How to read a block explorer (Etherscan): A beginner's guide
Worried that the coins you sent have not arrived, or unsure whether an address someone gave you is genuine? A block explorer lets you check for yourself. Here is a guide beginners can follow.
This article provides information and is not an investment recommendation. Cryptocurrencies carry price volatility and loss risks, so make your own decisions.
What is a block explorer?
A block explorer is a public search tool that lets anyone look up transactions recorded on a blockchain. Etherscan (Etherscan.io) shows transactions on Ethereum. Bitcoin uses separate explorers such as Mempool.space or Blockchain.com.
Bank transaction records are held privately by the bank, while blockchain records are public. The key benefit is being able to verify that a transaction was processed without registering or logging in.
3 things you can look up on Etherscan
| What you enter | What you can check |
|---|---|
| Transaction hash (TxID, a long string starting with 0x) | Transfer success, amount, fee and processing time |
| Wallet address (starting with 0x) | Balance, full transaction history and tokens held |
| Contract address | Token issuance information and whether the code is verified |
Paste one of these values into the search bar at the top of Etherscan and press Enter. The transaction details also show the gas fee paid.
How to check a transaction or transfer
Sending coins from an exchange or wallet produces a transaction hash. Enter it into Etherscan to see the status.
- Success (green): The transaction completed normally.
- Pending: It is still being processed; allow some time.
- Fail (red): The transaction failed, commonly because of insufficient gas. The coins are not transferred, although a small fee may still be spent.
Verifying addresses and contracts
If you receive an unfamiliar token and doubt its authenticity, enter its contract address into Etherscan and check the following.
- Green check mark on the Contract tab: The code has been verified. Be more cautious if it is absent.
- Holders: A very small number of holders may be a warning sign.
- Imitations named after well-known coins: Tokens with the same name but different contract addresses are different tokens.
If an unknown token suddenly appears in your wallet, leave it alone and ignore it. Such scams are common. If its contract address differs by even one character from the address confirmed on the official website, it is not the genuine token.
Common beginner mistakes
- Mixing up networks: The same 0x address can exist on Ethereum, layer 2 networks or BNB Chain. Use an explorer for the network on which the transfer was sent.
- Checking only the final characters: Scammers create addresses with matching first and last characters. Copy and compare the entire address.
- Mistaking records for price information: An explorer shows transaction records, not price predictions or guaranteed returns.
A block explorer is a straightforward verification tool anyone can use for free. When something seems wrong, get into the habit of checking it yourself before contacting exchange support; this can greatly reduce scams and mistakes.
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