A confirmation means a block containing your transaction has been added, and each further block on top is another confirmation. More confirmations mean the record is harder to unwind.
Different services require different numbers, and the reason is risk rather than caution for its own sake. A shallow transaction can in principle be displaced if the network briefly disagrees about the latest blocks; a deeply buried one cannot. So the required number scales with what is at stake. When a platform makes you wait, it is pricing the possibility of being wrong.
Binance Academy covers this in more depth: https://www.binance.com/en/academy/glossary/confirmation
Trading crypto from Dubai since 2019.
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