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

Digital currency

Confirmations required

0x

30

Aelf

30

Aeternity

60

Aion

100

Aragon

30

Ark

51

Basic Attention Token

30

Bitcoin

3

Bitcoin Cash

15

Bitcoin Satoshi Vision

12

Cardano

15

Chainlink

30

Cybermiles

10

Decred

6

DigiByte

20

Enjin

30

EOS

400

Ethereum

30

Ethereum Classic

500

Gas

5

Golem

30

Holochain

30

ICON

3

IOST

100

IOTA

1

Komodo

30

Lisk

300

Litecoin

10

Loopring

30

Nano

1

Nebulas

50

NEM

10

NEO

5

NULS

40

OmiseGO

30

Ontology

10

Ontology Gas

10

Power Ledger

30

Pundi X

30

Qtum

20

Ravencoin

60

ReddCoin

20

Request Network

30

Ripple

1

Status

30

Steem

20

Stellar

1

Storm

30

Stratis

60

Tezos

30

Tron

20

VeChain Thor

20

VeThor Token

20

Verge

100

Vertcoin

900

Waltonchain

30

Waves

10

Zilliqa

5


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