How to view transaction ID: A practical guide from basics to practice

What is a transaction ID?

In the world of blockchain, each transaction has a unique identity card - this is the transaction ID. This code consists of two parts: a combination of encrypted numbers and letters that represent the complete information of this transaction.

How is this identifier created by the system? When you initiate a transaction, the blockchain collects all the transaction details—including your wallet address, the recipient's address, and the transfer amount—then compresses this information into a 64-character hexadecimal code using cryptographic algorithms (Bitcoin uses SHA-256 technology). This is your transaction hash.

The brilliance of this design lies in the fact that it protects privacy (by not directly exposing personal identity) while providing complete transparency (anyone can verify the authenticity of transactions).

The Two Most Famous Transactions in History

When we talk about milestones in blockchain, we have to mention two classic cases:

Genesis Transaction is the first Bitcoin transfer sent by Сатоши Накамото to Hal Finney. The transaction ID is: F4184fc596403b9d638783cf57adfe4c75c605f6356fbc91338530e9831e9e16

Pizza transaction symbolizes the application of cryptocurrency—someone bought two pizzas for 10,000 bitcoins. The hash of this legendary transaction is: Cca7507897abc89628f450e8b1e0c6fca4ec3f7b34cccf55f3f531c659ff4d79

These two transactions demonstrate the evolution of Bitcoin from an experiment to a daily application.

Technical Details: How SHA-256 Generates Transaction ID

Understanding the principle of transaction ID requires knowledge of the cryptographic standards used by Bitcoin. SHA-256 is a military-grade hashing algorithm, and its working principle is quite straightforward:

Input any transaction data → SHA-256 processing → Output a unique code of 256 bits (i.e., 64 hexadecimal characters)

This means that even the smallest change in the transaction data will completely change the entire хеш. This “sensitivity” ensures that every transaction recorded on the блокчейне cannot be tampered with.

Locate transaction ID on centralized trading platform

If you perform a withdrawal operation on Binance or other CEX, the platform will automatically generate and display the transaction ID for this transaction. The specific location is usually on the “Withdrawal History” page.

Click on that transaction ID link, you will be directed to a block explorer (such as blockchain.com or blockchair.com), where you can see:

• Exact sending and receiving address
• Transaction Amount
• Transaction fee
• Confirmation Count
• Timestamp

This feature is particularly useful—if you accidentally send to the wrong address or select the wrong blockchain, the block explorer will intuitively show the destination of your funds, making it easier for you to take remedial actions (such as contacting the recipient or reporting to the exchange support team).

Why Every Crypto User Should Know How to Query Transaction ID

Mastering the ability to find and verify transaction IDs is the first step in self-protection. By verifying through a block explorer, you can confirm whether the funds have truly been put on the chain, whether they have reached the target address, or whether they are stuck at some point. Although the transaction ID itself does not reveal personal identity, in conjunction with on-chain analysis tools, it is theoretically possible to trace the flow of funds.

Therefore, the next time you perform a withdrawal operation, remember to note down that хеш—it is the only key for tracking your funds.