Dealing with Bitcoin transaction confirmation shouldn’t be all technical.
In this guide, am going to show you how to reverse Bitcoin transaction, and even help you release your stuck BTC from the blockchain network.
Having series of Bitcoin cryptocurrency investment world.can cause serious slack, and pain in the
During Bitcoin transfer from one wallet to another, you can make the mistake of choosing a very low miner price as transaction fee.
This in can actually cause the Bitcoin transaction time to increase, and also not confirmed by miners which causes delay aside network congestion.
Bitcoin transaction confirmation
A Bitcoin transaction is said to be unconfirmed when it over-stays entire BTC block-time, and without being confirmed after 2 hours.
However, when this happens you will need to cancel the bitcoin transaction entirely, and right here, am to show you how to do it.
Before we continue, you should know that for every BTC transaction to be fully confirmed, it have from 3-12 confirmations.
Otherwise, there’s a problem in the blockchain confirmation, and may lead to unconfirmed transaction.
If you have unconfirmed Bitcoin transaction for 24 hours, you can check the progress, as tracking it is easy using a Blockchain explorer.
Just check the blockchain Bitcoin transactions chart to see if there’s any unconfirmed transaction.
Fortunately, there’s a way you can actually try and see if a refund technique can be used to revive, or speed up the transaction confirmation.
The Bitcoin block transaction, though, is a bit complicated for most trials.
I guess you already know what pressing ‘undo’ buttons can do in computers, and that’s exactly what we’ll do to the unconfirmed transaction during this process.
Many things can keep your Bitcoin transaction unconfirmed for more than 24 hours, but below are most popularly known reasons:
- The transaction operation is still in progress
- The transaction fee you chose was too low, or not included entirely
- The stalled transaction remained unconfirmed for more than 24 hours.
How to reverse Bitcoin transaction
Firstly, before reversing Bitcoin unconfirmed transactions, make sure it doesn’t have confirmations yet, or this trick may not work as expected.
You must be sure of the confirmation state, even when the
However, if you’re sure there’s no confirmation yet, use the transaction ID to track the transaction node to see the progressive details.
On the next page, you will see information about your transaction, including the of confirmations (if any).
If the number of confirmation is greater than Zero, then you have to wait until it completes the transaction, as there’s no way to reverse the Bitcoin transaction.
Cancelling BTC transaction confirmation
Cancellation of Bitcoin transaction confirmation is possible, but can only be done with the following ways as stated below:
- Replace by Fee (RBF Protocol)
- Higher fee Double-Spend transaction
Few wallets supports the RBF protocol – making it possible for you to rebroadcast bitcoin transaction with higher fee (i.e. miner Fee).
This will get your bitcoin transaction cancelled.
To use this particular feature in a wallet that supports it, you have to select it in the option as you’re initially sending out the Bitcoin.
In case you’re not able to use RBF, you can still cancel the transaction by a process known as double spending with a higher transaction fee.
To do double spending, you will have to make a new transaction to yourself with the exact equal amount of the original transaction that got stuck in the blockchain.
This time, make sure that the transaction fee is high enough to get the transaction confirmed by the miners.
You may need another crypto wallet that allows such feature for the transaction to be rebroadcasts to the miners for confirmation.
The blockchain is designed in such a way that crypto transactions are irreversible, even when they’re not showing on the explorer chart.
It’s advisable not to change the Bitcoin transaction fee setting in most wallets, as choosing lower miner fee can lead to unconfirmed transaction.
Always use a cryptocurrency wallet that automatically selects transaction fee to avoid such situation, where your Bitcoin transaction gets stuck for hours.
I recommend transferring your Bitcoin investments from online exchange wallet to an offline crypto wallet to avoid lose due to theft.
You should purchase a hardware wallet with Heuristic Deterministic feature, which allows it to store crypto assets without internet connection.