Confirmation is basically the verification or final proof of something. This is something that essentially provides evidence that something is true. Think of it like when you receive confirmation that your package journey will arrive on time, or that you learn that something you thought might have happened, has actually happened.

In cryptos such as bitcoin, Bitcoin transactions are confirmed when they are combined in a block with other transactions and added to the blockchain. usually occurs within a few seconds and is confirmed within the next 10 minutes. and every new block added thereafter means a greater guarantee of irreversible transactions. For transactions of very large value, six confirmations are usually required, which can take an hour. For multimillion dollar transactions, dozens of confirmations may be required. However, to buy a bargain or send someone a small amount of coins, it is often not necessary.

As long as the transaction has not been confirmed, a transaction that is considered authentic can still be cancelled. Dishonest users can try to cheat at these times. This process can be accelerated by adding a miner fee when sending Bitcoin. The more confirmations a transaction gets, the smaller the risk of transaction cancellation. This process is carried out by severe miners scattered all over the world.

Each trader, as well as the exchange, has to decide how many confirmations they need for each coin. There is no set amount in this case, and this amount that should be 100% safe increases over time.

Keep in mind that unconfirmed transactions are transactions waiting to be added to the blockchain by miners. Each block is then added after that initial block and results in one confirmation. This means that if one confirmation took 10 minutes, six could take an hour, and so on.