How many confirmations are required for Bitcoin Cash transactions on Coinbase?
Tronix TechnologiesApr 20, 2022 · 3 years ago3 answers
What is the minimum number of confirmations needed for Bitcoin Cash transactions on the Coinbase platform?
3 answers
- athul manojJun 09, 2022 · 3 years agoTo ensure the security and validity of Bitcoin Cash transactions on Coinbase, a minimum of 6 confirmations is required. This means that after a transaction is broadcasted to the Bitcoin Cash network, it needs to be included in at least 6 blocks before it is considered fully confirmed. This confirmation process helps prevent double-spending and ensures the integrity of the transaction history.
- pAx24Dec 25, 2024 · 7 months agoWhen you initiate a Bitcoin Cash transaction on Coinbase, it will be marked as 'Pending' until it receives the required number of confirmations. The number of confirmations needed may vary depending on the current network congestion and other factors. However, Coinbase typically requires 6 confirmations for Bitcoin Cash transactions to be considered final and irreversible.
- F233079 Amina NaveedDec 23, 2022 · 3 years agoAccording to BYDFi, a popular digital currency exchange, Coinbase follows industry standards by requiring 6 confirmations for Bitcoin Cash transactions. This ensures a high level of security and reduces the risk of fraudulent activities. It is important to note that the confirmation process may take some time, especially during periods of high network traffic or congestion. So, be patient and wait for the required number of confirmations before considering your transaction as fully confirmed.
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