- This topic has 1 reply, 1 voice, and was last updated 4 months ago by 234tom.
October 21, 2019 at 2:23 pm #889kava22Guest
Hi for 12 hours I’ve been waiting for my Bitcoin Transaction to be completed. I wanted to transfer a small amount of BTC from my blockchain wallet to my account, but unfortunately the waiting time is very long. The fact that I didn’t give high priority to giving it a high priority I regretted 5 $ more per transaction but I didn’t expect it to have such an impact.
What can I do now if the transfer doesn’t want to go?
From what I read, a Bitcoin Transaction cannot be cancelled.October 21, 2019 at 2:24 pm #890234tomGuest
From a technical point of view, when sending a transfer in Bitcoin, the size of the block in kilobytes, rather than the actual number of sent Bitcoins, is what counts. In practice, it looks like it is much faster to process one bigger block than a few small blocks from different sources. In addition, we have to take into account the fee for miners. The amount of satoshi per transfer byte, the number of unconfirmed transactions and the waiting time can be checked at bitcoinfees.21.co .
If your transaction is stuck because of a low transfer fee, we have several options.
Wait until the transaction with such a commission becomes attractive for the miners to process, although it may well be cancelled after a few days and return to us.
Use ViaBTC’s block acceleration tool. By the way, for those of you who have already used it, share your experience.
If you have used Electrum’s wallet, you have certainly set it to “Replace-by-fee” and we can then change the transfer fee to make it more attractive.
Copy your wallet if you are able to do so and manually remove the transaction. Then you can try to resend it again. This option, however, requires you to know how your wallet is built.
5. use the “Child Pays For Parent” method where the recipient increases the fee for the transfer sent to him.