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confirmed on the blockchain pepe unchain Bnb Eth XRP aave Bitcoin crypto futures

What is a blockchain confirmation?

A blockchain confirmation is a representation of a new block being accepted by a blockchain network. When any transaction is first broadcast to the blockchain it starts with zero confirmations. This number then increases as the information is added to the first block, confirmed, given a permanent place, and followed by more blocks.

What is a cryptocurrency transaction blockchain confirmation?

A confirmation represents the acceptance of a new block (containing several transactions) by the blockchain network. A transaction with many confirmations means more blocks have passed since the block containing that transaction was accepted, meaning the transaction is more secure.

How many blockchain confirmations do you need for a transaction?

Tthe larger the transaction, the more blockchain confirmations are required. This is because the more confirmations there are, the harder the transaction is to reverse. For a transaction of $1 million, it’s not uncommon to wait for at least 60 confirmations.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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