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 64
Aave AAVE 64
Cardano ADA 15
AdEx Network ADX 64
Aeternity AE 60
Aion AION 100
Akropolis AKRO 64
Algorand ALGO 0
MyNeighborAlice ALICE 64
Alpha Finance Lab ALPHA 64
Ankr ANKR 64
Aragon ANT 64
Arweave AR 0
Ark ARK 51
Automata Network ATA 64
Audius AUDIO 64
Avalanche AVAX 0
Axie Infinity AXS 64
Balancer BAL 64
Band Protocol BAND 64
Basic Attention Token BAT 64
Bitcoin Cash BCH 15
Binance Coin BNB 0
Bancor BNT 64
BarnBridge BOND 64
Bitcoin SV BSV 12
Bitcoin BTC 3
PancakeSwap CAKE 0
Celer Network CELR 64
Chromia CHR 64
Chiliz CHZ 64
Clover Finance CLV 64
CyberMiles CMT 10
Compound COMP 64
COTI COTI 64
Curve DAO Token CRV 64
Cartesi CTSI 64
Civic CVC 64
Dai DAI 64
Dash DASH 0
Streamr DATA 64
Decred DCR 6
Dent DENT 64
DigiByte DGB 20
DIA DIA 64
district0x DNT 64
Dogecoin DOGE 0
Polkadot DOT 0
Aelf ELF 64
Enjin ENJ 64
EOS EOS 400
Ethereum Classic ETC 14400
Ethereum ETH 64
Fetch.ai FET 64
Filecoin FIL 0
FORTH Governance Token FORTH 64
Fantom FTM 64
FTX Token FTT 64
Gas GAS 5
Aavegotchi GHST 64
Golem GLM 64
Gnosis GNO 64
Golem GNT 64
The Graph GRT 64
Helium HNT 0
Holo HOT 64
ICON ICX 3
Injective Protocol INJ 64
IOST IOST 100
JUST JST 0
Keep Network KEEP 64
Komodo KMD 60
Kyber Network KNC 64
Kusama KSM 0
Linear LINA 64
Chainlink LINK 64
Litentry LIT 64
Loom Network LOOM 64
Livepeer LPT 64
Loopring LRC 64
Lisk LSK 300
Litecoin LTC 10
LTO Network LTO 64
Decentraland MANA 64
Mask Network MASK 64
Polygon MATIC 64
IOTA MIOTA 1
Mirror Protocol MIR 64
Maker MKR 64
Enzyme MLN 64
Metal MTL 64
Nano NANO 1
Nebulas NAS 50
NEO NEO 5
NKN NKN 64
Numeraire NMR 64
Pundi X NPXS 64
NuCypher NU 64
NULS NULS 40
Ocean Protocol OCEAN 64
Origin Protocol OGN 64
OmiseGO OMG 64
Ontology Gas ONG 10
Ontology ONT 10
Orchid OXT 64
Perpetual Protocol PERP 64
Phala Network PHA 64
Polymath POLY 64
Marlin POND 64
Power Ledger POWR 64
Pundi X PUNDIX 64
Quant QNT 64
Qtum QTUM 20
ReddCoin RDD 20
Reef REEF 64
Ren REN 64
Augur REP 64
Request Network REQ 64
iExec RLC RLC 64
Rally RLY 64
Oasis Network ROSE 0
Reserve Rights RSR 64
Ravencoin RVN 60
The Sandbox SAND 64
Shiba Inu SHIB 64
SKALE Network SKL 64
Smooth Love Potion SLP 64
Status SNT 64
Synthetix SNX 64
Solana SOL 0
Serum SRM 64
Steem STEEM 20
StormX STMX 64
Storj STORJ 64
Storm STORM 64
Stratis STRAT 60
Stratis STRAX 60
Substratum SUB 64
SuperFarm SUPER 64
SushiSwap SUSHI 64
Swipe SXP 64
TomoChain TOMO 64
Tellor TRB 64
Tron TRX 20
UMA UMA 64
Uniswap UNI 64
USD Coin USDC 64
Tether USDT 64
Utrust UTK 64
VeChain Thor VET 20
Voyager Token VGX 64
Vertcoin VTC 900
VeThor Token VTHO 20
Waves WAVES 10
WINkLink WIN 0
Waltonchain WTC 64
NEM XEM 10
Stellar XLM 1
Monero XMR 0
Ripple XRP 1
Tezos XTZ 64
Verge XVG 100
Yearn Finance YFI 64
DFI Money YFII 64
Zcash ZEC 0
Zilliqa ZIL 5
0x ZRX 64

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.