How many confirmations does it take to verify the deposit?

[TheGrapist]

1 confirmation should more than suffice for small amounts

Why do exchange go for 3-4 confirmation even on small amt?

[1715152924]

1715152924

[1715152924]

1715152924

[1715152924]

1715152924

[1715152924]

1715152924

[1715152924]

1715152924

[ranochigo]

1 confirmation should more than suffice for small amounts

Why do exchange go for 3-4 confirmation even on small amt?

Exchanges probably wouldn't bother making a script that checks for amount and see how much confirmations does it need. It is much more convient to use a flat amount of confirmations.

[Gaugh]

i think it also depends on the amount of the transaction. for example, with a transaction under 5 btc, then 3 confirmations is good. if the transaction is over 1000 btc then 6 confirmations would be safe to verify the deposit. if the transaction is < 1 btc then i'd say 1 confirmation would be enough.

I think it would be best to wait for 3 confirmations even for transactions <1 btc. For transactions > 4 btc then 6 confirmations will be enough. That's just what I'd do.

[sallymeeh27]

I was taked payment on btc . i want konw How many confirmations does it take to verify the deposit / not refund client ?
thanks

With 1 confirmation, there is 50/50 chance of a double spend is possible.
Every confirmation reduces that chance significantly

It is really good to read about this very useful information and comment from all other people putting comment on this thread. For some kind of inquiry this is really very helpful for me to be able to understand everything here...