Understanding Bitcoin Confirmation Time: Factors, Fees, and Best Practices
Confirmation time is the time a transaction takes from being submitted to being recorded to the blockchain.
Bitcoin’s proof of work mining takes on average 10 minutes for a new block to be mined. The time it takes for a transaction to be added to a new block can vary due to individual factors and network congestion.
A higher transaction fee will reduce this time, as miners are incentivised to prioritise that transaction.
Once a block is full of potential transactions, it is mined, or confirmed, then broadcast to the network.
It is common and best practice to have at least six confirmations for a transaction to be considered final.