Blockchain Transaction ID Meaning

What is a Blockchain Transaction ID (TXID)?

A transaction ID (TXID) is a unique string of letters and numbers that every verified transaction on a blockchain will have. When you initiate a transaction on a blockchain, that transaction immediately gets a transaction ID that makes it easy to trace and identify it on the blockchain. With a transaction ID, you can find information such as the amount sent, the transfer date, the sending and receiving addresses and the number of network confirmations carried out on the transaction on a blockchain explorer. 

Transaction ID works similarly to an order confirmation code that you get when you order goods from an online store which gives information on the package, date of arrival, and pick-up location. A transaction ID contains 64 characters of unique alphanumeric strings of numbers and alphabets, for example:

0x13f94f2a1718a9b540e2283b189f7e989bf6739d780ba83e0c8ff5c8c81fa610

Where Do I Find My Blockchain Transaction ID?

When you withdraw crypto from a centralized exchange, the platform will show your transaction ID in the transaction history section of your account. However, if the withdrawal is done from a wallet, you need to use a blockchain explorer to find your TXID with these four steps:

1. Open a blockchain explorer like blockchain.com, etherscan.io, or solscan.io. (The explorer depends on the blockchain that you used – Bitcoin, Ethereum, Solana.) 
2. Connect your wallet to the explorer.
3. Navigate to the completed transactions section where you will see all TXIDs displayed. 
4. Click on the transaction ID and you will see the details of the transaction. 

Why do I need a Transaction ID?

If you send funds to the wrong address or through the wrong blockchain, you need the transaction ID to begin the process of recovering the asset if it is possible. You can also use the TXID to verify if a sender has sent a cryptocurrency payment to your wallet address.