how to track bitcoin transaction on blockchain

By confirming transactions on the blockchain, you can trace the journey of Bitcoin from its originating wallet to its final destination, monitoring its progress and ensuring its validity.

Oct 17, 2024 at 07:00 pm

How to Track Bitcoin Transactions on the Blockchain

1. Find the transaction hash. The transaction hash is a unique identifier for each bitcoin transaction. You can find the transaction hash in the blockchain explorer.
2. Enter the transaction hash into the blockchain explorer. There are many different blockchain explorers available, such as Blockchain.com, Blockstream.info, and Etherscan.io.
3. View the transaction details. The blockchain explorer will show you the details of the transaction, including the sender, the recipient, the amount of bitcoin that was sent, and the time and date of the transaction.
4. Follow the bitcoin. If you want to see where the bitcoin went after it was sent, you can click on the recipient's address in the blockchain explorer. This will show you a list of all the transactions that have been sent to and from this address.
5. Confirm transactions. This allows you to trace the path of this Bitcoin transaction from the sending wallet to the receiving wallet. Each transaction contains a unique hash (or ID) that can be used to track it through the blockchain.
   When the transaction is completed, it will have a status of complete or confirmed.
6. Create new transaction. You can also start tracking a transaction from the point when it's initiated. Begin by locating the sending wallet address and inputting the transaction ID. Verify the information is correct before broadcasting the transaction to the Bitcoin network.
7. Confirmation speed. Bitcoin transactions typically receive their first confirmation within 10 minutes. However, this can vary depending on the network's congestion. You can monitor the progress of your transaction by checking its status on a block explorer.
8. Transaction costs. Transferring Bitcoin typically incurs a transaction fee. This fee compensates miners for verifying and adding the transaction to the blockchain. Fees can fluctuate based on network demand and the size of your transaction

By following these steps, you can easily track bitcoin transactions on the blockchain.