![]() These services are run by miners themselves, and you interact with them directly, and for a fee, you can get your transaction confirmed. Transaction Accelerators are external services that you can use to speed up your transactions. The steps for implementation usually vary across wallets, so check the guidelines for the one you are using to be sure your wallet supports CPFP and how they have set it up in the wallet UI. It’s important to remember that with the CPFP method it requires a wallet that supports the functionality, and you also need to enable the feature before making the transaction. Both transactions must confirm the option to work, and miners usually include them into the block if the cost is high enough. When you use the CPFP method, you’re creating a new transaction (Child) using the funds of the delayed one (parent) and then resending it with a much higher fee. Unlike the Replace-By-Fee method that works for delayed sent payments, the Child Pays for Parent option clears received transactions. It usually appears in a checkbox on the Tools menu.Ĭheck the “Use Replace-By-Fee” option to enable the functionality, and if you cannot find it check in with the community or team around that wallet to ensure you have the correct version of the software running. ![]() You must also enable the feature before making a transaction if your wallet allows it. The method allows you to replace your old transaction with a new one with a higher miner’s fee.Īlthough many Bitcoin wallets support the RBF functionality, others do not so first check if your wallet supports this feature before setting it up, or you will have to migrate your seed phrase to a new wallet. ![]() Replace By Fee or RBF is another way you can try to gain attention to your UTXO and have it cleared from the mempool. While some use this method to reduce fees and are willing to wait, others use the same method to increase fees so that they can be included in the next block. There are a number of wallets in the market that allow you to set custom transaction fees to bitcoin while transacting. If you are okay with paying above the median cost, open up your wallet and set a custom fee above that cost when broadcasting the transaction. The simplest way to speed up a transaction fee is to boot up a block explorer and check the current fee for a transaction. If, however, you don’t have that luxury and time is of the essence, then here are a few options you can explore. That way, you can have your transaction processed within the next block or two, and you need not deviate from your current bitcoin transfer process. If you do feel uncomfortable with any of the options, you may want to pick certain times to use the bitcoin network, like over the weekends when block space might not be so in demand. In extreme cases, it can go days before you receive the confirmation.įortunately, there are several ways to speed up this process, but they range in how technical and involved you need to be to get it done. If you have ever made payments using the bitcoin network, you may have noticed how long it takes for the network to confirm transactions, depending on how long your transaction sits in the mempool it can be picked up in 10 minutes or much longer.
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