 1 minute Blockspeed Cardano and Algorand : less than 20 seconds "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 |
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NeuroticFish
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June 25, 2021, 05:18:10 PM |
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I am not sure, my exchange may require 10 or more confirmations. I've just glued to the PC waiting.
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...
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joniboini
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June 25, 2021, 05:49:33 PM |
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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.
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Dread Pirate Roberts
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June 25, 2021, 06:14:53 PM |
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I sent bitcoin today but after more than 1.5 hours of waiting, I could only get 9 confirmations. Still waiting! Haaaaaaay.....
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.
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iTrade2021 (OP)
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June 25, 2021, 06:42:36 PM |
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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.
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mindrust
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June 25, 2021, 06:46:15 PM |
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I sent bitcoin today but after more than 1.5 hours of waiting, I could only get 9 confirmations. Still waiting! Haaaaaaay.....
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.
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Charles-Tim
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June 25, 2021, 06:55:43 PM |
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Why would you need 9 confirmations though?
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.
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ILuckyGuyI
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June 25, 2021, 07:30:04 PM |
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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.
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| | | ██░░░░░░░░░░░░░░░░░░░░░░██ ▀█▄░▄▄░░░░░░░░░░░░▄▄░▄█▀ ▄▄███░░░░░░░░░░░░░░███▄▄ ▀░▀▄▀▄░░░░░▄▄░░░░░▄▀▄▀░▀ ▄▄▄▄▄▀▀▄▄▀▀▄▄▄▄▄ █░▄▄▄██████▄▄▄░█ █░▀▀████████▀▀░█ █░█▀▄▄▄▄▄▄▄▄██░█ █░█▀████████░█ █░█░██████░█ ▀▄▀▄███▀▄▀ ▄▀▄▀▄▄▄▄▀▄▀▄ ██▀░░░░░░░░▀██ | | | | | | | . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀ ███▀▄▀█████████████████▀▄▀ █████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀ ███████▀▄▀██████░█▄▄▄▄▄▄▄▄ █████████▀▄▄░███▄▄▄▄▄▄░▄▀ ████████████░███████▀▄▀ ████████████░██▀▄▄▄▄▀ ████████████░▀▄▀ ████████████▄▀ ███████████▀ | ▄▄███████▄▄ ▄████▀▀▀▀▀▀▀████▄ ▄███▀▄▄███████▄▄▀███▄ ▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄ ▄██▀▄██████▀████░███▄▀██▄ ███░█████████▀██░████░███ ███░████░█▄████▀░████░███ ███░████░███▄████████░███ ▀██▄▀███░█████▄█████▀▄██▀ ▀██▄▀█▄▄▄██████▄██▀▄██▀ ▀███▄▀▀███████▀▀▄███▀ ▀████▄▄▄▄▄▄▄████▀ ▀▀███████▀▀ | | OFFICIAL PARTNERSHIP FAZE CLAN SSC NAPOLI | | |
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BIT-BENDER
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June 25, 2021, 07:42:42 PM |
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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.
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. .HUGE. | | | | | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . CASINO & SPORTSBOOK ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | |
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