What is the process to verify the confirmations for a Bitcoin transaction?

3 answers

• Dec 31, 2021 · 3 years ago
  Sure! When you make a Bitcoin transaction, it gets broadcasted to the network. Miners then include your transaction in a block, which is added to the blockchain. To verify the confirmations, you can check the block explorer or your wallet. The number of confirmations indicates the number of blocks that have been added after your transaction. Generally, 6 confirmations are considered secure, but some exchanges and services may require more.
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• Dec 31, 2021 · 3 years ago
  Verifying Bitcoin transaction confirmations is essential to ensure the transaction is valid and irreversible. You can use a block explorer like Blockchain.com or Blockchair.com to search for your transaction using the transaction ID or wallet address. The block explorer will show you the number of confirmations your transaction has received. The more confirmations, the more secure the transaction is. It's important to wait for a sufficient number of confirmations before considering a transaction as final.
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• Dec 31, 2021 · 3 years ago
  At BYDFi, we recommend waiting for at least 6 confirmations before considering a Bitcoin transaction as fully verified. This ensures that the transaction is included in multiple blocks and reduces the risk of a double-spending attack. However, it's important to note that the number of required confirmations may vary depending on the exchange or service you're using. Some exchanges may require more confirmations for added security. Always check the specific requirements of the platform you're using to ensure your transactions are properly verified.
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