What do blockchain confirmations mean?

A confirmation means that a transaction has been successfully processed by the blockchain network and is considered increasingly secure as more blocks are added after it. A transaction receives its first confirmation when it is included in a block, and each subsequent block provides an additional confirmation.

For smaller transactions, even a single confirmation is generally considered sufficient. However, for larger transactions (for example, amounts equivalent to $1,000 or more), it is recommended to wait for 6 or more confirmations, as each additional confirmation significantly reduces the likelihood of the transaction being reversed.

The confirmation time depends on the specific blockchain network and current network activity, but transactions usually complete within approximately 10- 20 minutes.

You can track the progress of your transaction in the blockchain by following the link in the app under View in explorer button.