Blockchain offers many benefits for individuals and businesses. When it comes to cryptocurrencies, the distributed ledger technology enables faster, cheaper and more transparent payments. Whether you are sending or receiving digital currencies, you can easily locate the transaction on the blockchain. And you’re about to learn how.
In case you’re not familiar with blockchain technology, let’s break it up for you. Blockchain is a ledger. A decentralized database where transactions are permanently recorded.
When you send money using your bank account, the transaction is recorded on the bank’s database. With Bitcoin or any other digital currencies, transactions are stored on blockchains.
If you send 1 Bitcoin (BTC) to your friend, that transaction will be recorded on a particular block of the Bitcoin blockchain. Since blockchain is public and decentralized, anyone can access the data. So if you’re wondering “Where’s my Bitcoin”, you can check it out in seconds.
3 Steps To Find Your Transaction On The Blockchain
1. Locate the transaction within your wallet
Launch your cryptocurrency wallet and find the History section. If you’re using the Crypterium Wallet, click on the ‘History’ tab to see all your transactions. Once you have located the transaction, press on it to find more details.
2. Find the Transaction Identity Number (TXID)
All blockchain transactions come with a transaction hash or ID (TXID) so that you can easily find them on the blockchain afterwards. The TXID consists of letters and numbers. To proceed, click on the icon on the right to copy the TXID.
3. Open a Block Explorer
Depending on which cryptocurrency wallet you’re using, you can either use a built-in Block Explorer, or simply copy the TXID on an external one.
If you opt for an external Block Explorer, there are some of the best blockchain explorers:
Block or blockchain explorers work just like a search engine. So the process it’s pretty straight forward: enter the TXID and click ‘Search’. If the transaction is found on the blockchain, most likely it will display the following basic details:
- Transaction date
- From (wallet address)
- To (wallet address)
- Fees (including fee per byte and weight unit)
- Total amount (in cryptocurrency)
- Block number (where the transaction is stored)
Frequently Asked Questions
We get it. These topics aren’t easy to process. That’s why we’ve put together a list of common questions that you may come across eventually. In any case, all Crypterium users are welcome to contact our 24/7 support center for further guidance.
Where do I find my TXID?
If you’re using the Crypterium Wallet, your ID will always show in the transaction details. However, some cryptocurrency wallets do not provide this information. If that’s the case with your current provider, contact the support team and ask for your TXID.
What do I need a TXID for?
Blockchain technology guarantees full transparency. That means you can check your transactions at all times, no matter where you are. And that’s useful in plenty of situations:
Proof of payment
If you are sending money to a person or business, you need a receipt. The TXID is exactly that — a digital receipt of your blockchain transaction.
From time to time, blockchains undergo maintenance. Transactions then take longer to process. Having your TXID in hand will give you peace of mind since you can verify the status of the transaction on the blockchain. If the transaction shows up on the block explorer, then you can rest assured that the transaction is in progress and will soon be confirmed.
I cannot find my transaction on the blockchain. Why?
First, breathe. Believe or not, the most common answer to this question is that you’ve been looking at the wrong block explorer. Yeap, there are multiple blockchain explorers.
Some blockchain explorers only support Bitcoin transactions. So if you’ve entered a Bitcoin Cash TXID you wouldn’t find a thing. To make sure you always find what you’re looking for, we should use a multi-blockchain explorer such as Blockchair. This explorer supports over ten different blockchains, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, and others.
Another reason behind your struggle to find the transaction might be the provided TXID. Make sure you’ve got it right. That’s why Crypterium allows you to copy it straight from the wallet.