What is the confirmation process for Bitcoin Cash transactions on Coinbase?

3 answers

• Lunde IveyFeb 29, 2024 · a year ago
  When you initiate a Bitcoin Cash transaction on Coinbase, it goes through a confirmation process to ensure its validity and security. This process involves several steps: 1. Initiation: You start the transaction by submitting it on the Coinbase platform. 2. Broadcast: Coinbase broadcasts the transaction to the Bitcoin Cash network, making it visible to all nodes. 3. Inclusion in the mempool: The transaction is added to the mempool, which is a pool of unconfirmed transactions waiting to be included in a block. 4. Confirmation: Miners pick up the transaction from the mempool and include it in a block. The more confirmations a transaction has, the more secure it is considered. 5. Block confirmation: The block containing your transaction is added to the blockchain, making it permanent and irreversible. It's important to note that the number of confirmations required for a transaction to be considered final may vary depending on the recipient's policy or the specific circumstances of the transaction. Generally, 6 confirmations are considered sufficient for most transactions to be considered secure and irreversible.
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• Har Aziz SinghOct 09, 2022 · 3 years ago
  The confirmation process for Bitcoin Cash transactions on Coinbase is a crucial step in ensuring the security and validity of your transactions. It involves multiple stages, including initiation, broadcast, inclusion in the mempool, confirmation by miners, and block confirmation. Each step plays a vital role in verifying the transaction and making it permanent on the blockchain. The number of confirmations required may vary, but generally, 6 confirmations are considered sufficient for most transactions. It's important to be patient during the confirmation process, as it may take some time depending on network congestion and miner activity.
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• Crockett WorkmanJul 12, 2023 · 2 years ago
  At BYDFi, we understand the importance of transaction confirmation for Bitcoin Cash on Coinbase. The process involves several steps, starting from the initiation of the transaction on Coinbase to its inclusion in the blockchain through multiple confirmations. This ensures the security and immutability of the transaction. The number of confirmations required may vary, but 6 confirmations are generally considered sufficient for most transactions. It's important to note that the confirmation process may take some time, especially during periods of high network congestion. Rest assured, Coinbase takes the necessary measures to ensure the smooth and secure confirmation of your Bitcoin Cash transactions.
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