excryptLearnGet Excrypt ↗
Excrypt / LearnGUIDE 05 / 06

How Crypto Transactions Work

A crypto transaction is an instruction sent to a blockchain network. Your wallet prepares the instruction, helps you review it and uses your approval to sign it.

  1. Enter the recipient.Use the address intended for the selected network.
  2. Select the asset and amount.Check token details and available balance.
  3. The wallet creates the transaction.It prepares the network-specific instruction.
  4. Review and sign.Confirm the address, asset, network, amount, fee and permissions.
  5. Submit to the network.The signed transaction is broadcast for processing.
  6. The network processes it.Validators or other network participants apply the protocol rules.
  7. Receive confirmation.The transaction becomes part of the network’s shared record.

Fees and confirmation time

Network fees pay for processing and can change with demand. Confirmation speed depends on the network, fee settings and current conditions. A pending transaction is not the same as a confirmed one.

Hashes and explorers

A transaction hash is a unique identifier. A blockchain explorer can use it to show public network information such as status, addresses, amount and fee. Explorers do not reverse transactions or reveal private keys.