The confirmations when depositing digital currencies The confirmations when depositing digital currencies

The confirmations when depositing digital currencies

In order to credit a digital currency deposit to your Bitvavo account, the deposit needs a minimum number of 'confirmations' on its blockchain.

What are confirmations?

In digital currency, confirmations are a measure of how many blocks have passed since a transaction was added to the blockchain. Once a transaction has been included in a mined block, the transaction has received 1 confirmation. With each subsequent block, the number of confirmations increases for the transaction. The more confirmations, the more secure the transaction.

Why are there confirmation requirements? 

To avoid the risks of double spending, funds will not be credited until a certain number of confirmations have taken place. An overview of the required confirmations for each digital currency can be found in the list below.

How long do confirmations take?

How long confirmations take depends on the digital curreny, as each digital currency has a different timeframe for how quickly blocks are mined.

Example

On the Bitcoin blockchain, a block is mined on average every 10 minutes. Bitvavo credits Bitcoin deposits to an account after 3 confirmations, which takes around 30 minutes.

Please note: sometimes it can take Bitcoin miners longer to mine a single block. This process is outside of Bitvavo's control.

An overview of the number of confirmations per digital currency

Please note: Some of our new assets are in ´trading mode only´. Deposits and withdrawals will be enabled at a later date. 

Name Symbol Confirmations
1inch 1INCH 30
Aave AAVE 30
Cardano ADA 15
AdEx Network ADX 30
Aeternity AE 60
Aion AION 100
Akropolis AKRO 30
Algorand ALGO 0
MyNeighborAlice ALICE 30
Alpha Finance Lab ALPHA 30
Ankr ANKR 30
Aragon ANT 30
Arweave AR 0
Ark ARK 51
Automata Network ATA 30
Audius AUDIO 30
Avalanche AVAX 0
Axie Infinity AXS 30
Balancer BAL 30
Band Protocol BAND 30
Basic Attention Token BAT 30
Bitcoin Cash BCH 15
Binance Coin BNB 0
Bancor BNT 30
BarnBridge BOND 30
Bitcoin SV BSV 12
Bitcoin BTC 3
PancakeSwap CAKE 0
Celer Network CELR 30
Chromia CHR 30
Chiliz CHZ 30
Clover Finance CLV 30
CyberMiles CMT 10
Compound COMP 30
COTI COTI 30
Curve DAO Token CRV 30
Cartesi CTSI 30
Civic CVC 30
Dai DAI 30
Dash DASH 0
Streamr DATA 30
Decred DCR 6
Dent DENT 30
DigiByte DGB 20
DIA DIA 30
district0x DNT 30
Dogecoin DOGE 0
Polkadot DOT 0
Aelf ELF 30
Enjin ENJ 30
EOS EOS 400
Ethereum Classic ETC 14400
Ethereum ETH 30
Fetch.ai FET 30
Filecoin FIL 0
FORTH Governance Token FORTH 30
Fantom FTM 30
FTX Token FTT 30
Gas GAS 5
Aavegotchi GHST 30
Golem GLM 30
Gnosis GNO 30
Golem GNT 30
The Graph GRT 30
Helium HNT 0
Holo HOT 30
ICON ICX 3
Injective Protocol INJ 30
IOST IOST 100
JUST JST 0
Keep Network KEEP 30
Komodo KMD 60
Kyber Network KNC 30
Kusama KSM 0
Linear LINA 30
Chainlink LINK 30
Litentry LIT 30
Loom Network LOOM 30
Livepeer LPT 30
Loopring LRC 30
Lisk LSK 300
Litecoin LTC 10
LTO Network LTO 30
Decentraland MANA 30
Mask Network MASK 30
Polygon MATIC 30
IOTA MIOTA 1
Mirror Protocol MIR 30
Maker MKR 30
Enzyme MLN 30
Metal MTL 30
Nano NANO 1
Nebulas NAS 50
NEO NEO 5
NKN NKN 30
Numeraire NMR 30
Pundi X NPXS 30
NuCypher NU 30
NULS NULS 40
Ocean Protocol OCEAN 30
Origin Protocol OGN 30
OmiseGO OMG 30
Ontology Gas ONG 10
Ontology ONT 10
Orchid OXT 30
Perpetual Protocol PERP 30
Phala Network PHA 30
Polymath POLY 30
Marlin POND 30
Power Ledger POWR 30
Pundi X PUNDIX 30
Quant QNT 30
Qtum QTUM 20
ReddCoin RDD 20
Reef REEF 30
Ren REN 30
Augur REP 30
Request Network REQ 30
iExec RLC RLC 30
Rally RLY 30
Oasis Network ROSE 0
Reserve Rights RSR 30
Ravencoin RVN 60
The Sandbox SAND 30
Shiba Inu SHIB 30
SKALE Network SKL 30
Smooth Love Potion SLP 30
Status SNT 30
Synthetix SNX 30
Solana SOL 0
Serum SRM 30
Steem STEEM 20
StormX STMX 30
Storj STORJ 30
Storm STORM 30
Stratis STRAT 60
Stratis STRAX 60
Substratum SUB 30
SuperFarm SUPER 30
SushiSwap SUSHI 30
Swipe SXP 30
TomoChain TOMO 30
Tellor TRB 30
Tron TRX 20
UMA UMA 30
Uniswap UNI 30
USD Coin USDC 30
Tether USDT 30
Utrust UTK 30
VeChain Thor VET 20
Voyager Token VGX 30
Vertcoin VTC 900
VeThor Token VTHO 20
Waves WAVES 10
WINkLink WIN 0
Waltonchain WTC 30
NEM XEM 10
Stellar XLM 1
Monero XMR 0
Ripple XRP 1
Tezos XTZ 30
Verge XVG 100
Yearn Finance YFI 30
DFI Money YFII 30
Zcash ZEC 0
Zilliqa ZIL 5
0x ZRX 30

Please note: Bitvavo is not able to affect the speed at which transactions are confirmed on their respective blockchains.*Execution times can vary based on the conditions of the network, but approximate times are listed in the table.