When dealing with cryptocurrency, it is crucial to check the confirmation status of Bitcoin transactions. This can be done using a blockchain Explorer tool or the transaction ID (TXID). The number of confirmations required varies depending on the exchange and amount transferred, but most BTC wallets require three confirmations. Confirmation time can be affected by network activity, transaction fees, and transaction size, with higher fees leading to faster confirmation. It is important to regularly check the confirmation status of Bitcoin transactions, which can be easily done using a blockchain explorer.