My first bitcoin purchase, how to find TXID

[pomme7000]

Newbie question. Today I made my first-ever crypto purchase, buying some bitcoin on the Coinbase exchange. Now, I would like to find my purchase transaction on the blockchain. To do this, I understand that I need to find the TXID for my transaction.

I've watched a few YouTube videos that indicate I should locate my purchase confirmation within Coinbase, then click on a "view transaction" link to see my TXID. It all looks simple on YouTube, but when I look at my purchase confirmation, I only see a purchase reference code (an 8-digit alphanumeric code). I do not see a "view transaction" link, and I do not see a TXID.

How do I find my TXID in Coinbase? Is there a way I can use the purchase reference code to find m TXID? Thank you.

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[hosseinimr93]

You haven't withdrawn the fund yet. Have you?
If you just bought bitcoin and you haven't withdrawn that, no transaction has been made and there is no transaction ID.
Note that the fund is still on coinbase wallet and you can request a withdrawal. If you do so, then coinbase will make a transaction and will give you the transaction ID.

[BitMaxz]

Why are you looking for a transaction TXID?

I don't know how Coinbase works if someone buys Bitcoin with FIAT but usually to any exchange it doesn't have any TXID generated it is only credited to your account once and also if you KYC verified and the details of the bank or cards are matched with your account it will be credited.


You can only have TXID if you made a withdrawal transaction or received Bitcoin.

[pomme7000]

Thank you for your responses. You guys are teaching me something new. Let me clarify please.

Yes, I purchased bitcoin on Coinbase with fiat (USD). And no, I have not yet moved the bitcoin from Coinbase to my cold wallet. So, if I understand your responses, then:

1. Even though Coinbase indicates that I own the bitcoin, the blockchain contains no record of my purchase, or of any transfer of bitcoin to me. Correct?

2. If there is no record in the blockchain, and if Coinbase disappears tomorrow, then my ownership of bitcoin also disappears. Also correct?

3. I guess you are telling me that, as a general rule, whenever I purchase bitcoin, I should promptly transfer the bitcoin to my cold wallet. Again correct?

4. And lastly, when I do transfer the bitcoin to my cold wallet, I then will see a TXID showing a transfer to bitcoin to me? But what will the other side of the transaction look like (ie. from whom will the bitcoin be transferred)?

Thanks again.

[sheenshane]

How long your transaction has been made before checking the "view transaction" button?
It takes maybe a minute before it will appear, I don't know how Coinbase works but I assume it's the same with all custodial wallets.  The transaction was been made by their own wallet for the in and out.  When you purchase, it comes from a different wallet address.

Check your Bitcoin address on this site https://blockchair.com/, maybe it wasn't broadcasted yet by this exchange the reason you can't find TXID.

[odolvlobo]

Thank you for your responses. You guys are teaching me something new. Let me clarify please.

Yes, I purchased bitcoin on Coinbase with fiat (USD). And no, I have not yet moved the bitcoin from Coinbase to my cold wallet. So, if I understand your responses, then:

1. Even though Coinbase indicates that I own the bitcoin, the blockchain contains no record of my purchase, or of any transfer of bitcoin to me. Correct?

2. If there is no record in the blockchain, and if Coinbase disappears tomorrow, then my ownership of bitcoin also disappears. Also correct?

3. I guess you are telling me that, as a general rule, whenever I purchase bitcoin, I should promptly transfer the bitcoin to my cold wallet. Again correct?

4. And lastly, when I do transfer the bitcoin to my cold wallet, I then will see a TXID showing a transfer to bitcoin to me? But what will the other side of the transaction look like (ie. from whom will the bitcoin be transferred)?

Thanks again.

1. No transfer has actually taken place, except in Coinbase's records. They simply credit your account and debit another account.

2. Yes.

3. Promptly is up to you. Many people don't bother because letting Coinbase hold their bitcoins may be convenient (until it isn't).

4. When Coinbase transfers your coins to an address in your wallet outside of Coinbase, it must be done via a transaction on the block chain. Transactions don't have sides. They just record the transfer of coins from one address to another.

[hosseinimr93]

1. Even though Coinbase indicates that I own the bitcoin, the blockchain contains no record of my purchase, or of any transfer of bitcoin to me. Correct?

Correct.
There is no transaction on the blockchain to be shown.
Coinbase displays a number as your balance and promise that you can withdraw that. This promise can be broken at any time.

2. If there is no record in the blockchain, and if Coinbase disappears tomorrow, then my ownership of bitcoin also disappears. Also correct?

Correct.
As long as your fund is on coinbase, they have full control over that.
If they disappear for any reason, you will lose your money.

3. I guess you are telling me that, as a general rule, whenever I purchase bitcoin, I should promptly transfer the bitcoin to my cold wallet. Again correct?

It's recommended to move your bitcoin to your own wallet. In this way, you can have full control over your fund.
If your wallet is a cold wallet, you can be more secure.

4. And lastly, when I do transfer the bitcoin to my cold wallet, I then will see a TXID showing a transfer to bitcoin to me? But what will the other side of the transaction look like (ie. from whom will the bitcoin be transferred)?

Your wallet should show a same transaction.

[pomme7000]

Thanks again. Very helpful.

This is a great forum.