What is the average number of confirmations required for Ethereum on Binance?

5 answers

• Aurora D.JJun 22, 2022 · 3 years ago
  Sure! The average number of confirmations required for Ethereum transactions on Binance is 12. Confirmations are an important part of the transaction validation process in the blockchain. Each confirmation represents a new block being added to the Ethereum blockchain, which increases the security and immutability of the transaction. The more confirmations a transaction has, the less likely it is to be reversed or tampered with.
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• triggerMay 25, 2021 · 4 years ago
  The average number of confirmations needed for Ethereum transactions on Binance is 12. Confirmations are basically the number of blocks that have been added to the Ethereum blockchain after your transaction has been included in a block. Each confirmation increases the level of trust and security of the transaction. Binance requires a certain number of confirmations before considering a transaction as fully confirmed and irreversible.
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• Jenny Mae SaysonMay 03, 2024 · a year ago
  According to BYDFi, a popular cryptocurrency exchange, the average number of confirmations required for Ethereum transactions on Binance is 12. Confirmations are necessary to ensure the validity and security of the transaction. Each confirmation represents a new block being added to the Ethereum blockchain, which adds to the overall security of the network. Binance follows industry standards and requires a certain number of confirmations before considering a transaction as fully confirmed.
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• Lahari MannamSep 01, 2023 · 2 years ago
  The average number of confirmations required for Ethereum transactions on Binance is 12. Confirmations are an essential part of the transaction validation process in the Ethereum network. Each confirmation represents a new block being added to the blockchain, which adds to the overall security and trustworthiness of the transaction. Binance, being a reputable cryptocurrency exchange, follows industry standards and requires a certain number of confirmations before considering a transaction as fully confirmed.
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• JumpGoodSa123Nov 08, 2023 · 2 years ago
  The average number of confirmations needed for Ethereum transactions on Binance is 12. Confirmations are important for ensuring the integrity and security of the transaction. Each confirmation represents a new block being added to the Ethereum blockchain, which makes the transaction more secure and resistant to tampering. Binance, like other reputable exchanges, follows industry standards and requires a certain number of confirmations before considering a transaction as fully confirmed.
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