When you deposit or withdraw cryptocurrencies, sometimes you cannot receive the funds in the relevant account. In situations like this, you need to check the transaction status on the blockchain using the
For example, if you’re depositing or withdrawing via Binance, you can check the transaction status directly on the Binance platform. Log in to your Binance account and go to [Wallet] - [Overview] - [Transaction History]. You can click on the transaction record and the TxID link to view your transaction status.
Based on the network you selected for the transaction, you will be redirected to the respective blockchain explorer page. For example, if you use the Ethereum (ERC20) network for your transaction, you will be redirected to Etherscan. If you use BNB Smart Chain (BEP20), you will be redirected to BscScan.
The following examples will show some typical transfer status on a few common networks, which will help you find out the reasons that the funds have not been received and what you can do next.
1. Ethereum (ERC20) and BNB Smart Chain (BEP20)
Please note: The deposit and withdrawal status on the Ethereum network and the BNB Smart Chain (BSC) network are very similar. You can refer to the screenshots below on to check the transaction status on both networks.
1.1 If the status is "Fail", it means that the transaction was unsuccessful.
You may need to contact the sender of the transaction or the platform where you initiated the withdrawal request. The recipient or the platform you are depositing to is unable to assist you in this situation.
For example, if you’re depositing to Binance and the transaction status shows “Fail” on the blockchain, please contact the platform you initiated the transfer. If you’re withdrawing from Binance and it fails, you can contact Binance Customer Support for assistance.
1.2 If the status is "Dropped & Replaced", it means that the transaction was replaced by a new one with a higher gas fee due to network congestion.
You can contact the platform you’re withdrawing from or the sender of the transaction for a new TxID.
1.3 If the status is "Success", it means that the transaction is complete.
You can check whether the funds have arrived in the recipient's account. If you’re depositing to Binance and the blockchain status shows “success” but the funds haven’t arrived, you may submit an appeal following the instructions in How to Retrieve the Deposit that Hasn’t Arrived with Self-Service Recovery
2. Bitcoin network
If the transaction is not fully confirmed on the Bitcoin blockchain, you can check the minimum number of confirmations required from the blockchain (please note that the number of confirmations required may change). Please wait patiently for it to confirm.
Once the transaction is fully confirmed, you can check the funds in the recipient's account or the platform you’re depositing to.
3. Tron (TRC20)
If the transaction status is “CONFIRMED” but the result is “FAIL”, it means that the transaction has been completed, but the funds cannot be credited to the recipient’s address. Please contact the sender or the platform you’re withdrawing from for assistance.
If the transaction status is “CONFIRMED” and the result shows “SUCCESS”, it means that the transaction is successful. You can check whether the funds have arrived in the recipient’s account or the platform you’re depositing to.
On Binance, you can find this on your Transaction History page. If you click on a TXID for a given withdrawal, it'll take you to the relevant transaction in that blockchain's block explorer.
First, choose a transaction from your wallet. Each transaction has a unique ID called TXID. In the main wallet, you can view the transaction on the Blockchain Explorer directly. If not, manually search for the ID within the explorer.
You can check on your transaction in any Bitcoin blockchain explorer by searching the Bitcoin address where your funds were sent. By matching the address with the date, time, and value of your transaction, you can find the transaction hash ID.
You can use this transaction ID on a blockchain explorer, a kind of search engine for blockchain transactions, to look up the transaction details and confirmations. This is an essential feature for troubleshooting transaction issues, ensuring transparency, and maintaining trust within the network.
If your transaction is not showing on the blockchain, it is most likely in the “queue” — the Bitcoin mempool and expects the miners to include it in the block. The position in the mempool depends on what fee (fee per byte) you sent your transaction to — the higher the commission, the faster your transaction will go.
All Bitcoin transactions need six confirmations in the blockchain from miners before being processed. In most cases, Bitcoin transactions need 1 to 1.5 hours to complete.
Realistically, every bitcoin can be traced and tracked from its initial wallet to the one it currently sits in today. However, the blockchain only stores the public addresses of crypto wallets, not real-world identities. This makes bitcoin pseudonymous rather than anonymous.
It takes some time for the transactions to get confirmed on the blockchain and depending on the fees you selected, it may take from 1 minute to several hours. Network congestion also has a big impact on how long you need to wait. If many people are doing transactions right now, it will increase the waiting time.
USD deposited via ACH is available for trading instantly, but it cannot be withdrawn from your account for 7 days, nor can the equivalent value of any assets into which you exchanged the USD that you deposited via ACH. After the holding period expires, you will be able to withdraw the funds.
Why is my Bitcoin transaction pending? Although your wallet balance is updated immediately, your transaction will remain listed as 'pending' until at least one Bitcoin miner has included it in a block.
Check your bank account statement: Your IMPS transaction ID should be listed on your bank account statement, which you can usually access through your online banking account or by contacting your bank.
When it comes to BTC transaction time, in most cases, funds are moved within an hour. Many platforms require six confirmations, which take about ten minutes each, thus an hour for the transaction to complete. Of course, there are some that only require a few confirmations, so you're looking […]
A transaction hash/ID (often abbreviated as tx hash or txn hash) is a unique identifier, similar to a receipt, that serves as proof that a transaction was validated and added to the blockchain. In many cases, a transaction hash is needed in order to locate funds. Look up transaction details, such as: Sending address.
We know that the Bitcoin blockchain will always process a block every 10 minutes or so. But, more often than not, some broadcasted transactions cannot fit in the next block or the block after that. Some level of network congestion is a normal and expected occurrence.
If the transaction has been pending for a long time, it may be stuck. This can only be done if the transaction is still unconfirmed. Wait for the transaction to be processed. The network will eventually get less congested and the miners will pick up the transaction.
The transaction status lets the user know the status of a transaction. Transaction change or dropping a transaction is allowed in different states. A transaction can be in any of the following three statuses: Transaction status diagram. As shown in the preceding diagram, transactions are always initiated by an EOA.
A Bitcoin address by itself is not traceable, as there is no identifying information stored directly on the blockchain. But there are ways that the identity of an individual can be linked to specific wallets they own and transactions they have made. This is why Bitcoin is not anonymous — it's pseudonymous.
Where is the blockchain stored? The blockchain is stored on a network of computers (nodes) that participate in the validation and verification of transactions. Each node maintains a copy of the entire blockchain, which is continually updated as new transactions are added to the network.
Introduction: My name is Kimberely Baumbach CPA, I am a gorgeous, bright, charming, encouraging, zealous, lively, good person who loves writing and wants to share my knowledge and understanding with you.
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