more. Its extremely simple and super cool! Verifying that transaction of course! Address, Transaction,or, block, bitcoin, ethereum. After sending your coins from one address (exchange or wallet) to another, you would receive a transaction ID (or TxID) from your exchange/wallet.
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If you see 3 confirmations, it means that there are 3 blocks containing hundreds of transactions each on top of your block. A confirmation means your transaction has been recorded in the blockchain (forever!). (Read also: Guide on Identifying Scam Coins fees, the total fees you pay is indicated at the green box above, and this represents the fee that you have to pay the miners in the network. Well start with the most widely used cryptocurrency, Bitcoin. If you look at the term Confirmations (as indicated in Red above this shows the location of your transaction. Because they play a huge role in securing your transactions and making sure that your transactions are recorded safely in the Blockchain. You can also input your exchange or wallet address (can be either the depositing or receiving address). Usually, a total of 6 confirmations is needed before your coins are reflected at the receiving address. Different cryptocurrencies have their own blockchain, which can be accessed from a website. This TxID represents a unique fingerprint of your transaction and allows your transaction to be tracked. You can also join our Facebook group at Master The Crypto: Advanced Cryptocurrency Knowledge to ask any questions regarding cryptos!