What does it mean to “confirm” a transaction?
Usually, upon the receipt of cryptocurrencies (coins), the new owner cannot dispose of them immediately. Once a transaction is made, it is sent to the network (Blockchain) for execution and must be included in a block in order to become legitimate.
The process of including a transaction in the found block is called a transaction confirmation.
Inclusion in 1 block = 1 confirmation, when there are more than one such confirmation (for BTC), the transaction is considered confirmed. This feature was introduced to protect against repeated spending of the same coins.
The number of confirmations in the Bitcoin (BTC) network on the Blockchain.com block explorer looks like this:
The classic Bitcoin client will display the transaction as “unconfirmed” until there are 6 confirmations (6 blocks found). We consider payment accepted upon the receipt of the 2nd confirmation transaction.
In the case of a transaction that is still waiting to be included in a block, its status is unconfirmed and it is displayed on the block explorer as follows:
On our service, 24 hours (1 day) are allotted for receiving BTC. If the transaction receives the 2nd confirmation within 24 hours, the exchange will be completed automatically by the systеm.
If it takes longer to confirm the transaction (sometimes it can take several days), write to our support when the confirmation is received, and we will complete the exchange manually.
