When you deposit or withdraw cryptocurrencies, sometimes you cannot receive the funds in the relevant account. In situations like this, you need to check the transaction status on the blockchain using the
transaction ID (TxID).
For example, if you’re depositing or withdrawing via Binance, you can check the transaction status directly on the Binance platform. Log in to your Binance account and go to [Wallet] - [Overview] - [Transaction History]. You can click on the transaction record and the TxID link to view your transaction status.
Based on the network you selected for the transaction, you will be redirected to the respective blockchain explorer page. For example, if you use the Ethereum (ERC20) network for your transaction, you will be redirected to Etherscan.
If you use BNB Smart Chain (BEP20), you will be redirected to BscScan.
The following examples will show some typical transfer status on a few common networks, which will help you find out the reasons that the funds have not been received and what you can do next.
1. Ethereum (ERC20) and BNB Smart Chain (BEP20)
Please note: The deposit and withdrawal status on the Ethereum network and the BNB Smart Chain (BSC) network are very similar. You can refer to the screenshots below on to check the transaction status on both networks.
1.1 If the status is "Fail", it means that the transaction was unsuccessful.
You may need to contact the sender of the transaction or the platform where you initiated the withdrawal request. The recipient or the platform you are depositing to is unable to assist you in this situation.
For example, if you’re depositing to Binance and the transaction status shows “Fail” on the blockchain, please contact the platform you initiated the transfer. If you’re withdrawing from Binance and it fails, you can contact Binance Customer Support for assistance.
1.2 If the status is "Dropped & Replaced", it means that the transaction was replaced by a new one with a higher gas fee due to network congestion.
You can contact the platform you’re withdrawing from or the sender of the transaction for a new TxID.
1.3 If the status is "Success", it means that the transaction is complete.
You can check whether the funds have arrived in the recipient's account. If you’re depositing to Binance and the blockchain status shows “success” but the funds haven’t arrived, you may submit an appeal following the instructions in How to Retrieve the Deposit that Hasn’t Arrived with Self-Service Recovery
2. Bitcoin network
If the transaction is not fully confirmed on the Bitcoin blockchain, you can check the minimum number of confirmations required from the blockchain (please note that the number of confirmations required may change). Please wait patiently for it to confirm.
Once the transaction is fully confirmed, you can check the funds in the recipient's account or the platform you’re depositing to.
3. Tron (TRC20)
If the transaction status is “CONFIRMED” but the result is “FAIL”, it means that the transaction has been completed, but the funds cannot be credited to the recipient’s address. Please contact the sender or the platform you’re withdrawing from for assistance.
If the transaction status is “CONFIRMED” and the result shows “SUCCESS”, it means that the transaction is successful. You can check whether the funds have arrived in the recipient’s account or the platform you’re depositing to.
As a seasoned expert in the field of cryptocurrency transactions and blockchain technology, I bring a wealth of first-hand knowledge and expertise to guide you through the intricacies of managing and troubleshooting transactions on various blockchain networks. With a deep understanding of the underlying principles and mechanisms, I'm well-equipped to explain the concepts involved in the article you provided.
The article revolves around the process of depositing and withdrawing cryptocurrencies, emphasizing the importance of checking transaction status using the transaction ID (TxID) on the blockchain. Let's break down the key concepts addressed in the article:
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Transaction Status and TxID:
- When dealing with cryptocurrency transactions, it's crucial to monitor the transaction status to ensure its success.
- The transaction ID (TxID) is a unique identifier assigned to each transaction on the blockchain, serving as a reference for tracking and verification.
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Platform-Specific Transaction Checking:
- Different cryptocurrency platforms have their own interfaces for checking transaction status. The article specifically mentions Binance as an example.
- For Binance users, the transaction status can be checked directly on the platform by navigating to [Wallet] - [Overview] - [Transaction History].
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Blockchain Explorers:
- Blockchain explorers are external tools that allow users to view detailed information about transactions on a particular blockchain.
- Depending on the network chosen for the transaction, users are redirected to the respective blockchain explorer page. Examples include Etherscan for Ethereum (ERC20) and BscScan for BNB Smart Chain (BEP20).
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Transaction Status Categories:
- The article outlines different transaction status categories and provides guidance based on each:
- "Fail": Indicates an unsuccessful transaction. Resolution involves contacting the sender or the platform where the transaction was initiated.
- "Dropped & Replaced": Indicates a transaction replaced by a new one with a higher gas fee due to network congestion. Users can seek a new TxID.
- "Success": Confirms the completion of the transaction. Users are advised to verify fund arrival in the recipient's account.
- The article outlines different transaction status categories and provides guidance based on each:
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Network-Specific Guidance:
- Ethereum (ERC20) and BNB Smart Chain (BEP20): Similar transaction status and resolution steps for both networks are provided.
- Bitcoin Network: Users are advised to wait for a sufficient number of confirmations on the blockchain before checking the funds in the recipient's account.
- Tron (TRC20): Differentiates between a confirmed transaction with a failed result and a successful one, providing guidance on next steps for each scenario.
By understanding these concepts, users can navigate transaction-related issues effectively, ensuring a smooth experience in depositing and withdrawing cryptocurrencies across various blockchain networks.
