Everyone who has ever bought or exchanged cryptocurrency has encountered the term “Transaction ID” (or simply TXID). What is this string of letters and numbers, why is it so important, and how is it used? Let’s break it down in detail, especially in the context of cryptocurrencies.
What is a Transaction ID
A Transaction ID is a unique identifier of each transaction that is assigned when cryptocurrency or any other financial operation is sent. It’s like a store receipt, but in the blockchain – it cannot be faked or altered.
It looks like a long string of letters and numbers. Example:
e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855
Each such code is unique and refers to one specific transaction. Even if you send the same amount to the same person again – it will have a different TXID.
Why Transaction ID is Important
- Transfer verification: you can check if the funds have reached the recipient.
- Security control: you can see where the coins came from and where they went.
- Support request: if there’s an issue – TXID is the first thing you need.
- Transaction tracking: using blockchain explorers like blockchain.com, Etherscan, or Tronscan.
Transaction ID in Bitcoin
In the Bitcoin network, as soon as a transaction gets confirmed, it is assigned a TXID. You can enter this ID into a block explorer and see:
- Transfer amount
- Sender and recipient address
- Transaction time
- Confirmation status
Important: no personal data is shown. Only wallet addresses.
Transaction ID in PayPal and Google Pay
If you use traditional payment systems like PayPal, Google Pay, or Apple Pay – each transaction also has its own identifier.
- PayPal: 17 characters, found in the “Activity” section.
- Google Pay: shown in the transaction history at pay.google.com.
Unlike the blockchain, these identifiers are not public and work only within the systеm.
Difference Between Purchase ID and Transaction ID
A Purchase ID is the order ID, like in an online store. It relates to internal records. A Transaction ID refers to the actual money transfer.
Example: you could make a purchase using bonuses – then you’d have a Purchase ID but no Transaction ID.
How to Find Your Transaction ID
- In your crypto wallet: most wallets (Trust Wallet, MetaMask, Exodus, etc.) display TXID in the transaction history.
- On the exchange: in your withdrawal/deposit history.
- In your email: confirmation emails from the wallet or exchange often contain the TXID.
- In a blockchain explorer: if you know the sender’s or recipient’s address and approximate time – you can trace it.
Conclusion
The Transaction ID is a key tool for control and transparency in the world of cryptocurrencies. It lets you verify any operation, trace funds, and protect against fraud. Always keep your TXID after each transaction and don’t share it with third parties unless necessary. It’s not just a set of letters – it’s your digital receipt, your protection, and your transparency.