3 Things to Know about Bitcoin Confirmations [2024] (2024)

Jordan Tuwiner

Updated October 27, 2023

Key Takeaways

In Bitcoin, a confirmation means a transaction has been added to a block.
Confirmations happen approximately every 10 minutes.
Once added to a block, a transaction is considered settled.

Confirmations Explained

Roughly every ten minutes, a new block is created and added to the blockchain through the mining process.

This block verifies and records any new transactions. The transactions are then said to have been confirmed by the Bitcoin network.

Table Of Contents

For example, if Sean buys bitcoin and then sends one bitcoin to John, this transaction will remain “unconfirmed” until the next block is created.

Once that block is created and the new transaction is verified and included in that block, the transaction will have one confirmation. Approximately every ten minutes thereafter, a new block is created and the transaction is reconfirmed by the Bitcoin network.

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A transaction that has been included in thousands of blocks (and therefore confirmed thousands of times)

While some services are instant or only require one confirmation, many Bitcoin companies will require more as each confirmation greatly decreases the likelihood of a payment being reversed. It is common for six confirmations to be required which takes about an hour.

Knowing how many confirmations are required by the service provider can give you a good idea of how long it will take for your transaction to be completed.

#️⃣ How many Bitcoin Confirmations are Enough?

Payments with 0 confirmations can still be reversed! Wait for at least one.

One confirmation is enough for small Bitcoin payments less than $1,000.

Enough for payments $1,000 - $10,000. Most exchanges require 3 confirmations for deposits.

☑️ How to Check Bitcoin Confirmations

Once you make a transaction, your wallet should give you an option to view the transaction on a block explorer or give you the transaction ID.

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blockstream.info is one of the most useful block explorers on the internet.

A transaction ID looks like this:

7a43510802e113b7059851ef0a8a5c3625db37541861dd982f56253b2d5c4ff9

To check the number of blockchain confirmations for a transaction, paste the ID into a block explorer like blockchain.info:

Press enter and then you’ll see more details about your transaction:

⚡ Try a New Wallet

If your wallet is sending transactions that get stuck, you may be using an old Bitcoin wallet that doesn’t calculate fees properly. Try one of these:

COMPARISON

Ledger Nano X

Good for storing large amounts of crypto
Supports 1,000+ coins
Can be used with iOS & Android

Learn More

Electrum

Desktop wallet that works for Mac, Windows and Linux
Simple to use, but also offers power features for experienced users
Can connect to hardware wallets

Learn More

🕝 What is the Average Bitcoin Confirmation Time?

The chart below shows the average amount of time it takes miners to find a block - one block found means one confirmation.

While the Bitcoin blockchain targets 10-minute blocks, sometimes they are faster and sometimes they are slower.

This is especially true when a major change in the network hash rate occurs, as it did in June 2021, when all of China’s miners shut down.

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By the first of July 2021 the total hash rate fell by more than 55%. The hash rate has since recovered to above the previous peak in May of 2021.

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So, we see that issues can arise that alter confirmation times, but eventually they recover back to the 10-minute block time average.

❓FAQ

Is your Bitcoin Transaction Unconfirmed for Hours?

If your transaction is unconfirmed for hours, just wait. If more than 72 hours pass and your transaction still isn't confirmed, you can re-send the transaction.

We recommend using Electrum Bitcoin wallet with a hardware wallet like the Ledger Nano X since it allows you to raise the fee on transactions if they get stuck.

How Many Confirmations Does Coinbase Need?

Coinbase requires three confirmations before a transaction will show up and be spendable in your Coinbase account.

Is it possible for a transaction to confirm in less than 10 minutes?

Yes! There are several ways this could happen.

As mentioned above, block times are targeted to be 10 minutes. However, sometimes they are more and sometimes they are less.

Difficulty Improperly Adjusted

If the difficulty is set too low, then block times will tend to be shorter than 10 minutes. Difficulty is adjusted every 2 weeks, but the way it is adjusted is based on the previous two weeks average block times. This generally does a good job of ensuring 10 minute blocks, but it is not perfect.

Hashing Power Flood

If a lot of mining hashing power is suddenly added to the network quickly, then this hashing power wont be accounted for until the next difficulty adjustment, resulting in faster block times on average.

Miner Luck

Sometimes blocks are found in minutes simply because of luck. The truth is, mining bitcoin is about guessing the answers to complex math problems. Guessing the answer should, statistically speaking, take about 10 minutes. However, sometimes you get lucky and find it much sooner.

Your Luck

Assuming 10 minute block timers are perfectly calibrated, and none of the above occurs, you could still get your first confirmation in less than 10 minutes. Let's say a block is found and five minutes later you broadcast a transaction with a higher fee than anyone else on the network. If that were the case, you would get your first confirmation in 5 minutes.

How can I speed up confirmation times?

There is no way for you to speed up the rate at which blocks are added to the blockchain. However, you can speed up the likelihood your transaction is included in the next block by increasing the fees you pay for the transaction, which makes it of higher interest to miners.

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A high fee as of May 26th, 2020.

You can find what is considered a high fee at any given time by looking at our fee calculator. Be sure to calculate taxes for free properly.

Does Segwit decrease confirmation times?

Technically, no. SegWit does not change the amount of time needed for blocks to confirm. However, transactions using SegWit are cheaper because they are smaller. That means the fees you would pay for an old bitcoin transaction sending the same amount of coins is higher than it would be with Segwit. You can, therefore, put the money you save into paying more fees to increase the chance the transaction ends up in the next block.

However, no amount of fees can get your transaction through faster than the next block. And the time it takes for the next block to be found varies depending on current hashing power, difficulty and new investors coming in.

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Segwit won't decrease confirmation times, but it will save money on fees.

My transaction is stuck. How do I get it onto a block?

There are a few ways to fix a stuck transaction. One way is to do a replace by fee (RBF) transaction. The other is to do a child-pays-for-parent (CPFP) transaction. You can also use a bitcoin accelerator service, but accelerators are very expensive (and also not based in the US, UK or Canada. Better, cheaper options are available.

If you own a Ledger hardware wallet and you are using Ledger Live (supports altcoins too), you can prepare your transaction so that replace by fee is possible. Just tick the switch in the advanced options on the second screen (amount) when you make your transaction:

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Coin Control in Ledger Live

Article Sources

BuyBitcoinWorldWide writers are subject-matter experts and base their articles on firsthand information, like interviews with experts, white papers or original studies and experience. We also use trusted research and studies from other well-known sources. You can learn more about our editorial guidelines.

BuyBitcoinWorldWide.com - Bitcoin Uptime Tracker, https://buybitcoinworldwide.com/bitcoin-uptime/
Blockstream - Block Explorer, https://blockstream.info/
Y-charts - Total Bitcoin Network Hash rate, https://ycharts.com/indicators/bitcoin_network_hash_rate

About the Author

Jordan Tuwiner

Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. He studied computer science at Towson University and holds an online degree in trading & cryptocurrency. Jordan has been writing about Bitcoin since 2015. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets.

FAQs

3 Things to Know about Bitcoin Confirmations [2024]? ›

Each block is mined at a different rate, depending on the blockchain. For example, on the Bitcoin blockchain, a block is mined on average every 10 minutes, and Nexo only credits Bitcoin deposits to a client's account after a minimum of 3 confirmations, which takes approximately 30 minutes.

Read On ›

How long for 3 confirmations in Bitcoin? ›

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What does 3 confirmations mean? ›

A confirmation is considered to have occurred once a miner has verified a block of transactions and added the new block to the blockchain. On average, cryptocurrency exchanges require a minimum of three confirmations until a transaction is accepted.

What are confirmations in Bitcoin? ›

A confirmation represents the acceptance of a new block (containing several transactions) by the blockchain network. Once a miner has successfully added a new block to the blockchain, one 'confirmation' has occurred. This means that the transactions within the block are verified and are now part of the blockchain.

See Details ›

How do I know how many Bitcoin confirmations I have? ›

Bitcoin's blockchain can be accessed at https://blockchain.info/. Here, you'll be able to enter your Bitcoin TxID, or your exchange or wallet address, to track your transactions. You will see a summary of information about the transaction, including the number of confirmations it has.

Find Out More ›

Is 1 confirmation enough for Bitcoin? ›

1 Confirmation: One confirmation is typically sufficient for small Bitcoin payments with a value of less than $1,000. While a single confirmation is not entirely secure, it provides a reasonable level of assurance for low-value transactions.

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How long can a Bitcoin transaction stay unconfirmed? ›

If you set your Bitcoin Transaction Fee too low it can remain unconfirmed for days or even months. If the network is continuously busy – especially during bull markets – and the fee you set is lower than everyone else then it won't get confirmed until things cool down, but this can take a long time!

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How long does it take to confirm a Bitcoin transaction? ›

How Long Does Bitcoin Take to Send? On the Bitcoin network, the average confirmation time for a BTC payment is about 10 minutes. However, transaction times can vary wildly. This is because it is affected by factors such as the total network activity, hashrate and transaction fees.

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What are examples of confirmations? ›

Dear [customer's name], Thank you for placing an order with [your company name]. We are pleased to confirm the receipt of your order # [order number], dated [order date]. Your order is now being processed and we will ensure its prompt dispatch.

Why is my BTC confirmed but not received? ›

If your Bitcoin transaction shows as received and confirmed but not sent, it is possible that there may be a delay or issue with the recipient's wallet or the network itself. First, it is important to confirm that you have entered the correct recipient address for the transaction.

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How to look up a Bitcoin transaction? ›

From the Bitcoin.com Wallet app's home screen, tap on the "Funds" icon in the bottom toolbar. Select the blockchain of the transaction you are looking for. For example, if your transaction was on the Bitcoin blockchain, select Bitcoin. Choose the wallet of the transaction you are looking for (eg.

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Why do Bitcoin confirmations take so long? ›

Why do some bitcoin transaction confirmations take so long? Each block can only contain a certain number of transactions, and that number is determined largely by the space available in each block, or the 'block size,' which is 1MB.

See Details ›

How does Bitcoin check balance? ›

The Bitcoin network keeps track of balances in each address by using a public ledger called the blockchain. The blockchain is a shared, distributed ledger that records all transactions that take place on the Bitcoin network.

Get More Info Here ›

What is the longest confirmation time for Bitcoin? ›

This can take anywhere from five minutes to an hour, depending on the Bitcoin network. However, some Bitcoin transactions can take longer to be confirmed by miners. If you believe your transaction is taking longer than usual to be confirmed it could be due to mempool congestion and fees.

What is the confirmation process of blockchain? ›

When a transaction is initiated, it is broadcasted to the network, where it awaits confirmation. During this process, network participants, known as miners in Proof-of-Work-based cryptocurrencies like CKB, validate the transaction's details and verify its authenticity.

What is 6 network confirmations? ›

A confirmation indicates that a Bitcoin transaction has been added to a block on the blockchain. Once this occurs, every subsequent block adds another confirmation to that transaction, making it increasingly immutable. Typically, a transaction is considered to be fully settled after 6 confirmations.

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How long does 1 BTC confirmation take? ›

How Long Does Bitcoin Take to Send? On the Bitcoin network, the average confirmation time for a BTC payment is about 10 minutes. However, transaction times can vary wildly. This is because it is affected by factors such as the total network activity, hashrate and transaction fees.

Can a Bitcoin transaction take 3 days? ›

You can complete transactions from anywhere in the world using your mobile devices, including from the comfort of your home. Time is another major benefit of using Bitcoin's network. The traditional banking model might take anywhere between one to five days before funds arrive in the recipient's account.

Learn More ›

How long does 2 confirmations take Bitcoin? ›

Each Bitcoin transaction needs to be network-approved before completion. The standard set by the Bitcoin community is six transfer confirmations before it is complete. Each confirmation can be expected to take about 10 minutes, thus getting an average of one transaction per hour.

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How long does 2 blockchain confirmations take? ›

On the Bitcoin network, a blockchain confirmation takes place every 10 minutes, so it can process six confirmations an hour. In the Ethereum network, a set of twelve blocks are confirmed every three minutes.

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