Sending, receiving and reading a block explorer
Once you can read a block explorer, you stop needing anyone to tell you what happened to your money. This module covers both.
An address is nothing like a bank account
It is a long string derived mathematically from your public key. There is no name attached, no bank behind it, no branch, and no way to recall a payment. It is closer to a numbered locker than an account.
Addresses look different on different chains, and the shape tells you which chain it belongs to.
The four ways transfers go wrong
Address poisoning, and why you must never copy from history
Attackers generate an address whose first four and last four characters match one you use, then send you a tiny worthless transaction so it appears in your history. Later you copy an address from that history, glance at the ends, and send to them.
Always copy the address from its source. Check characters in the middle, not just the ends. And never, ever copy from your own transaction list.
What confirmations actually mean
When you send, the transaction is broadcast to the network and sits in a waiting area called the mempool. A validator picks it up and includes it in a block. That is one confirmation. Every block built on top afterwards is another.
More confirmations means more difficult to undo. Exchanges wait for a set number before crediting you, which is why a deposit can be visible on the explorer and not yet in your account. That is normal, not a fault.
Reading a block explorer, step by step
A block explorer is a free website that shows everything on a blockchain. Etherscan for Ethereum, Blockstream or Mempool for Bitcoin, Solscan for Solana. Every chain has one. You do not log in, because there is nothing to log in to: it is all public.
- Copy your transaction hash, the long string your wallet shows after sending. It is the receipt number.
- Paste it into the explorer for that chain and press search.
- Look at Status first. Success means it worked. Pending means it is still waiting. Failed means it reverted and the gas was still taken.
- Check From and To and confirm the destination is what you intended.
- Check Value and, for tokens, the token transfer section further down, which is where token amounts appear rather than in the main value field.
- Check Confirmations to see how settled it is.
- If it failed, look for the revert reason, which usually names the actual problem in plain text.
You can also paste an address instead of a hash and see every transaction it has ever made, its current balances, and which tokens it holds. This is how you check whether funds arrived, verify a project's claims, or see whether a token's supply is concentrated in a few wallets.
BEFORE YOU MOVE ON
Common questions
Why is my deposit not showing on the exchange?
Usually it needs more confirmations. Look the transaction up on the block explorer. If it shows as confirmed and the exchange still has not credited it after their stated number of confirmations, open a ticket with the transaction hash.
Can I cancel a crypto transaction?
Once confirmed, no. While still pending you can often replace it with a higher fee version, which is what Speed Up and Cancel do in most wallets.
What is a block explorer?
A free public website showing every transaction, address and balance on a blockchain. Etherscan for Ethereum, Solscan for Solana. No account needed, because the data is public by design.
Can people see my crypto balance?
Yes. Anyone with your address can see your full balance and transaction history forever. Blockchains are public records, not private accounts.
Risk warning: crypto is highly volatile and largely unregulated. You can lose everything you put in. Nothing here is financial, investment or tax advice.