TXID: The complete guide to blockchain transaction identifiers

Why is it important to understand what a TXID is?

When you transfer cryptocurrencies, each movement of funds receives a unique identifier called a TXID (Transaction ID) or transaction hash. Think of it as a serial number check for the crypto world – each TXID is a unique 64-character hexadecimal sequence that allows anyone to track exactly what happened to your funds on the blockchain.

How is a TXID generated and what does it contain?

The process is simpler than it seems. SHA-256 (Secure Hash Algorithm 256-bit) cryptography analyzes your transaction information: sender address, recipient address, and the amount of cryptocurrency transferred. From this data, the algorithm creates a unique 256-bit string, displayed as 64 hexadecimal characters. That’s why no TXID will ever be identical to another – each transaction is unique and verifiable.

Where and how to find your TXID?

When you sell funds from a centralized exchange, the platform will display the transaction ID in the Transaction History section. For some users, finding this identifier happens on the withdrawal page – click on the withdrawal details and you will see the TXID. If you click on this ID, you will be automatically directed to the relevant block explorer, where all transaction parameters are publicly visible.

Why is it essential to save your TXID?

Suppose you sent funds to an incorrect address or your withdrawal seems to have “disappeared.” The TXID in your withdrawal history is the starting point to investigate what happened. Through blockchain explorers, you can verify whether the funds reached the intended destination or if they were redirected elsewhere. Even in complex cases, the TXID allows you to analyze the transaction status – whether it’s confirmed, still in the mempool, or if something failed on-chain.

Historical examples of famous TXIDs

The first Bitcoin transaction in history, sent by Satoshi Nakamoto to Hal Finney, has the TXID: F4184fc596403b9d638783cf57adfe4c75c605f6356fbc91338530e9831e9e16

The famous Bitcoin pizza transaction, which became a small milestone in crypto history, bears the TXID: Cca7507897abc89628f450e8b1e0c6fca4ec3f7b34cccf55f3f531c659ff4d79

These TXIDs are permanently recorded on the blockchain and can be accessed at any time.

Transparency and privacy: the blockchain balance

Blockchain explorers provide full access to TXIDs and associated details, meaning anyone can track a transaction. Although sender and recipient addresses do not directly reveal real names, blockchain analysts have sophisticated methods to link identities to addresses. This is the nature of distributed transparency.

Important message for incorrect withdrawals

If you transferred funds on an incorrect blockchain or to a wrong address, contact the support teams of the involved exchanges as soon as possible. Recovery is not guaranteed, but your TXID is the proof they will need to investigate the situation. Don’t hesitate – your transaction document is the key to any remediation path.