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Looks like you are either stuck with a never-ending transaction or an unconfirmed transaction that doesn't seem to go away even after hours.
If this is you, this article will cover all the essential parts of speeding up your existing Bitcoin transaction to escape the infinite waiting game.
This guide is applicable to our Bitcoin DeFi features—both Bitcoin and Stacks token trading.
The average time for a Bitcoin transaction depends on:
You need to check the Bitcoin network status to know the average time because there is NO exact average time per transaction for Bitcoin at any given time.
The size of the mempool indicates the number of unconfirmed transactions waiting to be included in a Bitcoin block. A larger mempool size suggests network congestion.
To monitor the mempool size, one can check various blockchain explorers or websites that provide real-time information on the mempool.
To find out the current average transaction time for Bitcoin, you need to see the 'Average block time' as shown in the image below.
Click here to visit Mempool: https://mempool.space/
Always monitor the current transaction fees!
During times of network congestion, users tend to pay higher transaction fees to incentivize miners to include their transactions in the next block. By observing changes in transaction fees, one can infer the level of network congestion.
You can also check them before sending a transaction through the Leather wallet.
Let's say you cannot wait for your transaction to confirm, here's are the 4 ways you can speed up your pending transaction:
This feature allows you to rebroadcast your transaction with a higher fee. It's particularly useful if you initially set a low fee. Not all Bitcoin wallets support RBF, so you'll need to check if yours does.
When you enable RBF, you essentially signal to miners that you may resend the same transaction with a higher fee. Once you resend it with a higher fee, it becomes more attractive for miners to confirm.
Electrum allows you to increase your pending transaction fee, which uses RBF.
If your transaction is stuck and you're receiving the funds, you can use CPFP. By creating a new transaction where you spend the unconfirmed funds (child transaction) with a high transaction fee, you incentivize miners to confirm the original (parent) transaction in order to confirm the child transaction.
Essentially, the high fee on the child transaction helps to get the parent transaction confirmed.
This method is particularly useful when an initial transaction (the "parent") has been broadcast with a fee too low to be attractive for miners to confirm quickly. CPFP leverages the fact that miners confirm transactions on a per-byte basis and prioritize those with higher fees.
If you haven't used RBF but your wallet supports manually increasing fees, you can try this option.
Some wallets allow you to send the same transaction with a higher fee, which can encourage miners to prioritize it.
This is the most convenient way if your wallet supports it.
There are Bitcoin accelerator services that can speed up the confirmation of your transaction by submitting it directly to mining pools.
These are known as transaction accelerators and might require an additional fee.
A Bitcoin accelerator is a service designed to expedite the confirmation of Bitcoin transactions, especially during times of network congestion. Network congestion can lead to delays in transaction confirmations, causing inconvenience for users needing quick processing.
Bitcoin accelerators come in both free and paid variants.
Free version may result in longer wait times due to the precedence given to paid transactions. While users can submit their transactions to these services, prompt processing isn't guaranteed.
On the contrary, paid accelerators offer a more reliable solution for users seeking expedited transaction times. By paying a fee, users can ensure their transaction is given priority, resulting in faster inclusion in a mined block.
We will include a tag in the article section below which is free or paid.
Disclaimer: The ALEX Lab Foundation is a community driven decentralized platform that does not endorse the safety or security of using any of the below listed marketplaces. The ALEX Lab Foundation is in not associated with or sponsored by any of the below listed websites/accelerators.The below results are for educational purposes only, drawn from search engine results and users much do their own research. Cryptocurrencies such as Bitcoin, are highly risky assets, and there is no guarantee of security/gains. Any of the websites listed below could potentially suffer a hack / exploit / technical difficulties that can result in a partial or total loss of user funds. Participate at your own risk.
The Binance BTC Transaction Accelerator is a service provided by Binance Pool in collaboration with other leading mining pools. This service is designed to expedite the confirmation of Bitcoin transactions, particularly useful during times of network congestion.
Binance also collaborates with various mining pools ensuring a broad reach and efficiency in accelerating transactions. If a transaction is confirmed by a pool other than Binance Pool, it could be one of these partner pools.
ViaBTC's Transaction Accelerator collaborates with several mainstream mining pools, offering both free and paid options to speed up confirmations. The free service is available for up to 100 transactions per hour, catering to transactions smaller than 0.5 KB and with a fee rate of at least 0.0001 BTC/KB.
The paid service, accepting BTC, BCH, or LTC for fees, ensures the prioritization of transactions. This accelerator is particularly useful when network congestion or low miner fees delay confirmations. However, it's important to note that it does not support "double spent" transactions and has specific limitations for free submissions.
BitAccelerate is a free service that rebroadcasts unconfirmed Bitcoin transactions via 10 Bitcoin nodes to facilitate faster confirmations. Users can resubmit their stuck transactions every 6 hours until confirmed, and the service allows periodic status checks without requiring sign-up or sign-in.
Unlike other services, BitAccelerate is free, sustained by ads and donations, and does not require payment or sell user data. Additionally, they offer a Bitcoin Fee Estimator to help users find optimal fees for future transactions, reducing the need for acceleration
The 360 Bitcoin Accelerator provides both free and premium services to expedite the confirmation of unconfirmed transactions. The free option operates by rebroadcasting transactions to the network, increasing the likelihood of them being picked up by mining pools for faster confirmation.
There's no need for users to register or sign up to use this service. For those seeking even quicker confirmations, a premium service is available at a cost of $25, leveraging trusted Bitcoin mining pool partners.
Users can simply find their transaction ID using a block explorer, paste it into the accelerator’s form, and initiate the acceleration process. This service is particularly beneficial if a transaction has been unconfirmed for over 60 minutes, indicating a longer-than-usual confirmation time due to network congestion or low fees.
BTC Nitro provides a solution for slow or stuck transactions, especially in cases of network congestion or low mining fees. It operates by submitting transactions directly to a network of mining partners, ensuring a faster confirmation process.
For a flat fee of $25 in Bitcoin, users can expect a 24-hour turnaround for their transaction confirmation, backed by a money-back guarantee.
The service emphasizes user privacy, requiring only the transaction ID, and offers optional email updates for premium service users. Unlike some accelerators that merely rebroadcast transactions, BTC Nitro actively works to get transactions confirmed, standing out with its simple, predictable pricing.
TXA provides a service designed to expedite cryptocurrency transaction confirmations, particularly useful in scenarios of network congestion or when low transaction fees are set. This service ensures miners prioritize your transaction for quicker confirmation.
TXA is recommended under Bitcoin.com (https://www.bitcoin.com/bitcoin-transaction-accelerator/)
The confirmation time after using TXA varies based on factors like network traffic and mining pool participation. Although it aims to speed up the process, exact confirmation times can't be guaranteed. Transactions are usually confirmed in the next few blocks, but this depends on mining resources and network status. Once a transaction acceleration request is made, it cannot be canceled, but there is a refund policy if the acceleration fails within 24 hours
The Coinsamba Bitcoin Transaction Accelerator offers a service to reduce the waiting time for BTC transaction processing.
However, the website doesn't provide detailed information about how this accelerator works, its specific features, or any associated costs. For a comprehensive understanding of their service, it would be advisable to contact Coinsamba directly or explore their website further.