Things to know about Bitcoin Transaction confirmation

Hello Steemians

Today lets check it out how the Bitcoin transaction confirmation works

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When any amount of BTC has been sent to any other member it has to give 3 confirmation to complete the transaction
In every 10 minutes a new block is created from the mining & added to the blockhain. which verify the new transaction & will be confirmed by the bitcoin network.

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When a person send BTC to another person it will be UNCONFIRMED till the next block is created,when the new block is created than that transaction is added into that block than it will be verified by the network which will be the first confirmation of the transaction.

Than again when new block is created than it will be reconfirmed by the bitcoin network.

HOW MANY CONFIRMATION ARE ENOUGH FOR COMPLETING THE TRANSACTION
If the amount of sending BTC is less than $1000 than one confirmation is enough.

Three confirmation is enough for the payments less than $10,000 more than $1000.

For a range between $10,000 to $1,000,000 it has to confirm at least 6 confirmation for a secure transaction.

HOW TO CHECK BITCOIN CONFIRMATION

When you send BTC , your wallet should give you an option to view the BTC transaction detail by giving the HASH ID OR TRANSACTION ID,which can be used in the block chain network for getting transaction detail.
Put your HASH ID into the blockchain.info to check your Trasnsaction confirmation

I hope you got some information from this blog

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