Accidentally made a Bitcoin transaction below recommended tx fees? Received a payment where it’s parents transaction is not confirmed? No matter which is your case, we all will experience at least once or actually lots of time that our Bitcoin is “stuck”. So, in this post, I’m going to tell you a simple way to try to solve that problem!
Considering paid options
Wait a minute… I’m lazy to do it myself and willing to pay for a faster confirmation!
- BTC.com Transaction Accelerator (Pricey, only accept BCH payment.)
- Louis’s accelerating services (Recommended, cheaper & accept BTC.)
There’s a few reason to choose paid accelerating services, one main reason is they can get your transaction to be confirmed in a shorter time frame, why? Paid options are usually offered by parties with accessibility to mining pool, so what they do is, they manually put your TXID in front of others, regardless of your transaction fees. (Usually, it’s sorting by the fees included in the transaction, that’s why higher fee transactions have faster confirmation time.)
The main difference between paid option and broadcasting yourself is that paid option is miners offer to put your TX in the next block they mined for a certain charge, whereas broadcasting yourself can be understood as re-acknowledge the miners not to forget about your transaction, usually work best if your transaction somehow drops out from mempool.
Which is right for me?
It depends on your situation if there’s a lot of unconfirmed transactions and the fees you included in your transaction is significantly below average (check here: unconfirmed transactions and the average fees), then I suggest go with paid acceleration services. If your transaction has a fair fee included, but it doesn’t confirm by miners for a long time, there’s a chance it has dropped out from the mempool, all you need to do is to rebroadcast it.
Guide: Rebroadcast Transaction
Let’s assume that I sent 1.5 Bitcoin to an online merchant for my new phone, below is the TXID (Transaction hash), we’ll be using it as an example in the guide.
1, Getting Hex of the transaction
Blockchain.info provided a simple way to obtain the hex format of your transaction. By adding ?format=hex behind the link of blockchain explorer URL, we can get hex format of the transaction, like so:
2, Broadcast the transaction!
Broadcasting the transaction is easy, you just have to copy the hex and paste into the broadcasting service site and broadcast it!
Here’s a list that I use to broadcast my transaction, you don’t need to use each of them.
Prevention of stuck transaction
To avoid having a stuck transaction in future, you can follow simple guideline from below:
- Don’t spend unconfirmed transaction, make sure Bitcoin you received is confirmed before spending it. (Some wallet doesn’t let you spend unconfirmed transaction by default)
- Check here for median fee included in transactions. Now simply avoid sending your Bitcoin with a fee significantly below the median. (Use above median fees for urgent transactions!)