Waiting for cryptocurrency to reflect in your account can be stressful. You hit send from your end, your account gets debited, but the receiving address hasn’t received it yet. 

Did I send it to the right address? Is the network down? Did I just lose my money?

Relax. Blockchain is pretty transparent. Instead of going through customer support, you can track the transaction. What’s more, the process is straightforward, too. Here is a comprehensive guide on how to track your Bitcoin transaction and ensure your funds are safe. 

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What You Need Before Tracking a Bitcoin Transaction

To play detective, you need the Transaction Hash. It is a unique string of alphanumeric characters, about 64 of them. It is a tag that helps identify a transaction. Here is how to access the transaction hash: 

Where do I find it?

  • Through Your Wallet: Go to your transaction history, click on the specific transfer, and look for Transaction ID, Hash, or View on Explorer.
  • Through an Exchange: Go to your withdrawal or deposit history. There will be a details section for that specific transfer containing the TXID.

Note: You cannot track a specific transaction effectively with your wallet address. A wallet address shows all the history associated with that address, which can be confusing. The transaction hash pinpoints the exact movement of funds you are worried about.

How to Track Bitcoin Transactions: Two Main Methods

Tracking Bitcoin transactions is simple; here is how to go about it: 

1. Track Using a Bitcoin Block Explorer

The most reliable way to learn how to track a Bitcoin transaction is by using a Blockchain Explorer. A Blockchain Explorer is technically a search engine for the Bitcoin network.

They are public, free, and show everything happening on the network. 

Popular Blockchain Explorers include:

Step-by-Step Guide:

  1. Copy your transaction hash from your wallet or exchange as we explained above.
  2. Open a browser and go to one of the explorers above (e.g., Mempool.space).
  3. Paste the hash into the search bar at the top and hit enter.
  4. Read the Status:
    • Unconfirmed: Your transaction is waiting on a miner to pick it up.
    • Confirmed: Your transaction has been added to a block.
    • Block Height: This tells you which block your transaction is in.

If the explorer says “Confirmed,” the money has moved, regardless of what’s on your wallet app. There are several instances of wallet apps glitching.

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2. Track from Your Wallet or Exchange

If you aren’t comfortable with using a block explorer, most modern wallets and exchanges have built-in tracking features.

For Private Wallets 

Click on the specific transaction. The app will usually show a status icon. On some apps, you would also see that option to View on Block Explorer. If you tap this option, it redirects you to Method 1 without needing to copy-paste the transaction hash. 

For Exchanges (e.g. Breet):

When you use a custodial exchange, like Breet, the internal status might differ slightly from the blockchain status.

  • Processing: This means the exchange is still preparing to send the crypto. It hasn’t hit the blockchain yet.
  • Sent/Completed: The exchange has broadcasted the transaction. Now it is up to the blockchain to confirm it.

Note for Breet Users: Breet is an automated OTC platform. When you send crypto to your Breet wallet, you might see it confirmed on the blockchain before it reflects in your Naira balance. This is normal. The system requires a specific number of confirmations (usually 1-3) to ensure safety before crediting your fiat value.

Tracking Bitcoin Transactions: Understanding Transaction Status 

track bitcoin transaction online

When you look up your transaction, you will see one of three main statuses. Here is what they mean:

1. Unconfirmed/Pending (0 Confirmations)

The transaction has been broadcast to the network, but no miner has included it in a block yet. This is usually as a result of a busy network, or the fee was too low compared to other users. With low fees, miners aren’t incentivized to take on your transaction. While it is safe, do not consider the payment complete yet.

2. Confirmed (1+ Confirmations)

A miner has added your transaction to a block.

  • 1 Confirmation: The money has arrived, but for large amounts, it’s safer to wait.
  • 3 Confirmations: Generally considered secure for most payments.
  • 6 Confirmations: Mathematically irreversible. Standard for very large transfers.

3. Failed/Dropped

This is rare. If a transaction stays in the mempool (pending) for too long without being picked up, it may be dropped. The funds effectively return to the sender’s wallet (or rather, they never technically left).

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Common Problems When Tracking Bitcoin & How to Fix Them

  • Transaction Not Found

This usually means the transaction hasn’t propagated to the node you are checking yet (give it a minute), or the exchange hasn’t actually sent it yet. Double-check that you copied the TXID correctly.

  • It’s Been Pending for Hours

You just have to wait. If you are the sender and using a specialized wallet, you might be able to use “Replace-by-Fee” (RBF) to bump up the fee, but mostly, patience is the only cure.

  • Sent to the Wrong Address

If you check the explorer and see the funds moved to an address that isn’t yours (or the intended recipient’s), and the status is “Confirmed,” the money is gone. This is why double-checking the first and last 4 characters of an address is vital.

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Frequently Asked Questions (FAQs) on How to Track Bitcoin Transactions

Can I Track a Bitcoin Transaction with just the Wallet Address?

Yes, you can paste a wallet address into a block explorer to see all incoming and outgoing transactions for that wallet. However, if the wallet has many transactions, finding the specific one you are looking for can be difficult. Using a transaction hash is much faster and more accurate.

Why is my Bitcoin Transaction Unconfirmed for so Long?

Bitcoin blocks are mined approximately every 10 minutes, and there is limited space in each block. If the network is busy and the fee attached to your transaction is lower than the current average, miners will prioritize other transactions that paid more. Your transaction is essentially stuck in traffic.

Can I Cancel a Pending Bitcoin Transaction?

Generally, no. Once broadcast, you cannot simply press “cancel.” However, if your wallet supports RBF (Replace-By-Fee), you can essentially “overwrite” the stuck transaction by sending a new one with a higher fee. Alternatively, if it remains unconfirmed for a very long time (usually 2 weeks), the network may forget it, and the funds will reappear in your wallet.

Is it Safe to Share my Transaction Hash with others?

Yes, it is perfectly safe. A TXID does not give anyone access to your private keys or your funds. It simply serves as proof of payment. With the hash, the other party can verify that the money is on its way.

Why Does my Wallet say “Confirmed” but the Exchange says “Processing”?

Exchanges often require a higher safety threshold than personal wallets. While your wallet might consider 1 confirmation enough to show the funds as “received,” an exchange might require 2 or 3 confirmations before they credit your account balance to protect against double-spending attacks.

Conclusion on How to Track Bitcoin Transaction

When sending Bitcoin, it is normal to have transactions that are a bit slow. However, now you know what to do when that happens. You can simply check the status through a Blockchain Explorer or your wallet. In this article, we went over all you need to know to track your transaction on either platform. 

Author

  • Olajide ayomide

    Helping the crypto community to better understand cryptocurrency and related concepts one article at a time.