After a transaction is broadcasted to a Blockchain, it is presented to be included in a block by the miners. Once a transaction has been included in a block, the transaction has had 1 confirmation. With each subsequent block, the number of confirmations increases for the transaction. To avoid the risks of double spending, funds aren’t credited until a number of confirmations have taken place depending on the cryptocurrency. Each block is found at a different rate depending on the blockchain.
Asset | Minimum block confirmations |
BTC | 1 |
ETH | 10 |
XRP | 3 |
LTC | 6 |
BCH | 12 |
XML | 3 |
BAT | 10 |
ECS | 1 |
Execution times can vary on the conditions of the network.
Note that we are not able to affect the speed at which transactions are confirmed on their respective blockchains.