What is "Block Confirmation" and "Number of Block Confirmations"?
A block confirmation refers to the process where blockchain miners package your deposit or withdrawal transaction data into a block (data block). Each time a block is confirmed, it represents one block confirmation. Different cryptocurrencies and networks require different numbers of block confirmations.
For example, when withdrawing digital assets to the blockchain, the asset is eventually packaged into a block by miners. Before being packaged, the confirmation count of this asset is set to 0 (0 confirmations). When the transaction is included in the latest block and verified by miners, the confirmation count increases by 1. Each time a new block is created, the confirmation count will increase by 1 until it reaches the required number of block confirmations for that cryptocurrency to be credited. The more confirmations there are, the more difficult it is to tamper with blockchain data, thus ensuring higher security for the transaction.
How to Check Block Confirmations?
To check the block confirmations for a specific cryptocurrency deposit, follow these steps on the BitradeX website:
- Visit the homepage of the BitradeX website and log in to your account.
- Click on Asset Management at the top-right corner of the page.
- Select Deposit and choose the cryptocurrency and network you are interested in.
- At the bottom of the deposit page, you will see the required number of block confirmations for that cryptocurrency to be credited.
- Once the actual number of confirmations reaches the required amount, the asset will be credited to your account. You can also check the deposit progress in the Deposit History section.
This allows you to track the confirmation status of your deposit in real-time.