Successful transactions

[penninah]

I am relatively new in Crypto trading and I have a question. How can I tell when a transaction has been sent or received successfully?

 

 

[Parker]

Hi Penninah,

Confirmations refer to the number of blocks that are added to the blockchain after you make a transaction.

For a transaction to have been sent or received successfully, six confirmations are required. This might vary depending on the amount you are transacting, whereby a big amount needs more confirmations and a lesser amount lesser confirmations. Each confirmation takes around ten minutes which means six confirmations will take an hour. The more they are,the harder it is to tamper with the blockchain.

The notifications you might receive after carrying out a transaction are as follows.

1. Failed: which means a mistake occurred in the process.
2. Expired notification: meaning the time stipulated for you to pay has elapsed.
3. Pending: signifies the number of required confirmations are not yet achieved.
4. Paid: this means the payment is successfully made and has reached your wallet.