New to Bitcoin, question about confirmations

[GeorgeJohn]

If I send some BTC from one wallet to another, how many confirmations does it usually take before it’s fully done?

Actually bitcoin transactions process took 6 step processes before the transaction will be processed..sometimes it's depends on the wallet, some confirmation process took longer than 6 steps process

Some took longer before it will get completed with the transactions confirmation, such as 10 transactions confirmation steps, that is why i said it varies due to the wallet and secondly, if theirs a congestion in transaction.

[Patikno]

Does it depend on the network, or is it more about the wallet/exchange?
Thanks a lot for any help!

Each exchange has different rules regarding confirmations for received Bitcoin.

On average, each exchange will consider a Bitcoin transaction fully received when it has received two, or more network confirmations. For example, Binance will consider Bitcoin fully done when two confirmations have been completed, and you can use your deposited Bitcoin for various purposes on that exchange. Meanwhile, Coinbase requires three block confirmations to be considered final (based on what I have read). So, it all depends on the CEX you are using. You haven't mentioned which wallet you are using, whether it is a (from/to) CEX wallet or  (from/to) your personal wallet (non-custodial or self-custody). May I know which exchange you are using? This way, we can discuss your concerns further and get answers to all your questions.

[nakamura12]

It only takes one confirmation to some platforms like a wallet but for exchange platforms like binance for example takes 2-3 confirmation before you can do p2p feature in their platform and only 1 confirmation needed before the balance shows on the account. Confirmation is how a transaction is confirmed that it has been added on the block and proves that it has been sent to another address either a wallet or exchange. As explained above, different platforms have different times of confirmation needed before the balance shows on the account.

[dzungmobile]

Each exchange has different rules regarding confirmations for received Bitcoin.

On average, each exchange will consider a Bitcoin transaction fully received when it has received two, or more network confirmations. For example, Binance will consider Bitcoin fully done when two confirmations have been completed, and you can use your deposited Bitcoin for various purposes on that exchange. Meanwhile, Coinbase requires three block confirmations to be considered final (based on what I have read). So, it all depends on the CEX you are using.

Coinbase changed from 3 confirmations to 2 confirmations.
https://www.coinbase.com/blog/announcing-new-confirmation-requirements

The same requirement with Binance.
https://www.binance.com/en/support/faq/detail/115003736451

For example, the minimum amount of network confirmation for a BTC transaction is 1. But for safety purposes, the Binance system requires at least 2 network confirmations before your BTC deposit can be unlocked on Binance.

Other exchanges have different terms like 1 confirmation to 3 or 4 confirmations.

[sheenshane]

If I send some BTC from one wallet to another, how many confirmations does it usually take before it’s fully done?
Does it depend on the network, or is it more about the wallet/exchange?
Thanks a lot for any help!

Remember that non-custodial wallets aren't the same as a custodial wallet or exchange.
Non-custodial wallets are based on the Bitcoin block or the network congestion, while exchange wallets are based on confirmation. 
AFAIK, exchanges set confirmation thresholds based on the value of deposits for their own safety against possible double-spending transactions. 
So, higher-value deposits commonly require more confirmations.

But if you are based on the network, it should be 1 confirmation is equal to 10 minutes on average (one Bitcoin block).

[suzanne5223]

Hey everyone,
I just started learning about Bitcoin and crypto.
I’m a bit confused about confirmations.
If I send some BTC from one wallet to another, how many confirmations does it usually take before it’s fully done?
Does it depend on the network, or is it more about the wallet/exchange?
Thanks a lot for any help!

Despite the 10minutes average block interval, the transaction confirmation time of your Bitcoin transaction is determined by the transaction fees you use and the level of the network congestion (which is also known as the mempool condition). However, if you use a CEX wallet, you'll need to wait for a minimum of 2-3 confirmations before you receive the wallet, and this concept was created by CEX to prevent double spending attacks. That's to prevent crypto theft reverse deposits.
Use the search slot of this forum so you can understand what double spending attacks mean.

Having said that, if the transaction was sent from someone you trust and you're using self custodial wallet, a single transaction confirmation is enough.

[Oshio-man]

It only takes one confirmation to some platforms like a wallet but for exchange platforms like binance for example takes 2-3 confirmation before you can do p2p feature in their platform and only 1 confirmation needed before the balance shows on the account. Confirmation is how a transaction is confirmed that it has been added on the block and proves that it has been sent to another address either a wallet or exchange. As explained above, different platforms have different times of confirmation needed before the balance shows on the account.

Well, it depends the type of exchange you are using to trade or buy bitcoin from the market, this is the reason many trades and investors prefer to use p2p to carry out their transactions because they know their confirmation will appear twice as confirmation, which is the sign you will experience from your transaction before your mind will be at peace at the moment, that is what make decentralized asset difference from other centralized assets, and if you don't have decentralized investment you can learn it easily to improve because there are many newbies that use this forum to achieve the knowledge that is making them profitable.

[Bright0515]

Hey everyone,
I just started learning about Bitcoin and crypto.
I’m a bit confused about confirmations.
If I send some BTC from one wallet to another, how many confirmations does it usually take before it’s fully done?
Does it depend on the network, or is it more about the wallet/exchange?
Thanks a lot for any help!

The network itself matters here, if you are using the Segwit network I'm sure you are good to go with one confirmation. But network like Etherum Erc20 (ETH), you need multiple block confirmations.
In the picture below watch closely to see how many block confirmations it will take for your BTC to arrive in your wallet or exchange. Although sometimes it depends on the amount you are sending with the fee you are using to send. If you are using a very low fee to send your Bitcoin miners can will not process your transaction on time, untill you increase the fee or transaction fee has drop before you will be attended to.
Segwit Network
One confirmation

Ethereum Erc20 (ETH)
6 confirmations.

[notocactus]

The network itself matters here, if you are using the Segwit network I'm sure you are good to go with one confirmation. But network like Etherum Erc20 (ETH), you need multiple block confirmations.
In the picture below watch closely to see how many block confirmations it will take for your BTC to arrive in your wallet or exchange. Although sometimes it depends on the amount you are sending with the fee you are using to send. If you are using a very low fee to send your Bitcoin miners can will not process your transaction on time, untill you increase the fee or transaction fee has drop before you will be attended to.
Segwit Network
One confirmation

Ethereum Erc20 (ETH)
6 confirmations.

You are comparing Bitcoin blockchain and Ethereum blockchain. There is nothing technically as Segwit network at all if you understand Bitcoin blockchain well enough.

Segwit is only one of Bitcoin address types.

• Legacy (P2PKH): starts with a 1 as 1xxxxx
• Nested SegWit (P2SH): starts with a 3 as 3xxxx
• Native SegWit (P2WPKH): starts with bc1q as bc1qxxxx
• Taproot (P2TR): starts with bc1p as bc1pxxxxx

Blockchains have different security levels ^[1] and risk of 51% attacks as well as cosst of attacks so centralized exchanges take these things into account for their policies on how many confirmations are enough as min requirements for user deposits before crediting money to user accounts and allowing users to trade, then withdraw the fund.

Usually, confirmation requirements for trading is smaller than for withdrawal.

[1] https://howmanyconfs.com/

[joniboini]

-snip-

What website is this? Kinda confusing seeing 1 block confirmation/s with no details at all. "Segwit" at 1 mins est arrival is also quite odd. Which wallets ask for a minimum deposit? I feel like exchanges are more likely to do that. I've never heard wallets asking for a minimum deposit, unless we're talking about some scam wallets.