May 18, 2022
Speed Up Bitcoin Transactions: How to Make Your Bitcoin Transactions Faster
A bitcoin transaction is stuck on the blockchain because it had very low fees, it is a real pain in the neck, everyone has experienced it at least once and everyone wonders how can I do the transaction Well, today I’m going to give you three options on what to do if your bitcoin transaction is stuck in the blockchain.
Online Transaction Accelerator
The first way is to use a transaction accelerator. There’s a lot out there including via btc which i’ve got up right here btc.com and confirmtx many others in order to do this. You just need to go to one of these websites and grab your transaction id on the electrum wallet. I’m going to right-click the transaction again and copy this transaction id paste it in there and then you can pay for more or submit it for free and this will bump up the transaction a little bit to make it go by a little bit quicker and if it is crowded due to the blockchain.
Replace by Fee
This is done when you have sent the transaction yourself. To do this you will need to use a certain type of wallet. The most common one that accepts this is Electrum so I’m going to show you how to do it here on Electrum and how to make sure the transaction has a replaceable fee. The first thing you need to do is to make sure it’s on, so when you’ve downloaded your electrum wallet go-to devices electrum preferences and then go to transactions and make sure it’s replaced by the fee button. The checkmark is done whenever you do a transaction.
So go ahead and send this small amount of bitcoin, I’m going to click on payment under advanced, then double-check that you’ve been replaced with a free fee. Checked if you have it turned on in the tool, it should be turned on automatically in the transaction. But sometimes it’s a good idea to double-check that it’s working then I’ve set my fee and I’m going to go ahead and send this transaction so now you can see here I got this transaction here which is sent and it is taking a long time.
So I can right-click on it and click on it to increase the fee and choose a new fee rate and then click on ok and that will increase the fee for that transaction it’s very fast Will go.