What exactly are “6 confirmations” waiting for?
First, what they are: Exchanges generally set the number of confirmations required for deposits on each network. Your deposit is credited to your account once that requirement is met; before then, it will usually show as processing.
Why this happens: Different blockchains have different block times and consensus mechanisms, so there’s no one-size-fits-all answer to how many confirmations are considered safe.
Related coin: $BTC Current price: 70183.9 (24h -4.95%).
Don’t rush into anything just because everyone around you is doing it.
#BTC
First, what they are: Exchanges generally set the number of confirmations required for deposits on each network. Your deposit is credited to your account once that requirement is met; before then, it will usually show as processing.
Why this happens: Different blockchains have different block times and consensus mechanisms, so there’s no one-size-fits-all answer to how many confirmations are considered safe.
Related coin: $BTC Current price: 70183.9 (24h -4.95%).
Don’t rush into anything just because everyone around you is doing it.
#BTC