Bitcoin has gained popularity among investors due to its transparency and decentralized approach. Each transaction that is performed on the Bitcoin blockchain is stored in a publically available database called a distributed ledger. This means the Bitcoin addresses are publicly stored along with the transactions. By using those Bitcoin addresses you can view further activities associated with those Bitcoin addresses. To know more about how it is possible read the complete article. Well, in this article we will have a brief note on the activity of a Bitcoin address. Without wasting more time let's deep dive into it!
How to View the Activity of a Bitcoin Address
With the help of a Bitcoin address, users can perform a wide range of activities such as (sending, receiving, holding, trading, donating, and mining bitcoins). To identify the deep insights of each transaction we always go to view the activity of the Bitcoin address. Through this, we can identify the overall problems and the malicious pointers in the transaction associated with any specific Bitcoin address.
As we all know, with the help of Bitcoin we can transfer funds anonymously although each transaction held by any Bitcoin address is publicly available in the form of a distributed ledger. But in the distributed ledger user identity is not directly linked with the Bitcoin address and the purpose behind this approach is to retain the partial anonymity of the users. Partial anonymity means Bitcoin can never keep your transaction fully private. So due to this reason, the tracing of your Bitcoin transaction is possible.
Most of the users used various mechanisms ( such as a mixer or tumbler) to keep their transactions completely anonymous. These mechanisms just make the Bitcoin transactions difficult to trace, which means the transaction can still trace.
Now, let's get to the important part, which is viewing a Bitcoin address activity. So as I discussed each transaction is stored in a distributed ledger which means each transaction is completely under the eye of everyone. Anyone can access all the activities associated with any specific Bitcoin address not directly but of course using some tools and techniques that I’m going to discuss with you guys. So, here are the very few and easiest steps by following them you can detect deep insights into each transaction to view the activities completely:
- Bitcoin Address Identification: Identify the Bitcoin address that you want to view
- Go to Blockchain Explorer: Enter the Bitcoin address into the search bar of any blockchain explorer that is open, then press Enter.
- Check the History: Blockchain Explorer displays a complete list of all transactions associated with that particular Bitcoin address.
- Analyzing the Activities: Various transactions performed by a single Bitcoin address through which you can identify every single activity associated with that particular Bitcoin address. Such as you can check the total number of (BTC) sent or received by that Bitcoin address.
- Use of Additional Tools: In case of finding any malicious activity you can further analyze it by using various tools such as Chainalysis, BlockSeer, Crystal, WalletExplorer, Bigquery, OXT, and BTC.com. With the help of these tools, you can track the flow of transactions and finally, you can detect the originator.
To view the activities on the Bitcoin blockchain, users can use the Bitcoin address. You just need to go to Blockchain Explorer and search for the desired Bitcoin address. It gives you historical data associated with that particular Bitcoin address. Here you can analyze each transaction and in case of further analysis on a single transaction that looks suspicious. You can do further analysis on that suspicious transaction by using additional tools.