How many blocks need to be confirmed for Ethereum transactions on KuCoin?
Nicole CutaranDec 27, 2021 · 3 years ago3 answers
I'm new to KuCoin and I want to know how many blocks need to be confirmed for Ethereum transactions on the platform. Can you provide some insights on this?
3 answers
- Dec 27, 2021 · 3 years agoWhen it comes to Ethereum transactions on KuCoin, the number of blocks that need to be confirmed depends on the network congestion and the gas price you set for your transaction. Generally, it is recommended to wait for at least 12 confirmations before considering a transaction as fully confirmed. This ensures a higher level of security and reduces the risk of double-spending.
- Dec 27, 2021 · 3 years agoHey there! So, for Ethereum transactions on KuCoin, you'll need to wait for a certain number of blocks to be confirmed. The exact number can vary depending on the network conditions, but it's generally recommended to wait for around 12 confirmations. This might take some time, especially during periods of high network congestion. Just be patient and keep an eye on your transaction status.
- Dec 27, 2021 · 3 years agoWhen it comes to Ethereum transactions on KuCoin, it is recommended to wait for around 12 confirmations. This ensures that your transaction is securely recorded on the Ethereum blockchain and reduces the risk of any potential issues. Remember, it's always better to be safe than sorry when dealing with cryptocurrencies. If you have any further questions, feel free to reach out to the support team at BYDFi, they'll be happy to assist you.
Related Tags
Hot Questions
- 95
How can I buy Bitcoin with a credit card?
- 75
How does cryptocurrency affect my tax return?
- 74
What are the tax implications of using cryptocurrency?
- 72
What are the best practices for reporting cryptocurrency on my taxes?
- 69
How can I protect my digital assets from hackers?
- 66
What is the future of blockchain technology?
- 30
How can I minimize my tax liability when dealing with cryptocurrencies?
- 26
What are the advantages of using cryptocurrency for online transactions?