We have a requirement for a cryptocurrency deposit to receive a number of confirmations on its blockchain before the funds can be credited to your account.
What are confirmations?
After a transaction is broadcasted to a Blockchain, it is presented to be included in a block by the miners. Once a transaction has been included in a block, the transaction has had 1 confirmation. With each subsequent block, the number of confirmations increases for the transaction. To avoid the risks of double spending, funds aren’t credited until a number of confirmations have taken place depending on the cryptocurrency. Each block is found at a different rate depending on the blockchain. For example, a block is found on average every 10 Minutes on the Bitcoin blockchain, and Kraken only credits XBT/BTC deposits to a client’s account after 6 confirmations, which takes approximately one hour.
|Cryptocurrency||Confirmations Required||Estimated Time*|
|Bitcoin (XBT)||6 Confirmations||60 Minutes|
|Bitcoin Cash (BCH)||6 Confirmations||60 Minutes|
|Litecoin (LTC)||12 Confirmations||30 Minutes|
|Dogecoin (XDG)||20 Confirmations||20 Minutes|
|Stellar Lumens (XLM)||Near-instant|
|Ether (ETH)||30 Confirmations||6 Minutes|
|Ether Classic (ETC)||120 Confirmations||24 Minutes|
|Augur (REP)||30 Confirmations||6 Minutes|
|Iconomi (ICN)||30 Confirmations||6 Minutes|
|Zcash (ZEC)||24 Confirmations||60 Minutes|
|Tether USD (USDT)||6 Confirmations||60 Minutes|
|Dash (DASH)||6 Confirmations||15 Minutes|
|Gnosis (GNO)||30 Confirmations||6 Minutes|
|Monero (XMR)||15 Confirmations||30 Minutes|
|Melon (MLN)||30 Confirmations||6 Minutes|
|Eos (EOS)||30 Confirmations||6 Minutes|
* Execution times can vary based on the conditions of the network, but approximate times are listed here. The time estimates assume that your transaction has been confirmed in the first block after the transaction was sent. If your transaction did not confirm in the first block possible, it may take significantly longer depending on network conditions. Please note that we are not able to affect the speed at which transactions are confirmed on their respective blockchains.