What You Will Learn?
- Etherscan is a blockchain explorer and analytics platform where you can check your transactions, and keep track of them.
- It provides up-to-date information on Ethereum network gas prices (in Gwei), helping users estimate transaction costs and decide the optimal time to send transactions to avoid high fees.
- To truly master the world of blockchain, you need to develop the crucial skill of reading blockchain transactions and data.
What is Etherscan?
Etherscan is an Ethereum blockchain explorer used to check wallet transactions, ethereum transaction fees history and live gas fee. Besides wallet tracking, you can also use Etherscan to check overall performance of Ethereum based tokens like MATIC, LINK, PEPE, AAVE and ARB.Besides tracking ERC-20 tokens you can also track NFT transactions and mints.
In the following guide we will explain a simple process on how to use Etherscan for tracking your wallet.
How To Track ETH Wallet Using Etherscan?
On Etherscan you can track any Ethereum wallet address. Simply enter the address and you can track most of the wallet activity that you may want to track. You can check the address balance, view your portfolio and transaction history using ETH address or an ENS.
ENS stands for Ethereum Name Service – a platform that allows you to buy your own domain which also acts as your ETH wallet.
Below you will find a quick demonstration of how the ENS domain is looked up. For this example, I will search for the domain.
Copy the domain name and paste it in Etherscan’s search bar.
Now, you will see an address. Click on it.
Now you can see all the wallet activity.
Besides tracking your transactions in your ETH wallet you can also sign up on Etherscan to send you email notifications on sending and receiving ETH based transactions.
Following is a guide to help you set up these notifications for your ETH wallet with Etherscan.
First head over to Etherscan and click on Sign In.
Now, click on sign up and add your username, password & email address to sign up for an Etherscan account.
Once you have entered all the details, you will see a dialog box like the one below.
Now, go to your email account and click on the verification link to complete the process.
Now, we will look at how to track an ETH wallet using Etherscan. To get notifications on all incoming and outgoing transactions from your wallet, simply follow the guide below.
Click on the profile icon.
Now, click on My profile from the drop down menu.
Next, click on the watch list tab to add your Ethereum address.
Checkbox the notifications you want on your email and hit continue.
Now you will receive all transaction details on your email.
What Are The Features of Etherscan?
Etherscan like Google can help you stay ahead in the game of search. Following are the features that make Etherscan a useful blockchain tracking tool.
- Transaction Tracking: This is a fundamental feature. Users can input a transaction hash also called as transaction id (txid) to view complete details of a specific transaction, including Sender and receiver addresses Transaction amount (in ETH or other tokens) Gas fees and gas used Transaction status (pending, successful, or failed) Timestamp and block number.
- Smart Contract Analysis: Etherscan allows you to read and understand verified smart contracts. You can analyze contract events and interactions, understanding how a contract operates and what actions have been performed.
- Account Balance and Token Holdings: You can check your account balance and your portfolio simply by pasting your ETH wallet address.
- Token Chart Visualizer: This tool allows you to check cryptocurrencies distributed across crypto wallets on blockchain. The most immediate use is to see where a token is held. The size of the “bubbles” (nodes) in the visualization typically represents the amount of the token held by that address. This helps in understanding the concentration of ownership.
- Ethereum Charts & Statistics: This tool allows you to check a range of data points like daily verified smart contracts on Ethereum, daily transactions chart, average transaction chart & dex activity.
- Private Name Tags & Private Transaction Notes: Use of these tags allows you to personalise your use of Ethereum wallets and ERC20 tokens. Unlike public name tags like name of dex on Ethereum: Uniswap is a public name tag. Examples of private name tags are the following: ‘My wallet’, Sara’s wallet. This naming of ETH wallets makes managing wallets and transaction details on Ethereum a breeze. Similar to name tags, users can add transaction notes on received and sent funds via ETH wallets like Metamask.
- Top Mints & Trades: You can track NFT activity to monitor the overall performance or status of any NFTs minted on Ethereum blockchain.
How To Get Started With Etherscan?
To start using the explorer visit etherscan.io and explore the useful features. If you are a beginner you can start with wallet tracking and eth gas price (past & live price). Besides live gas price the explorer also shows estimated gas price for crypto swapping, bridging tokens and NFT minting. For trends and historical context, Etherscan offers a chart of the daily average gas price used on the Ethereum network
Track Transaction Status: To check the status of any transaction simply copy the transaction hash – it is like a transaction is used to check the status and time of the transaction. Besides the status of the transaction, Etherscan also shows from where the transaction was made. (for example if you have sent or received crypto via platforms like Remitano or Uniswap, this is clearly stated in the transaction details dashboard.
Customizing Etherscan Account: You can start adding private name tags to contract addresses. This feature is particularly helpful for managing multiple wallets or identifying specific addresses for personal or business purposes. Besides using private name tags for easier identification of different addresses and elements in new contract addresses, you can also add transaction notes to any transaction (send, receive). This feature is also useful as you can write the reason for transferring the amount/ receiving in the amount in your wallet. (Note: To use these features you need to sign up for Etherscan’s free basic account)
Ethereum Gas Price: You can check the current transaction price (gas price) to measure if the price to transact on Ethereum is higher or lower than the average. You can also check the price for swapping,bridging, borrowing and minting nfts on Ethereum by simply clicking on the gas price in Etherscan’s main navigation menu.
Transaction Status Checker: One of the most useful features of a blockchain explorer like Etherscan is that it allows you to check the status of your transactions on chain with just a few details. All you have to do is paste your Ethereum wallet address into the search bar and inspect the transactions made through your wallet. If you have the transaction hash you can simply paste that into the search bar and check the status of your transaction.
ERC 20 Tokens Exploring: Etherscan is the perfect tool for doing all your token research. Blockchain explorers are not just limited to monitoring wallets and transactions, they are also analytical tools for research. On Etherscan, you can simply check the top 100 tokens and top transfers that will give you a headway into what is trending on Ethereum and which tokens are being transacted in real time.
Wrapping Up
As a comprehensive blockchain explorer, it demystifies the intricate world of decentralized transactions and data, transforming raw blockchain information into easily digestible insights. Through its intuitive interface, Etherscan empowers users to track real-time transaction statuses, monitor wallet activity, analyze smart contracts, and stay informed on crucial network metrics like gas prices.
By providing transparency and accessibility to the Ethereum ecosystem, Etherscan not only fosters a deeper understanding of digital assets and dApps but also equips users with the essential skills to confidently interact with and analyze the blockchain.
