Category: Understanding Cryptocurrencies

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Why Wait For 6 Confirmations?

Why Wait For 6 Confirmations?

Most exchanges only accept deposits of Bitcoins after 6 confirmations. What does this mean and why is 6 supposed to be such a magical number? To understand this we first need to understand how a blockchain works. If you haven’t yet read the blockchain article it is recommended that you do so first. I will quickly repeat […]

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