Note: This is not complete article and it is to be edited.
One of the brilliant aspects of using Bitcoin is the fact that it is built off a technology that enables anyone to track transactions on a technology called the blockchain. It permits one to
- Trace all transactions from and to a particular wallet at any point of time with its associated time stamp
- Ensure a transaction is on way and verify it through checking the number of confirmations on it
- See the total number of transactions from the past associated with a certain wallet.
You can see all previous transactions associated to your account by visiting the "YOUR WALLET" section.
Once there, click on view transactions to see associated transactions. You will be able to notice all incoming transactions in association with the number of confirmation here. In this context, a “confirmation” is basically an entry on a globally maintained ledger called the blockchain. Any entry made here is basically shared around the globe and cannot be re-written. Due to the same, our platform has the highest levels of transactions security and record maintenance associated with it.
Here are some explanations to the terms used in the transactions page:
- Sent: Represents all transactions from the wallet to an external wallet
- Received: Represents all transactions from an external wallet into our system
- Tx ID: Also referred to as transaction id - is the id linked to your transaction. It is basically a means to find your transaction on the blockchain which is a compilation of transactions occuring globally
- Confirmation: This refers to the number of times a transaction has been verified on the globally available blockchain. If 3 confirmations are linked to an account, it is usually considered safe to go through with the transaction.