Confirmation of the transaction is necessary in order to prevent repeated expenditure of the same funds.
Once the sender transfers funds, the transaction enters the Bitcoin/Altcoins network for execution and inclusion in the block.
It is the process of adding a transaction to the structure of the found block, called the transaction confirmation, one block includes one confirmation.
Once your transaction is confirmed, Bitcoin/Altcoins coins become available for future use.
The speed of confirmation depends on a number of factors, such as: the workload of the Bitcoin/Altcoins network itself, the amount of commission specified during the transfer, the speed of the Internet connection, the technical serviceability of the resource where your wallet is located, etc.
As you probably know, before a transaction gets to the miners, the nodes relay it to each other until it spreads across the network. Transactions that have not yet been processed and confirmed by the miners are stored in the memory of the nodes in the pool (mempool) — https://blockchain.info/en/charts/mempool-count. While the transaction is stored in the pool (mempool) it is not visible on the Blockchain Explorer (https://blockchain.info, https://blockexplorer.com/).
Sometimes a transaction can be stored in a pool (mempool) 6–48 hours.
On average, the transaction confirmation lasts from 30 minutes to several hours.
But sometimes confirmation can wait 2-14 days if the Bitcoin/Altcoins network is overloaded.
We, when sending Bitcoin, pay the recommended commission according to the recommendations of the site Blockchain.info
We can not affect the time and speed of transaction confirmation on the Bitcoin/Altcoins network.
Is there a confirmation on the Bitcoin/Altcoins network?
Confirmation of operations in the Bitcoin/Altcoins network depends on the work of the miners. It is these people who make the work of the Bitcoin/Altcoins network live and act solely for their financial interests. The exchanger does not deal with the mining of Bitcoin/Altcoins coins and can not in any way affect the work of the miners. This is a process that does not depend on us, which occurs after the transfer of Bitcoin/Altcoins coins from the exchanger’s address to the address specified by the user in the application.
You will wait for confirmation by the network until the miner does not perform certain actions to extract the blocks. These are the fundamental properties of the Bitcoin/Altcoins network. If you intend to continue using Bitcoin/Altcoins coins, you will have to face it.
The exchanger’s obligations are considered fulfilled after the transfer of Bitcoin/Altcoins coins to the address specified by the client, which is confirmed by a record in the public registry. In our work we do not promise any increased commissions for the transaction, but we pay the standard commissions recommended by the network at the time of transfer. We do not predict the time of confirmation in the Bitcoin/Altcoins network and do not give any recommendations on this matter.
Any claims to the exchanger in relation to acknowledgments in the Bitcoin/Altcoins network are groundless and meaningless, Confirmation in the Bitcoin/Altcoins network is an uncontrolled process, a process that depends on the actions of third parties. This process occurs after the successful completion of the exchange in the user’s wallet.
Bitcoin/Altcoins has been downloaded frequently. This can be caused by various circumstances: a large number of unprocessed transactions, all kinds of attacks on the network by hackers, etc. The result is one. In such periods, the waiting time for confirmations can increase from several hours to several days.
Double Spend Bitcoin
Answer from Blockchain.info.
Bitcoin/Altcoins payments can not be canceled.
No Bitcoin/Altcoins transaction can be canceled. Only if the recipient himself returns the funds, you can get them back.