Number of network confirmations

After the transaction is registered in the network, we will see the payment and continue the exchange.

Transaction confirmation is needed to prevent the same funds from being spent repeatedly. As soon as the sender transfers funds, the transaction enters the network for execution and inclusion in the block. It is the process of adding a transaction to a found block that is called a transaction confirmation. One block includes one confirmation. Once your transaction receives confirmation, the cryptocurrency becomes available for further use.

Confirmation speed depends on many factors, such as: workload of the network itself, the amount of commission specified during the transfer, the speed of your Internet connection, etc. On average it takes from 30 minutes to several hours to confirm the transaction. But sometimes it may take from 2 to 14 days if the network is overloaded. Withdrawal of funds will be technically possible when a certain number of confirmations by the network (depending on the type of credited cryptocurrency) occurs.

CoinSpace.Cash exchange service has set the following number of blocks needed to confirm the payment:

You can check the transaction status and number of confirmations by the transaction ID on the corresponding browser (for example - explorer).