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Bittrex bitcoin pending depositHow to Fix Pending Bitcoin Transactions ( Updated)
The lower the fee, the less incentive miners have to verify your transaction. As you saw above in the snapshot of the Mempool, the bulk of pending transactions are green and blue, i. There is little incentive for miners to process these when they could be expending their hash power on more lucrative transactions. It looks something like this:.
This is what an unconfirmed transaction looks like. You can see that it is not included in any block, but is still in the Mempool. If we compare the fee paid for this transaction If you have crypto on Coinbase that you want to withdraw to another wallet or sent to someone else, you may be wondering how long it takes. If your transaction is stuck, you have a few options. The first - and the most boring - is to simply wait.
Even with a very low fee, it is very likely that your transaction will eventually be processed. If you really want to get your transaction through as quickly as possible, two strategies you can use are:.
The Replace By Fee method is the simplest and most reliable way of pushing through a stuck transaction. It involves rebroadcasting the unconfirmed transaction again, but this time with a higher fee.
This works as long as the unconfirmed transaction really is unconfirmed, i. This way, the double-spend problem is avoided. Many wallets such as Electrum allow you to replace a stuck transaction with one with a higher fee. The idea is to create a new transaction B - the child - which uses part of the unconfirmed transaction A - the parent - as an input. This new transaction should have a relatively high fee attached to it.
For miners to confirm Transaction B they will also have to include Transaction A into the block. If the fee of Transaction B is high enough to pay for both transactions, miners will prioritize it. There is a useful guide here if you find yourself needing to push a transaction through using this method. One benefit is that the recipient of a stuck transaction can push it through using the CPFP method, whereas RBF can only be done by the sender. Transaction acceleration is basically a service offered by mining pools, where for a fee they will prioritize your transaction and put it at the top of their mining list.
As the two methods outlined above work just fine, and transaction accelerators rely on trusted third parties, they should only be used as a last resort. Fee calculators can help you find out what to set your transaction fee as.
We have a great fee calculator that uses up to the minute information to determine the optimal fee for your Bitcoin transaction. Most wallet clients and exchanges will automatically examine the blockchain to determine the best fee for your transaction. How long you bitcoin transaction is pending depends on the fee you set when you sent it. If you set low fees, you transaction may be pending for a very long time.
If you set very high fees, you transaction may only be pending for 10 minutes. Each block is added approximately every 10 minutes though can be more faster or slower than that. Inclusion in a block is an auction of sorts.
The transactions that make it into the next block are the ones who bid the highest. Unlike transactions on the blockchain, bitcoin purchases on exchanges can be pending indefinitely. That is because it is up to the exchange to decide when they are going to accept your payment.
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