Tracking cryptocurrency transactions is essential for users of cryptocurrency exchanges and platforms to monitor the movement of their funds and ensure the accuracy and security of transactions.
Before you begin tracking a cryptocurrency transaction, gather all the necessary information related to the transaction. This includes the wallet addresses of the sender and receiver, the transaction ID (also known as the hash), the sent amount, the date and time of the transaction, as well as any notes or remarks associated with the transaction. This information is usually provided by the cryptocurrency exchange or wallet service.
Next, go to a reliable blockchain explorer website that supports the specific cryptocurrency you’re interested in. Popular options inсlude: Blockchair, Etherscan.io (for Ethereum-based tokens), and Blockchain.info (for Bitcoins).
In the search bar of the blockchain explorer, enter the transaction ID (hash) of the transaction you want to track. This unique string of characters will help you locate the specific transaction on the blockchain.
Once you input the transaction ID, the explorer will display detailed information about the transaction, such as the sender and receiver addresses, the sent amount, transaction status (confirmed or pending), and the number of confirmations.
Check Transaction Status
When tracking a cryptocurrency transaction, it’s important to check its status. The transaction status can be classified as:
Unconfirmed: The transaction has been broadcasted to the network but hasn’t been included in a block yet. It’s still awaiting confirmation.
Confirmed: The transaction has been included in a block and added to the blockchain. The number of confirmations indicates the level of security.
Invalid: this transaction was not successfully completed and cannot be confirmed in the blockchain network. May occur due to network congestion or other problems.
After tracking the transaction and checking its status, continue to monitor its progress. Additionally, it’s recommended to keep a record of your transactions, including transaction IDs, dates, amounts, and any relevant notes.
