What is a Transaction ID and why is it helpful?
The Transaction ID is very important as it is unique for every transaction. It is a direct way to see your transaction on the blockchain and can provide much-needed information when something doesn’t seem right with your crypto! A Transaction ID offers proof/evidence for whether the funds were successfully sent and received.
If you have sent a transaction out of somewhere and cannot see the transaction in the service you sent your funds to, the first thing to check is to make sure the transaction is valid and has been confirmed on the blockchain by finding the Transaction ID.
Taking a look at the Transaction ID
Every cryptocurrency works slightly differently and will have a different way to view blockchain transactions. In this article, we will be using the popular Bitcoin block explorer called Mempool.space.
Look to see how many confirmations the transaction has
When your crypto has not shown up at its destination, the best thing to do is take a look at how many confirmations it has. To do this open up a transaction, we will use this one as an example: