Bitcoin Forum

Hello,

I just signed up to Binance.com and tried my first bitcoin transaction. What I did was found someone on the p2p list who sold me some bitcoin with PayPal payment.
I received the payment and transferred to the Spot wallet.

I want to see the address the bitcoin was deposit into and search on a block Explorer to see the transaction histories related to it.

I click on deposit and it gives me an address. I check this address on block Explorer but it has 0 bitcoins and no transaction history. I assume this is a new address given to me not the old address that was used to deposit bitcoin into and if I buy something with this address binance will just automatically transfer bitcoin from old address into this new one and then onto the sellers address?

If so, how can I view the old address that has my bitcoins currently in it? I'd like to block Explorer it for learning purposes. Is there an address history list?

Thanks in advance for any help you can provide.
Silhorn.

I have never used Binance P2P but you can see their guides: https://www.binance.com/en/support/articles/360039384951-How-to-Buy-Cryptocurrency-on-Binance-P2P-App--

With P2P marketplaces, does not restrict to Binance P2P, as sellers, they will only release their bitcoin or crypto if they receive money (in bank transfer, PayPal) from the buyer (you are a buyer).

The guide emphasizes that you have to Transfer bitcoin to your Spot wallet, and Binance does not do it automatically for you. Please see it with Step 8.
The guide to Sell: https://www.binance.com/en/support/articles/360039385091-How-to-Sell-Cryptocurrency-on-Binance-P2P-App--
P2P User Transaction Policy: https://www.binance.com/en/support/faq/360041066751

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PayPal is a risky payment method.

I already tried to use P2P exchange in Binance and it was good in our country since there is a lot of mode of payments available.

Here's the answer to your question about using the block explorer to check the transaction you made;
The seller in P2P Exchange Binance has already owned Bitcoin in his/her Binance account and it will just transfer into your account without creating a transaction in the Bitcoin network, that's why you didn't see any transaction in your Bitcoin deposit address in Binance.
You can only see transactions in your Bitcoin deposit address once you sent some Bitcoin there from an external Bitcoin wallet.

@Silhorn, What @GreatArkansas said is true especially when using Binance Peer to Peer Market platform (P2P).

You cannot verify the transaction that happened during the trade in blockexplorer because it is an "Off chain" transaction which means that the particular transfer of bitcoin into your P2P wallet occurred outside the blockhain itself as opposed with "on-chain" transaction. That is why the transfer of bitcoin occurred instantly without paying any transaction fees.

However, if you decide to transfer your bitcoin from Binance to any wallet or an exchange, that is the only time where you can see the transaction details using your preferred bitcoin explorer.

So it can be explained as a credit to your account instantly. It is a credited balance and you have to claim it to Spot wallet to have real Bitcoin. If you don't claim it in Spot wallet, it is only a credited number.

I don't use Binance P2P so please ignore my thinking if it is not true.

Blockchain explorer is a transparent record book for onchain transactions. Like what @Maus0728 said, all transactions will not reflect on it since you are on a centralized market and only interaction with other segregate wallet will be shown in the explorer.

Never thought of this, but when I checked my cex wallet address on explorer it did not show any synchronize value and figure when you checked your wallet. Obviously its not recorded.