What exactly are “6 confirmations” waiting for?
First, what they are: Exchanges generally set the number of confirmations required for a deposit based on the network. The funds are credited to your account once that requirement is met; until then, they’re usually shown as pending.
Why it works this way: Several confirmations are required because a blockchain can sometimes reorganize. If two miners produce blocks at almost the same time, only one of those blocks will ultimately be kept.
Market update: $BTC is currently at 80747.01, down 1.13% over the past 24 hours.
It’s best to only invest money you can afford to lose.
#BTC
First, what they are: Exchanges generally set the number of confirmations required for a deposit based on the network. The funds are credited to your account once that requirement is met; until then, they’re usually shown as pending.
Why it works this way: Several confirmations are required because a blockchain can sometimes reorganize. If two miners produce blocks at almost the same time, only one of those blocks will ultimately be kept.
Market update: $BTC is currently at 80747.01, down 1.13% over the past 24 hours.
It’s best to only invest money you can afford to lose.
#BTC