What is the confirmation process for ETH on Kucoin?

3 answers

• EevaanJul 07, 2021 · 4 years ago
  Sure! When you initiate an ETH transaction on Kucoin, it is first broadcasted to the Ethereum network. Miners on the network then compete to include your transaction in a block. Once your transaction is included in a block, it receives its first confirmation. The more confirmations your transaction receives, the more secure it becomes. On Kucoin, the number of confirmations required for an ETH transaction to be considered valid and irreversible is typically 12. This means that after 12 confirmations, your ETH transaction is fully confirmed and cannot be reversed. The time it takes for an ETH transaction to receive 12 confirmations can vary depending on network congestion and gas fees, but it usually takes around 3-5 minutes on average.
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• maximalNov 19, 2020 · 5 years ago
  The confirmation process for ETH on Kucoin is quite straightforward. After initiating an ETH transaction, it is added to the Ethereum network's mempool, where it waits to be picked up by miners. Miners then include your transaction in a block and start solving complex mathematical puzzles to validate the block. Once the block is validated, it is added to the blockchain, and your transaction receives its first confirmation. The confirmation process continues as more blocks are added to the blockchain, with each block adding another confirmation to your transaction. Kucoin requires 12 confirmations for an ETH transaction to be considered final and irreversible. The time it takes for these confirmations to occur can vary depending on network congestion and gas fees, but it typically takes a few minutes.
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• McNally SheppardDec 06, 2020 · 5 years ago
  When it comes to confirming ETH transactions on Kucoin, the process is quite similar to other exchanges. After initiating a transaction, it is broadcasted to the Ethereum network and awaits confirmation from miners. The number of confirmations required for an ETH transaction to be considered valid and irreversible on Kucoin is 12. This means that after 12 confirmations, your transaction is fully confirmed and cannot be reversed. The time it takes for an ETH transaction to receive 12 confirmations can vary depending on network congestion and gas fees, but it usually takes around 3-5 minutes on average. It's important to note that the confirmation process may take longer during periods of high network activity or congestion.
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