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Bitcoin explained: How do cryptocurrencies work? - BBC NewsAverage time it takes to mine a Bitcoin from January to January 14, (in minutes) Monthly figures are as of the end of that particular. Kraken's confirmations requirements ; Bitcoin Cash (BCH), 15 confirmations, hours ( minutes) ; BitDAO (BIT), Approximately 70 confirmations, 14 minutes. The average time for one Bitcoin confirmation has recently ranged anywhere from 30 minutes to over 16 hours in extreme cases. Average Bitcoin transaction.