How to speed up BTC transactions with unconfirmed transactions?

6 answers

• Dec 24, 2021 · 3 years ago
  One way to speed up BTC transactions with unconfirmed transactions is to increase the transaction fee. When you send a Bitcoin transaction, you can choose the fee you want to pay. The higher the fee, the more likely your transaction will be included in the next block. So, if you want your transaction to be confirmed faster, you can increase the fee. However, keep in mind that increasing the fee too much may not be cost-effective, especially if you're sending a small amount of BTC.
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• Dec 24, 2021 · 3 years ago
  Another way to speed up BTC transactions with unconfirmed transactions is to use a transaction accelerator. Some mining pools and services offer transaction acceleration services, where they prioritize your transaction and include it in the next block. These services usually charge a fee, but they can significantly speed up the confirmation process, especially during times of high network congestion.
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• Dec 24, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, also offers a feature called 'Fast Track' that can help speed up BTC transactions. With Fast Track, your transaction is prioritized and processed faster compared to regular transactions. This can be especially useful when the network is congested and transactions are taking longer to confirm. However, please note that this feature is only available for BYDFi users and may incur additional fees.
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• Dec 24, 2021 · 3 years ago
  If you're not using BYDFi or other transaction acceleration services, you can try to make your transaction more attractive to miners by using a technique called 'child-pays-for-parent' (CPFP). CPFP involves creating a new transaction that spends the unconfirmed output of your original transaction and includes a higher fee. This incentivizes miners to include both transactions in the next block, as they can earn more fees. However, CPFP requires some technical knowledge and may not always be successful.
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• Dec 24, 2021 · 3 years ago
  In addition to the above methods, you can also try to optimize your transaction by using a SegWit-enabled wallet. SegWit (Segregated Witness) is a Bitcoin protocol upgrade that increases the block size limit and improves transaction efficiency. By using a SegWit-enabled wallet, you can reduce the size of your transaction and potentially lower the fee required for confirmation. Many popular wallets now support SegWit, so it's worth checking if your wallet has this feature.
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• Dec 24, 2021 · 3 years ago
  If none of the above methods work or you're in a hurry, you can consider canceling your unconfirmed transaction and sending a new one with a higher fee. Most wallets allow you to replace an unconfirmed transaction with a new one that includes a higher fee. This effectively 'bumps' your transaction in the queue and increases the chances of it getting confirmed faster. However, keep in mind that this method may not always be possible or cost-effective, especially if the original transaction has already been broadcasted to the network for a long time.
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