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Modified on Tue, 30 May 2023 at 12:57 PM

All Cryptocurrency deposits need to be confirmed before they can be credited to your account.

What are confirmations?

Every transaction that is broadcast on the network needs to be included by miners on a block. Once the transaction is included in a block, it gets one confirmation. With every subsequent block, the number of confirmations increase.

Why are confirmations required?

In addition to the security aspect, confirmations are required to ensure there is no double spending which means the amount is not credited to your account until a certain number of confirmations have taken place. Confirmations ensure the transaction is permanent and irreversible.

How long do confirmations take?  

Each block is found at a different rate depending on the blockchain. For example, on the Bitcoin blockchain, a block is mined on average every 10 minutes.

For Minimum deposit amounts, click here.

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