Transaction

Transaction

A transaction is an entry in the blockchain that describes a transfer of Bitcoin from one address to another. A transaction occurs when data is sent to and from one Bitcoin address to another. Just like when you send money from one person to another in a traditional financial transaction, with Bitcoin you do a similar action by sending data (Bitcoin) to each other. 

 

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    • Confirmation

      Confirmation means that the transaction has been verified by the network and you receive this confirmation when sending out Bitcoin. Once a transaction is confirmed, it cannot be reversed or double spent.

    • Transaction Fee (Miner's Fee)

      Also known as a "miner's fee", a transaction fee is an amount of cryptocurrency that is collected by the miner from each transaction. See the list of our fees in this article.

    • Transaction ID (TXID)

      A Transaction ID or TXID is an identification number for a cryptocurrency transaction, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), or USD Coin (USDC). It is an alphanumeric string that uniquely labels each transaction within the respective ...

    • Public receipt

      A message proving that the traded Bitcoin has been received and the trading or transaction is successful.

    • Escrow Fee

      Escrow keeps the money in safekeeping until a transaction is completed. An escrow fee covers the cost of the service being provided.