Coinbase Deposits Now Only Require Three Confirmations


Last Friday, Coinbase released a statement saying it will reduce the number of confirmation requirements for four crypto assets on its platform.


The first of course being Bitcoin.


Ethereum Classic, Zcash, and Litecoin will also be included in the group of four who's confirmation requirements will be lowered.


According to Bitcoinist, Bitcoin for example, required 6 confirmations up to this point. Now, Coinbase is cutting that number in half to only 3. Ethereum Classic required 5676 confirmations, and now that number is 3527. At the same time the number of necessary Zcash confirmations so far was 18, but from now on it will only be 12. LTC, on the other hand, needed 6 requirements, but now Coinbase believes that this number should be increased to 12. In other words, BTC, ETC, and ZEC will now see much faster deposits, but in the case of LTC the process will last somewhat longer than it used to. Coinbase believes that this is necessary in order to reduce the risks and prevent issues such as 51% attacks impacting the exchange’s customers.








This article is not intended to be financial advice. As always, do your due diligence before investing, and never invest more than you can afford to lose.

  • Facebook
  • LinkedIn - Grey Circle
  • Instagram
  • YouTube

© CryptoBlock 2017 
A Certified Crypto-Asset Professionals LLC Subsidiary

DISCLAIMERS
LIMITATIONS ON GUIDANCE AND PROFESSIONAL ADVICE 

The CRYPTO BLOCK sites are not intended to provide legal, tax, investment or insurance advice. 

Rewards are never guaranteed. Any charts or simulations are for informational purposes only and do not constitute predictions about future rewards.  

Rewards from CRYPTO BLOCK directly, require compliance with CRYPTO BLOCK Know-Your-Customer policies. 

CRYPTO BLOCK facilitates trades as independent contractors. 

COPYRIGHT POLICY, LINKING POLICY, AND TRADEMARKS

The CRYPTO BLOCK sites are protected by applicable copyright laws. Accordingly, you may not copy, distribute, modify, post or frame-in the CRYPTO BLOCK sites, including any text, graphics, video, audio, software code, user interface design or logos.