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How to speed up your Bitcoin transaction

how to speed up your bitcoin transaction
How to speed up your bitcoin transactions

Due to high traffic on the Bitcoin blockchain, sending Bitcoin can be a pricy and slow process. Anyone who has been waiting in agony for their Bitcoin to arrive knows this. You don’t want to pay an arm and a leg in fees, and at the same time, you want to see you Bitcoin arrive safely in your wallet.

Stuck transactions are held in a pool called mempool where miners prioritise transaction depending the fees attached to them. If a transaction gets stuck for too long in the mempool, it will return to the original wallet. Paying a higher transaction fee increases your chances to be included in the next block. You can check out Bitcoin fees and estimated time here.

You can see the current mempool statistic here.

This site has a list of unconfirmed transaction on the Bitcoin blockchain.

To find your Bitcoin transaction, you can search for it using Transaction Hash inside a Block explorer.

What is a Transaction ID(TXID)?

Transaction ID is also known as Transaction Hash. This is the ID of a Bitcoin transaction and it is made up of a string of analterable characters that is generated from the information of the specific transaction. You can search for Bitcoin addresses for you transaction at block explorer here.

The Use of Bitcoin Accelerators

To speed up your transaction, you can use a Bitcoin accelarator which sends a request to a mining pool to include your transaction in the next block. There are several Bitcoin accelarator to choose from.

Free Accelarator service.

ViaBTC has both free and paid accelarator service. To use ViaBTC you must know the TXID of your delayed transaction that at least include a fee of 0.0001BTC/KB. ViaBTC supports acceleration of 100 free transactions per hour.

You can resubmit your TXID at next hour if it surpasses the hourly limit. If you want to use the paid acceleration you must sign in to use the service.

The fee will be deducted from your BCH(Bitcoin Cash) account balance. If the balance is insufficient, you will need to deposit to continue. ViaBTC will prioritise the submitted transactions in the next block they mine. You can learn more about ViaBTC here.

BitAccelerate is a free Bitcoin accelerator service. All you have to do is to paste your TXID and click Accelerate. Their service will rebroadcast your transaction via 10 Bitcoin nodes. You can learn more about BitAccelerate here.

Paid Accelarator service.

BTC.COM transaction accelarator is another accelarator service that offers to speed up your Bitcoin transaction. To use this service, enter your TXID and it will calculate the estimated price. This service cooperates with several leading Bitcoin pools. According to their website, using their transaction accelerator can increase the probability of confirming transaction to 75% within 1 hour and to 98% within 4 hours.

How long can a Bitcoin transaction stay unconfirmed?

If you are wondering how long a Bitcoin transaction potentially could stay unconfirmed, you can check out the Bitcoin Fee Calculator here.

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