What is a confirmation from the Bitcoin network?

To move Bitcoins from the old owner to the new one, you need to receive confirmation from the network. Without this, the user will not be able to dispose of coins that are formally considered his property.

Immediately after the operation with the cryptocurrency, data about it is sent to the network to carry out the corresponding transaction. This information is to be included in the block, due to which it acquires legitimacy for all participants in the system. The procedure for attaching data about the operation to the composition of the block is called network confirmation.

This process has a protective function. This is how the system prevents the reuse of the same coins.

It is believed that with each inclusion in the block, the transaction receives one confirmation. As a rule, the legitimacy of the operation is considered proven when six or more confirmations are received on the network. The inclusion in the block is carried out during the generation of virtual coins.

How many confirmations do I need?

As mentioned above, in the classic version, an operation with Bitcoins is considered legitimate if at least six transaction confirmations are received from the miners. This value was not chosen by chance. It is based on the theory that the probability of a fraudster accumulating 10% of the network hash, the amount necessary to fake a payment, is a negligible percentage (less than 0.1). Therefore, the receipt of six confirmations is a reliable guarantee for the prevention of criminal manipulations.

At the same time, trading platforms that accept Bitcoins as payment for goods and services may, at their discretion, set the number of blocks required to confirm the payment.
How long does it take to receive confirmation?

It is impossible to answer this question unequivocally. After all, the duration of the process depends on the work of crypto miners, that is, people who are mining virtual coins. The interested person must wait for confirmation until the miner has obtained the next block.

The process of obtaining confirmation lasts from twenty minutes to several days. The duration of this option depends on a number of factors. These include network congestion, the number of unprocessed operations, hacker attacks, and more. It is not possible to predict in advance the exact amount of time needed to include a transaction in the next block. In any case, a person who intends to use cryptocurrency needs to learn patience. Although there is another way to reduce the time interval required to make a money transfer. It is enough to establish high commissions.