Zebpay is reliable for Bitcoin transactions
From Rich Apodaca | Updated October 31, 2017.
A Bitcoin transaction cannot be confirmed or "get stuck" for many reasons. Stuck transactions can be confirmed after a few days, but sometimes waiting isn't an option. Fortunately, many stuck transactions can only be cleared using a web browser. This article shows how.
The procedure described here should not be used by beginners attempting to delete a deadlocked transaction of significant value. This can lead to loss of money.
This article describes a convenient technique for creating and deleting a stalled transaction, but it requires practice and understanding to use this technique. To get the most of it, you should follow the article as described and invest only a small amount.
If any step describes a concept that doesn't make sense, find a way to understand it. Leave a comment at the end of the article. Ask a knowledgeable friend. Ask a question to BitcoinBeginners, Bitcoin Subreddit or Bitcoin Stack Exchange. Whatever happens, make sure you understand the high-level procedure outlined here before using it to delete a high-value transaction.
For purposes of demonstration, this guide instructs you to enter a private key on a live web form. An attacker can intercept this information and steal funds. In general, private keys should only be handled in a secure computing environment. Given the small amounts associated with this demo, the risk is small. A description of a safer alternative appears before the conclusions of this post.
When should this method be used?
You can use the method described here to clear a stuck transaction if you are in control of one or more of its exits. If you do not control at least one outlet, the network will not be able to take the necessary steps.
Fortunately, in many situations, you control at least one issue. If you are the payee, you can, by definition, control at least one exit. But even a payer controls an expense in many transactions because he has to collect changes.
If your wallet supports Child-Pays-for-Parent (CPFP), the method described here may be less convenient and less secure. Even if your wallet supports Replacement-by-Fee (RBF) and you've marked a pegged transaction as replaceable, the approach outlined here is likely more expensive and less secure than poking the fee over your wallet.
In other words, use the method here if a transaction is stuck, you own at least one expense, a replacement fee is not an option, and your wallet doesn't support a child paying for parents.
Why transactions get stuck.
The most common reason for a stalled transaction is that they are bearing a fee that has been underestimated.
Bitcoin transaction fees can be difficult to understand because they touch many concepts. One important number to keep in mind is the fee density of your transaction. The charge density (d) is calculated by dividing the transaction charge (f, in satoshis) by its size (s, in bytes):
In the early days of Bitcoin, fees were a negligible fraction of miner's revenue. Today things are very different. Fees make up an increasingly large part of total sales, so miners try to optimize the fees they collect from each block.
Pending transactions are selected by first sorting them in reverse order of charge density. The top transaction is removed from the list and added to a candidate block. This step is repeated until the block is full. At this point, any remaining transactions must wait for the next block to become candidates for inclusion.
Most of the blocks are completely filled today, which means that some or even most of the transactions are lagging behind. As a first approximation, miners do not consider the current waiting time of a transaction. This means that newer transactions can cut to the top of the line if they pay a higher fee density than yours.
The technique we're going to use to clear the stalled transaction is known as Child Pays for Parent (CPFP). Recall that Bitcoin is an electronic cash system in which users exchange value by transferring ownership of digital tokens. These tokens are called either "Coins" or "Outputs" depending on the context. A transaction mediates the transmission that remains incomplete as long as a transaction is blocked.
Fortunately, a miner will consider not only the fees of an outstanding transaction, but also the fees borne by children.
Child-pays-for-parent. Alice pays Bob in a transaction with an insufficient fee (left). Bob clears the transaction with a child who pays for both himself and the parent (right). The above diagram is part of a visual language.
For example, imagine Alice Bob pays 5 mBTC with a fee of 0.125 mBTC (12,500 satoshis). The transaction size is 250 bytes, which results in a charge density of 50 satosis / byte. The feed fee. The market fee set by com is 150 satosis / byte. Bob's incoming transaction is blocked because Alice's fee is 1/3 the market fee.
Bob can clear the transaction by spending one of his expenses with a transaction that pays not only for himself (the child) but also for the original (the parent).
Imagine that Bob's child transaction, like the father, is 250 bytes in size. The total size of parent and child is therefore 500 bytes. The total fee to be paid by the child transaction can be found using the following equation:
Here f c is the fee to be paid by the child, d is the current market fee density, b is the length of both transactions in bytes and f p is the fee already paid by the parent.
The market fee density (d) is 150 satosis / byte. The combined size of both transactions (b) is 500 bytes. The fee paid by Alice's original transaction (fp) is 12,500 satosis. Hence, the fee that Bob's child transaction must bear is 62,500 satoshis (150 satoshis / byte & times; 500 bytes - 12,500 satosis) or 0.625 mBTC. Bob publishes this transaction, which results in both he and his parents being confirmed in the next block.
Create a stucco transaction.
The best time to learn how to clear a stalled transaction is before it gets critical. This section describes how to put a low-valued transaction on limbus so that it can later be deleted. Users who are only interested in clearing a stalled transaction should still read this section as it describes the tool to clear the stalled transaction.
Stucco transactions are easiest to create during times of high transaction volume. One way to determine if this condition is met is to use a fee monitoring tool such as measurementfee.com.
Appraisal fairy. com. To create a blocked transaction, aim for a charge density that results in a confirmation time of 144 blocks (24 hours) or more.
Start by creating three paper wallets. The first serves as a source and the second serves as a destination for a parent transaction with a non-competitive rate density. The third will serve as the target for a child transaction that pays for themselves and their parents. This can be done by opening a browser tab and loading bit address. Click the Paper Wallet tab and generate three unencrypted addresses with no graphic.
Three wallets. The deposit address (above) receives an initial deposit with a market fee. The second address (middle) receives payment from the first, but with a non-competitive fee (e.g. 1 satoshi / byte). The third address (below) receives a coin with a fee that pays for itself and the stuck parent transaction.
First, you initiate a payment of 0.002 into the first wallet with a competitive fee. Wait for at least one confirmation.
Next, create a blocked transaction by using the second wallet from the start using the browser-based Coinb utility. in pay. Navigate to the website and select Transaction from the New menu. In the first address field, paste the address of the first wallet, then click Load. In the second address field, paste the address of the second wallet. Adjust the amount to receive a fee of 386 satoshis (฿ 0.00199614). Your signed transaction will be approximately 193 bytes in size. Their fee therefore corresponds to a density of approx. 2 satosis / byte.
Create a stucco transaction. The first wallet address pays the second with a non-competitive fee of two satosis / byte.
Click Submit when you're ready. Coinbin will present your unsigned transaction in hexadecimal form. Copy the text to the clipboard.
Unprocessed Transaction Bytes An unsigned transaction in hex format provided by Coinbin. Select and copy the text to your system clipboard.
First check your transaction. Scroll to the top of the Coinbin page and click the Verify tab. Paste the contents of the clipboard into the text field and click Submit. Coinbin will display the details of your transaction. Pay close attention to the Expenses section. Make sure the address matches the wallet address of your "Stuck Parent" and that the amount matches your intended payment.
Signing a transaction Coinbin will sign a private key and an unsigned transaction. Copy the signed transaction.
When you're happy with the unsigned transaction, sign it. Scroll to the top of the Coinbin page and click the Sign tab. Paste your raw transaction into the text box below. Then copy the private key from your wallet deposit address and paste it into the text field above. Click Submit. Coinbin generates a signed transaction in a new text field. Copy the text to your system clipboard.
Finally, publish your signed transaction. At the top of the Coinbin page, click the Broadcast tab. Paste your signed transaction into the text box and click Submit. Coinbin displays your transaction ID ("txid") which you can use to track the status of your transaction.
Trading bloc. A useful block explorer that shows the charge density in the Charge / Size field.
Use a block explorer like Tradeblock to prove that your transaction is blocked ("Unconfirmed") and paste your Transaction ID into the text box at the top of the page. Tradeblock is especially useful as it shows the charge density under the heading "Size / Fe" in satoshis / bytes. Your transaction should have a charge density of approximately 2 satosis / bytes. If things went according to plan, your transaction would go unconfirmed for hours.
Delete a stucco transaction.
Use Coinbin to create a child transaction that will issue your unconfirmed payment. The procedure is almost identical to the procedure described above for creating a fixed parent transaction. From the New menu, choose Transaction. Enter the address with the payment in the first text field and click on Load. Even though your transaction is unconfirmed, Coinbin should display the value of the pending payment. In the second text field, enter the address with which you would like to receive your deleted payment.
Choose a payment amount that has a fee large enough to cover both the current transaction and the stuck parent. Use the formula introduced above to guide you:
For example, if both transactions have an input and an output, their combined size (b) is about 382 bytes (2 x 193 bytes). Your parent transaction has already paid 382 satosis (fp). If the market fee density is currently 141 satosis / byte then you will have to pay 53,480 satosis or 0.53480 mBTC.
Child Transaction This transaction involves a fee high enough to pay both yourself and your parents.
Choose a payment amount that leaves a reasonable fee, then click Submit. You may receive a high charge warning. Click “OK, I have it!” To continue. Coinbin creates an unsigned transaction that is encoded in hex format. Copy it to your system clipboard.
Next, review your transaction. Select Verify at the top of the Coinbin page. Paste your unsigned transaction into the text box.
After checking your payment address and amount, sign your transaction. Click the Sign In tab. Paste your unsigned transaction in the text field below. In the text box above, paste the private key that controls your wallet address for Stuck Parent. Make sure you are using the correct private key. Using the wrong private key will not generate an error at this point, but rather if you try to publish the transaction. Click Submit to sign the transaction. Copy the text from the "Signed Transaction" field.
Finally, publish your transaction. At the top of Coinbin, click the Broadcast tab. Paste your signed transaction into the text field. Click Submit. Coinbin responds by displaying your new transaction ("txid").
Use a block explorer to monitor child and parent confirmation. If all went well, both should confirm within the next block or two.
The above procedure has been tested and found to work as described. Note, however, that charge densities will fluctuate over time. sometimes quite sharp. The fees listed here may be out of date if your transaction is blocked. Charge densities can change even during the time it takes to read this post. Make sure that your child transaction pays a sufficiently high fee or that it is also blocked.
Nodes have limited capacity to store outstanding transactions. When there is no more space available, transactions are evicted in the reverse order of charge density. Therefore, a parent transaction that pays a very low fee may not be available when you try to publish your child transaction. In this case, you will need to republish the parent transaction in addition to publishing the child.
The above procedure makes private keys available on a computer connected to the network. To avoid this insecure procedure, an alternative signature method can be used. It is identical to the original except that the signing step is performed on an offline computer.
Start by making an offline copy of Coinbin. Download the offline bundle by clicking the "Download" link at the bottom of the "Coinbin about" page. Save the archive file on a trusted removable storage device.
To start Coinbin offline, boot into an offline session like Tails. Open your removable media and extract the Coinbin archive. Coinbin can be run offline by referring to the index. html in the folder coinbin-master.
With this setup, transactions can be created online, stored on removable media, signed offline, and then published online. To minimize the risk of getting a malicious copy of Coinbin that redirects payments, transactions can be analyzed and validated independently using a block explorer.For example, blockchain and block cypher can decode and check a transaction before it is published.
Clearing a stalled transaction isn't difficult with the right tools and practice. This article shows how to use a procedure that requires only a web browser. As a reminder, CPFP can be used to clear a stuck Bitcoin transaction using the following procedure:
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Get it through App Store Read this post in our app! Is there any way to undo transactions with a "too low" code? Fee?
Let's say we reach a state where only miners accept the chargeable transactions. Also assume that someone created a transaction using an old / odd customer who allowed them not to send any charges.
If so, what would happen to the transaction? Could it be reversed? Would the coins be lost forever?
I have successfully used the method described here to delete a transaction that went nowhere because of an under-charge. In short, the process is as follows:
Configure Linux computers with db4.8-util and bitcointools. Ubuntu works fine.
Run the following command in your data folder:
Open tx. txt with the text editor. Find the transaction in question. Should look like:
Reverse the 12a75d48a002ab920. Worth, you get something like 92ab02a0485da712. You don't have to reverse the entire line, just a few hexadecimal values from the beginning. You need to look for it in the database dump.
Dump the database with the following command:
Using the text editor, open the dump file and look for the 92ab02a0485da712 line that you found earlier. There will be two lines - key and value, you need to delete both. Save the file.
Import the database again using the following command:
If everything was ok, the wallet2.dat will have a database with no transaction in question.
Of course, all of this only works if the transaction was never accepted by the network, which is likely the case if you've already waited a day and nothing happens. There is no way to reverse a transaction that has already been accepted by the network. I've tried this technique twice and it worked well both times.
The transaction would have no effect. A transaction that is not accepted by the network will not affect the ability to dispense coins. The person whose coins were affected could simply delete this transaction from their own database. You don't have to roll back the transaction as it was never tied into the blockchain anyway.
It is generally assumed that a customer is charging a fee at this point. Most customers now charge a fee unless you start them with the no-fee flag.
I suppose anyone could write their own client or use a client that has it re-enabled, but that's really on their own mind and the best bet then would be to mine until they get a block and add their transaction to the block. That could take a couple of years, but hey, they wanted a free transaction.
Why is my Bitcoin transaction expiring for so long? - Bitcoin fees for dummies.
Last updated on December 8, 2017 at 1:19 pm.
If you're reading this post, I'm assuming that you, like many others, sent a Bitcoin transaction and were kind of confused why it was still listed as "Unconfirmed" or "Pending" after a few hours.
I mean, should Bitcoin transactions be correct right away?
In this post I want to explain in a very simple way how a Bitcoin transaction works and why the fee you attach to each transaction plays a crucial role in how long the transaction takes to go through the network .
Here's what happens when you send bitcoins to someone.
Whenever you send bitcoins to someone, the transaction goes through various computers running the bitcoin protocol around the world to ensure that the transaction is valid. Once the transaction is verified, it "waits" within the mempool (i.e. in some sort of "pending state").
It's basically waiting to be picked up by a Bitcoin miner and included in a block of the transaction on the blockchain. Until it is picked up, this is considered an "Inconfirmed Transaction" or "Pending Transaction". A new transaction block is added to the blockchain on average every 10 minutes.
Since there have been so many transactions recently due to the rise in prices and a block can only contain a limited number of transactions, not all transactions are selected immediately. So you have to wait a certain amount of time for a miner to decide to choose your transaction from all those lying around in the mempool.
Once your transaction has been added to the block, it will receive its first confirmation and is no longer pending. After another transaction block is added, it gets another confirmation and so on ... there is a short video that explains this:
How can you make sure that your transaction is included in the next block?
Easy. By adding a sufficient mining fee to it. You will see miners getting paid for their work by collecting the fees for the various transactions. Of course, they would prefer to include the transactions with the highest fees first. If your fee is high enough - your transaction will be processed faster.
How can you tell what the correct fee is?
Fees are calculated based on the size of the transaction. Every transaction has a size, just like a file size. The size depends on a lot of factors that I won't go into for now. The fastest and cheapest transaction fee is currently 60 satosis / byte. For example, if your transaction is 257 bytes, you will have to pay 257 * 60 = 15,420 satoshis as the transaction fee to be included in the next block.
Now you are probably asking "How do I calculate my transaction size?"
You can't, at least not without a thorough understanding of how Bitcoin works. Let your wallet do that for you. Most wallets today will either automatically add the required fee to get the transaction confirmed as soon as possible, or you can choose from a variety of fees to match the requested confirmation time (e.g. fast, medium, slow).
However, since I didn't want to let you down, I decided to give you an overview of how the most popular wallets handle their fees:
Coinbase - Coinbase pays the miners' fees (usually 0.0003 BTC) for external transactions to ensure that these transactions spread quickly across the Bitcoin network. For very small transaction amounts, you may be asked to pay the transaction / miner fee. (Source)
Blockchain. info - The wallet implements a dynamic fee structure. Dynamic charges capture changes in network volume and increase or decrease transaction charges accordingly. This means that the same transaction may require a higher fee during network congestion, or a lower fee if sent during a period of decreased activity. If you set a custom fee, a warning will appear if a custom fee is deemed unnecessarily high or dangerously low. (Source)
Electrum - Provides the ability to set dynamic fees (similar to Blockchain. Info) or to set your own fee via the tools - & gt; Preference tab. (Source)
Greenaddress - GreenAddress is the first Bitcoin wallet to include a replacement fee. It allows users to increase the fees for their transactions and increase the likelihood that a miner will add a transaction to a block.
A click on the "bump fee" tab opens a mini menu. How quickly the transaction should be confirmed is shown above the menu. The menu allowed me to increase the fee: times 1.5, times 2 or times 3.
If it is expected that a transaction in the first available block will not be closed because the fee is too low, the mini-menu gives users the option to include a fee large enough to complete the transaction in the next two or three or six blocks. (Source)
MyCelium - Mycelium gives you some control over the charge. Under Settings / Miner Fee you can choose Standard, Economic or Priority for (I think) 0.1mBTC, 0.01mBTC, or 0.5mBTC per mB. (Source)
Bitcoin QT - Bitcoin Core will use floating fees. Based on past transaction data, the floating fees roughly correspond to the fees required to get into the "mth" block from now on. Bitcoin Core will cap the fees. Bitcoin Core never creates transactions that are smaller than the current minimum fee. Finally, a user can set the minimum fee rate for all transactions. (Source)
TREZOR fees are automatically calculated for you by the myTREZOR wallet. (Source)
There is a very helpful resource made by 21.co that shows how many satoshis / bytes you have to pay to be included in the upcoming blocks. Here is an example of the current situation on the Bitcoin network:
For each satoshi / byte category, you can see the number of unconfirmed transactions versus the number of transactions that went through. For example, 15,405 transactions with a charge of 11-20 satoshis / byte went through the system in the last 3 hours, as opposed to 1533 waiting to be confirmed.
On the right hand side you can see the estimated number of block confirmations / minutes you will have to wait for your transaction to complete.
What happens to transactions that are not always confirmed?
Basically, transactions stay in "limbo" (i.e. the mempool) until they are in a block. However, if a transaction lingers in the mempool too long, the various computers that contain it (bitcoin nodes) can simply delete it from their system. In this case the transaction will be canceled.
Some wallets may try to retransmit an expired transaction and therefore it will stay in the mempool for a long time until a miner decides to take pity on your soul and lock it in :)
VIA BTC offers a transaction accelerator service.
Only recently, VIABTC (one of the largest Bitcoin mining pools) started offering a new transaction accelerator service. The Delayed Transaction Transaction Accelerator allows users to submit any TXID (Transaction ID) to ViaBTC with a minimum charge of 0.0001BTC / KB. The pool will then prioritize to include the TX in the next block if it can do so at no additional cost. A maximum of 100 transmitted TXs can be accelerated every hour.
Important: Transactions are received on a first come, first served basis. So try to get your emails in at the beginning of each hour to get the queue before it gets full. I hope this clears things up a little. The next time, before sending a Bitcoin transaction, make sure to add the appropriate fee according to the wallet you are using.
If you have any other questions or insights about Bitcoin fees, feel free to leave them in the comments section.
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688 responses to "why is my bitcoin transaction taking so long? - bitcoin fees for dummies"
I got a Btc from Mercatox to Coss yesterday. io sent and it doesn't show i didn't know anything about the importance of the transaction costs. How can I cancel this? or pay an additional fee?
I have two unconfirmed transactions on my wallet (bitcoinwallet.com). I am wondering if this wallet will be resent or if it will cancel the transactions after a while.
I have no idea. They would have to report their support and ask.
Hi Steve, please help me look up my bitcoin transaction and see if there is anything you can do for me. It's been unconfirmed for more than a month. Fine under the transaction ID. The delay is due to very low transaction fees.
My wallet does not have a date directory. I use a blockchain wallet. Is there anything else I can do?
Many Thanks. I will try your suggestions and then get back to how it went. Thanks again.
Can you please watch me too?
It's confirmed, congratulations. In the future, use a SegWit-enabled wallet to send transactions. This not only reduces the fees by around half, but also reduces the traffic over the Bitcoin network and thus lowers the fees for everyone.
I sent 0.093 BTC to a wallet about 7 hours ago, on the block explorer I can see it had 55 confirmations.
1. How long will it take to reach me?
2. If it takes more than an additional 7 hours, how can I speed up EIL5?
Thanks, and I bet you pull your hair out and have to repeat, sorry, but if you help me I'll be happy to send you a BTC your way!
Here is the Block Explorer info:
Should I expect this to be processed within the next 4 hours?
Congratulations, it's confirmed. In the future, you might consider a SegWit-enabled wallet for your transactions as this will significantly reduce the size of your transaction and therefore save you money.
Thank you steve i think this is the number you wanted b100a690a5e327b9c978dede6410c69ac69e4d2004f29c07b671aab9e0a01465.
I have a deposit in COIN BASE that stayed for 5 days. How can I change that and get the bitcoin back on the blockchain?
Please check your wallet for the transaction id (txid) associated with the transaction and I will look into it. There is no easy way to cancel a transaction after it has been transferred.
my transaction is not confirm, plz help what to do.
I SEND THE BTC FROM HITBTC WEBSITE TO MY ZEBPAY WALLET ...
I TRIED ALL UR SUGGESTIONS BUT GUIDED HELP.
Well, if your transaction is not confirmed within another day, you should contact HitBTC. If you have a transaction ID from them, you could try having a child pays as a parent as a fix. Since I believe HitBTC will have used a high fee (almost all exchanges do to avoid stuck Tx) I think it will probably confirm in time ... Maybe it already has by the time I answer you? If not, your first option is to contact HitBTC and get their help.
It was more than 4 days .. I evn sent a message to hitbtc, they said they are looking into the matter.
I am too worried now. Can you do something about it You can calculate your fees.
Well, it seems to me that the transaction has been confirmed and the coins have been sent to your address.
What I can see from the TXID is that the TX confirmed 2018-01-03 @ 23:05:01. I can see 0.17641235 BTC now exists in address 3AnaOYMqbS87Exg1R2PKLaE2CDHDReGQay.
How much should there be in the address?
I have a bigger problem I think (don't you?)
I use bitcoin core, as an overall nebie I set the transaction fee to the minimum (which was 0.000001 per byte). My transaction has been unconfirmed since 11dec. Why do I think my problem is bigger? Nighter blockchain. info or confirmtx. com can see my transaction id. It is normal? What should I do? In the Bitcoin core, both options of increasing a fee and abandoning a transaction are grayed out.
Here is my transaction ID: fdc99d757a7a70f5ee1f0d392c1d8dd95fcf04855871bbb183704b986f0c07b2.
What To Do If Your Bitcoin Transaction Is "Blocked"
The number of transactions on the Bitcoin network has steadily increased over the years. This means that more blocks will be filled. And since not all transactions can be immediately recorded in the blockchain, residues form in the miners' "mempools" (a kind of "transaction queue"). ")
Miners typically choose the transactions that pay the most fees and put those in their blocks first. Transactions involving lower fees are "outbid" in what is known as the "fee market" and remain with the mining companies until a new block is found. If the transaction is outbid again, it has to wait until the next block.
This can lead to a sub-optimal user experience. Under-charged transactions can take hours or even days to confirm and sometimes they are not confirmed at all.
But what you can do today to avoid getting stuck in your own transaction.
Before you send it.
In the first few years of Bitcoin's existence, most wallets added fixed fees for outgoing transactions: typically 0.1 mBTC. Since the miners had free space in their blocks anyway, they usually included these transactions in the first block they mined. (In fact, transactions with lower fees or even no fee were often included.)
With the increased competition for block space, a fixed fee of 0.1 mBTC is often not enough to include a transaction in the next block; it is outbid by transactions that involve higher fees. While even a low-fee transaction is likely to confirm, it can take a while.
Try increasing the fee.
If you want to get your transaction confirmed faster, it makes sense to consider a higher fee.
If your wallet has an insufficient fee (by default), you may be able to adjust the fee manually, either as part of the wallet's settings or when submitting a transaction. (Or both.)
Sites like 21.co monitor the network and suggest how much a fee per byte should include and how quickly you can expect your transactions to be confirmed at different fee levels.
If you need to pay in the next block or two, you'll have to pay a higher fee. For less urgent payments, you can include a lower fee. it just takes a bit longer to confirm.
Check to see if there are dynamic charges in your wallet.
Nowadays, most wallets support dynamic charging. Based on data from the Bitcoin network, these wallets automatically include a fee that estimates that a transaction is included in the next block or possibly in one of the first blocks after that.
Some wallets also allow you to choose the priority of charges. Higher fees allow your transactions to be confirmed faster, while lower fees may take a little longer.
If transactions from your wallet are frequently delayed at peak times and you have no way of getting used to higher priority fees, your wallet is likely to be out of date. Check if there is an update available or switch to a new wallet.
Consider switching wallets.
Obviously, when you switch to a new wallet, you will need to transfer money from your old wallet to your new wallet. If you are in no rush and do not want to pay the fee, you can simply send it from your old wallet to the new wallet via the bitcoin network. It will likely arrive at some point - even if the fee is low.
If you are in a rush, some wallets allow you to export your private keys or private key set and then import them into the new wallet. This does not require a transaction on the Bitcoin network. You can start the transaction straight away from the new wallet.
After you send it.
If you've already sent a transaction and it's blocked, in some cases that transaction can be made to skip the queue.
The easiest way to queue your transaction is to use an option called Opt-In Replace-by-Fee (Opt-In RBF). This allows you to resend the same transaction, but with a higher fee.
In most cases, if the same transaction is re-sent over the network, but with a higher fee, the network will reject the new transaction. Bitcoin nodes typically consider this new transaction a double expense and therefore will not accept or forward it.
However, when you send a transaction with Opt-In RBF, you are essentially telling the network that you can re-send the same transaction later, but at a higher fee. Hence, most of the Bitcoin nodes accept the new transaction in favor of the older one. Allow the new transaction to skip the queue.
Whether your new transaction will be included in the next block depends on which mines are blocked next: Not all miners support the opt-in RBF. However, enough miners support the option that your transaction will likely be included in one of the next blocks.
Opt-In RBF is currently supported by two wallets: Electrum and GreenAddress. Depending on the wallet, you may have to activate the opt-in RBF in the settings menu before sending the (first) transaction.
Child pays for parent.
If your wallet doesn't support the opt-in RBF, things get a little more complex.
Child Paid For Parents (CPFP) can do the trick. When applying CPFP, miners do not necessarily choose the transactions that include the most fees, but instead choose a series of transactions that have the most combined fees. Without getting into too many technical details, most outgoing transactions not only send bitcoins to the recipient, but also send "change" back to you. You can output this change in a next transaction.
For some wallets, you can output this change even if it has not yet been confirmed. So you can send this change to yourself in a new transaction. This time, make sure to include a fee high enough to offset the original low transaction fee. A miner should take the whole series of transactions and confirm them all at once.
If your wallet does not allow you to choose exactly which bitcoins to spend - that is, you cannot specifically spend the unconfirmed change - you can try to spend all the funds in the wallet for yourself; This should include the change.
Like Opt-In RBF, not all miners currently support CPFP. But do enough of them to likely have your transaction confirmed in one of the next few blocks.
If neither opt-in RBF nor CPFP are an option, technically you can still try to transfer the original transaction for a higher fee. This is typically referred to as a "full replacement charge" which some miners accept. Publicly available wallets do not currently support this as an option.
Otherwise, all you have to do is wait for the transaction to be confirmed or for the bitcoins to reappear in your wallet. It's important to note that until a transaction is confirmed, the bitcoins are technically still in your wallet - it's just that often it doesn't appear that way. The bitcoins do not literally "hang" in the network and cannot be lost.
Update: Since the completion of this article, the mining pool ViaBTC has been offering a "transaction accelerator". If your transaction is blocked and has at least 0.1 mBTC charge per kilobyte, you can send the transaction ID to ViaBTC and the pool will prioritize it over other transactions. Since ViaBTC controls about seven percent of the hash power on the Bitcoin network, there's a good chance it will find a block within a few hours. However, the service is limited to 100 transactions per hour.
As the recipient.
Of course, a transaction can also get stuck when you are on the receiving end.
If your wallet allows you to issue unconfirmed transactions, this can also be resolved using CPFP. As mentioned earlier, you can spend the unconfirmed incoming bitcoins back for yourself, including a fee high enough to offset the low-fee initial transaction. Typically, if the new fee is sufficient, the transaction should be confirmed within a few blocks.
The only other option is to ask the sender if they used Opt-In RBF. In this case, he can resend the transaction with a higher fee.
Update: Of course, the ViaBTC transaction accelerator (see above) also works for incoming transactions.
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We're always looking for talented writers to join our team. If you have an article that you would like to have published, please contact.
10 best BitCoin wallets with low transaction fees.
Bitcoin is different from what you know and use every day. Before you start using Bitcoin for any serious transaction, be sure to read what you need to know and take appropriate steps to protect your wallet. Always remember that it is your responsibility to choose your wallet carefully and use best practices to protect your money. A Bitcoin wallet is a collection of private keys, but it can also refer to client software that is used to manage these keys and conduct transactions on the Bitcoin network.
↓ 01 - BitCoin core | Windows | macOS | Linux | Ubuntu.
Bitcoin Core is programmed to decide which block chain contains valid transactions. Bitcoin Core users only accept transactions for that blockchain, thus forming the Bitcoin blockchain that everyone else wants to use. It is these users who keep Bitcoin decentralized. They individually run their own Bitcoin Core full nodes, and each of those full nodes separately follows the exact same rules to decide which block chain is valid.
Full Validation - Bitcoin Core ensures that any blocks and transactions it accepts are valid. Not only does this increase your security, it also prevents miners and banks from taking control of Bitcoin. Better data protection - Bitcoin Core offers exclusive data protection features that make it difficult for anyone to link you to your transactions. Better security comes at a cost - Bitcoin Core uses more resources than other wallets, but it's still convenient to run on most computers and internet connections. Better user interface - Bitcoin Core Wallet has features that most other wallets don't. However, if you don't need them, you can use several other wallets on Bitcoin Core without losing the security and privacy benefits of Bitcoin Core. Support The network - Bitcoin Core supports other peers. This isn't as useful as keeping Bitcoin decentralized, but it's an easy way for broadband users to contribute to less well connected users.
↓ 02 - MultiBit [discontinued] | Windows | macOS | Linux.
With MultiBit you can set up your Bitcoin wallet quickly and easily. Once installed, a wizard will guide you through the process of creating your wallet and securing it. In no time, you'll be ready to participate in the Bitcoin economy. You control your wallet and your money: they are encrypted on your computer and never with a third party.
Using MultiBit with KeepKey provides an extra layer of security for your bitcoins. KeepKey is a USB device that stores and secures your bitcoins. When you entrust KeepKey with your money, every Bitcoin transaction you make must be reviewed and approved via the OLED display and confirmation button. It is now almost impossible for virtual attackers such as malware or viruses to steal your valuable bitcoins.
↓ 03 - Armory | Windows | macOS | Linux | Raspberry Pi.
Armory is the most secure and comprehensive solution for users and institutions to generate and store private bitcoins. That means users never have to trust the Arsenal team. Satoshi would be proud! Users are equipped with multiple encrypted Bitcoin wallets and permanent one-time paper backups. Armory pioneered cold stores and distributed multi-signature. Bitcoin Cold Storage is a system for securely storing bitcoins on an offline computer with a full air gap.
The Armory team is very experienced in cryptography and private key ceremonies. For example, you worked with Verisign to develop an innovative identity verification specification for online trust building. At Armory, we strive to constantly improve the best Bitcoin wallet with new security features.
↓ 04 - Mycelium Wallet | Android | iOS.
With the Mycelium Bitcoin Wallet you can send and receive Bitcoins with your mobile phone. The unparalleled cold store functionality allows you to 100% secure your money until you are ready to spend. It works for your paper wallets, private keys, master seeds:
100% control over your private keys, they never leave your device when you export them No blockchain to download, install and run in seconds HD enabled - Manage multiple accounts and never again addresses (BIP32, BIP44) Ultra fast connection to the Bitcoin network through our super-node-only addresses and private key import for secure cooling storage integration Secure your wallet with a PIN Compatible with other Bitcoin services through bitcoin: uri handling support for BIP38 keys Find other people with Bitcoins to trade with personally our local trader function.
↓ 05 - Wirex | Android | iOS.
Now everyone can get the most out of digital and traditional money, the easy way! Get online banking accounts, Bitcoin debit cards issued worldwide, cheap transfers and much more in one place.
Safe and practical - individual cloud wallet that is connected to your Wirex debit card and secured with multi-signature and two-step authentication. Easy Access - Manage all your accounts, currencies, past transactions and debit cards from your smartphone, 24/7. Total freedom - send and receive money from more than 130 countries, with almost unlimited possibilities. Switch between traditional and digital currencies with one tap.
↓ 06 - Xapo | Android | iOS.
The Xapo Wallet offers a way to manage your money when you want and where you want. All you need is a click of a button, send an email, or swipe your Xapo Debit Card. The Xapo iOS App is a mobile Bitcoin Wallet and Vault that combines convenience and industry-leading security for managing your Bitcoins and sending money to friends or family. Just scan a QR code or enter an email address, name, or wallet / vault address to send money anywhere in the world.
All transactions are synchronized in real time across all of your devices and protected by a strong bank-level security protocol recently dubbed the "Fort Knox of Bitcoin Storage" by the Wall Street Journal.
Xapo Bitcoin Wallet: Works like a checking account to manage daily expenses Xapo Bitcoin Vault: The only fully insured Bitcoin storage solution on the market Send and receive Bitcoins in two clicks Two-factor authentication Earn bits by sharing Xapo on your social networks Check the price of Bitcoin and other statistics in real time. No network transaction fees.
↓ 07 - BlockChain | Windows | macOS | Android | iOS.
Why use blockchain? We are not a bank. We cannot see your balance, see your transactions, or make payments on your behalf. You retain full ownership of your money. Simple - We make Bitcoin safe, easy, and fun to use. You can trade with anyone in the world right away. Cross-platform - desktop, iOS - and Android apps allow you to access your Bitcoin wallet from any device, anytime, anywhere. Global - 20+ currency conversion rates including JPY, RUB, SGD, USD, CNY, EUR, GDP and many more.25+ Languages Safe & Secure - Our step-by-step security center helps you secure your funds and protect them from unauthorized access. Supported - Should you need any help, our team is there for you. Sophisticated - hierarchically deterministic addresses. Dynamic transaction fees Monitoring and spending of watch-only addresses.
↓ 08 - BitGo | Windows | macOS | Android | iOS.
Typical Bitcoin wallets have a single private key that makes your Bitcoin vulnerable to theft and loss. Our multi-signature technology issues three keys to your wallet, two of which are required to send Bitcoin. Unlike most other Bitcoin companies, BitGo cannot access your Bitcoin. We only have one key, which is not enough to act on your behalf.
You control a second key, and a third key is stored offline as a backup. If a single key is compromised, your Bitcoin cannot be stolen. This makes our wallet practically hack-safe. BitGo requires two-factor authentication and uses enterprise-class security measures to ensure the full protection of your Bitcoin. Read more technical details in the BitGo CEO's whitepaper on Using P2SH (BIP 16) to create a multi-signature wallet. A diagram from the whitepaper comparing Bitcoin wallet architectures is shown below.
↓ 09 - GreenAddress | Android | iOS.
The safer bitcoin wallet that puts you in control. We don't let you choose between security and convenience. And we don't endanger your privacy. Our per-transaction two-factor authentication, multi-signature and deterministic wallet give you unparalleled control over your transactions. And we never store your private keys, not even encrypted. At the same time, we make it trivial to view and transfer your funds. Take control of your future now, with GreenAddress.
↓ 10 - coin exchange | Windows | macOS | Android | iOS.
Coinbase is the world's most popular way to buy and sell Bitcoin and Ethereum. It is also the most popular Bitcoin and Ethereum wallet in the world. They make it easy to safely buy, use, store, and accept Bitcoin and Ethereum. Coinbase for iOS was designed from the ground up to deliver the best possible digital money experience on mobile. Additional features include:
Send and request Bitcoin and Ether Bitcoin price charts, Bitcoin price tickers and price alarms Track Bitcoin and Ether prices everywhere Check the account balance, transaction history and transaction details for all your accounts at a glance Bitcoin and Ether via E- Mail, QR code, with zero transaction fees (terms and conditions apply, not actually zero.) Bank-level security means your bitcoins and ethers are safe Provide a code to protect the app to disable your phone's access if it's lost or remote Realtime and historical Bitcoin and Ether price charts are stolen.
69 comments on & ldquo; 10 best BitCoin wallets with low transaction fees & rdquo;
Xapos has fees. At some point I won't get anything.
Yup the same things happen to me too.
Coinbase fee 0.0005 now. Poloniex fee is 0.0001.
Poloniex connection zip code.
Poloniex now has 0.0005.
Xapo has fees for inbound and outbound transactions that includes external wallets. Otherwise there are no fees for transactions from one Xapo account to another Xapo account.
The same goes for Abra. The fees for withdrawing third party wallets range from 0.0029 to 0.0039 bitcoin. That's around $ 50.00 per month. We're talking about a very ridiculously high "network charge". I really only bet on other coins. I think I trust a company that works with Amex.
I used different wallets, I chose wallet https: // apibtc. com / because it works on different platforms, it's easy to use and reliable. There is a support service around the clock.
How much fees per transaction. Please answer me?
Xapo costs more than $ 10 for a small fee if you want to get up a high level so you can pinch off faster, it's even more that they only recently started doing it.
Blockchain charged me 55% fee, it's insane.
Yes, I get a 30% fee, that pissed me off.
That's why BitCoin cannot replace currency, imagine you want to buy a cup of coffee with BitCoin and the transaction fee is 30% on the coffee? Madness.
Please is there a free mining site with no transaction fee?
Please give me a link where I can mine without a transaction fee because I am new to this platform and I don't have bitcoin on my wallet to pay mining fee.
If you want to start mining today, just set up a quick account, it's completely free, look, thank me later: D.
How do I start promoting Bitcoin? Unfortunately, it gets too expensive (utility bills and hardware) to mine a single coin, probably 1 year on your simple desktop. You are better off buying a bitcoin from one of the many BitCoin exchanges.
The safest easiest autopilot for bitcoin mining.
Xapo is charging insanely now, last time I saw it cost me 0.0008, it's too much, not bitcoin that high, I earn from faucet and it happened, what's the benefit of my small earnings for big fee.
Mycelium fees can be insanely high at times.
This is how they make money, how about BitCoin Cash?
Bitcoin Cash (BCH / BCC) transaction fee is very low. This is what Bitcoin should (but is not) be if it is to be used by the masses. Acknowledgments are quick too.
In addition to Coinomi for Android, I also use Electron Cash Windows Wallet. The latter is powerful. A learning curve at the beginning, but anyone with average intelligence would find out.
Bitcoin fees are getting ridiculous, how on earth is the rest of the world going to accept a currency that can cost you 15% plus to send a payment ...... It's game over.
In all honesty, it was never meant to be a form of payment or a substitute for money. It's nothing more than speculation, possibly the biggest internet bubble ever.
In fact, it was effectively the counterculture currency for years ... until you guys came and broke it.
coinbase charged me a transaction fee that was higher than the actual transaction I made and it's insane. How we trade in such a currency does not make economic sense.
It should never be a currency, just a speculative asset (or liability).
Still, the article says it has no fees. They wanted to charge me $ 7 to send $ 10. Ridiculous. I'm just a newbie experimenting with small transactions. I doubt I'll ever use bitcoin mainstream
That's why I always say BitCoin and all of these cryptocurrencies are speculative bubbles. They claimed they didn't charge any transaction fees, but there would always be hidden fees. It's a matter of time before this bubble collapses, but block chain technology remains and evolves, just like torrenting.
There should only be one miner's fee. This has been said from the start. It is these third party services that are scamming us more.
I want to share some important information about Bitcoin transaction fees with you. Some e-wallet providers offer free internal transactions (e.g. CoinBase to CoinBase), but with external transactions (e.g. CoinBase to Blockchain) blockchain has happened, which means that miners come into play and always charge fees for validating your transaction a transaction fee when you conduct an external transaction, and this fee is not static, but its dynamic meaning changes due to the fluctuation in the price of Bitcoin. You need to keep this in mind before making any transaction. Always check the transaction fee before confirming the transaction.
Well I decided to play a game just to see BTC in action and my understanding was that user transaction costs were zero and the miners made money out of prices so the first minner could enter a new block in the block chain. I wanted to buy $ 1000 but will stick with my game and will warn people not to buy these coins because Bitcoin no longer does what it once said on the box.
I have apibtc. com used.
Luno also high fee.
Very high fees. I tried sending $ 15 to someone (with a wallet outside) and luno charged me $ 7.1 for the transaction.
How is that fair? It seems like the reason Bitcoin was created to prevent governments and banks from taking away our small funds with all those small but consistent transaction fees. All stock exchanges and purses are worse than the banks.
Precisely because of this, the argument that BitCoin will replace fiat currency is just a lie. It's nothing more than a bubble, that doesn't mean you should avoid it or speculate about it. Make money while you can.
It is true now. At this point there is no economic sense in promoting artificial super-inflation. In a real sense, that would be insane and suicidal. Everyone has to let go of it so that it can get back to their normal senses or some other form of online payment like perfectmoney can be introduced by some internet governing bodies and accepted worldwide as an alternative standard for online transactions.
Luno sucks like a vampire! Ncheewwwww!
I know. Luno's transaction fees are extremely high. I found out the hard way.
Take a look at bitcoinfeesapp. com to see what kind of fee you should pay up to the minute mempool terms.
From my experience coinpayments. net a fixed transaction fee which is 0.0002 Btc / transactions. so it is better to stay mi.
yes but the btc / transaction must be the same, but it doesn't cost the money in dollars, if you buy 1tc you can make 5000 transactions and you have 0.0 no matter whether bitcoins worth 1 dollar or 1 trillion dollars, it will be after 5000 transactions be away. If BTC just goes higher and higher people invest with a limited amount of dollars will have fewer and fewer transactions before their money (dollars) is eaten, 1K dollar investment will give 500 transaction fees today to be completely gone and tomorrow if If you buy $ 1k, you may only have 470 transactions before you are all gone.
Miners or Explorers?
Invest as an investor.
Crazy time here. The fees are not high. They're only high if you try to transfer a small amount and pay a minimum transaction fee. Do not use Bitcoin for the parking meter.
Ngan are lost. Cryptocurrency is meant for just the opposite. People pay, don't sit on it.
I was looking for an alternative wallet to avoid the Coinbase and their ridiculous fees and this is clearly a Coinbase affiliate writer. Note the pronoun "we" used in its description. Shame Shame Shame * thing * thing * thing.
the transaction fees are the downfall of the cryptocurrency, the higher bitcoins go up the more money people have to buy, and now I think with the boom of amateurs trying to make some money, the big tanks of the money will make you a lot to sell to them, but the higher value less amateurs can afford, and with fees set in BTW currency, people will lose much of their investment just to cash out. At some point this will no longer push the small investors / amateurs to buy in (because Bitcoin prices are rising) and only leave heavy tankers on the market. You need to have flow in customers in order to sell to those who are willing to meddle.
Hi everyone, I just came across the bitcoin wagon ... so hard to get coins ... anyone could anyone please help with anything.
My account balance is now 0.00 lol ..
Kind hearts please ...
That is why I have believed in base coin coming to eradicate non-fee transaction poverty worldwide ... Wooow ... And price fluctrating not due to user base not market base.
To invest on the coin, reach me at my post.
I have a unique cryptocurrency trading firm for you called "Podret" - a Singapore based company that has been trading since 2012. The minimum withdrawal amount is $ 5. The partners also earn 10% from the direct referral and 5% from the second broker payment. BitCoin is not a Ponzi scheme, hyip or mlm. Secure your wallet with bitcoin, bank deposit or credit card. Podret acts for you and you start earning.
This is all very funny, but you should know that Bitcoin is not for trading ... it is for investing.
Only paid Coinbase for a coffee in the Bitcoin Cafe, the coffee was like $ 4 but the transaction fees were like $ 15 - very expensive cup of coffee for $ 20: D: D: D.
So you paid for Starbucks and you probably got the Walmart branded coffee. Lol. I hate the way things work, why they're still new. Lol.
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How can this post say Coinbase fees zero transaction fee? The other day I tried to rob.
$ 100 to Hashflare and was billed.
Coinbase now has a flat rate for the transfer. Whether you are transferring $ 50 or $ 200, $ 36 was listed for the transfer. I had no choice but to transfer $ 200, but I liked where it was $ 3 per transfer. All newbies who come into this bitcoin business are killing the transfer fees. Bitcoin is only good for illegal gambling and other illegal business. I think that's why it will never die. Plus few guys hold enough to make money. Anyone who acts now will only make a few dollars. Only visit illegal gambling sites, you will get a big bonus for using Bitcoin.
Who knows which Bitcoin wallet charges less transaction fees? for transactions with other Bitcoin wallets.
There is no way to pay a cheaper mining fee. Each of your wallet carriers don't keep the money they ask for mining. The miners will decide to pick up your transaction based on the fee you are willing to pay. Coinbase, for example, chooses the fee to ensure your transfer is picked up. By and large, when there isn't heavy traffic your transaction will be picked up but you will have to pay huge fees. Newbies jumping into Bitcoin have caused this heavy traffic, which has resulted in a significant increase in mining fees. I believe 5 people have over 60% bitcoin in the market. You're making her richer by the minute, from nearly $ 20,000 to now $ 14,000, I said it'll stay around $ 14,000. With China and Korea stubborn, the price of Bitcoin did not decline any further. Bitcoin is still a preferred currency for illegal businesses.
Why does nobody choose Electrum?
I have low transaction fees there. Only 0.0002BTC when the bitcoin rate was $ 16756.
It's probably slower, but it's still broadcasting.
Why is Multibit on this list? Did you take a closer look at the listing or just put a few things on the list?
Multibit is no longer supported and this list is only 6 days old ...
So which ones have the lowest fees? Because according to these comments no one is doing, I'm trying to find a wallet and it's so damn hard, they're either blocked in my country or the fees are insane.
If you have a Coinbase, you can log in to your partner trading site at gdax with the same login details, then switch from Coinbase to Gdax, for free and then for free from gdax. Simplest.
Coinbase GDAX doesn't work in New Zealand.
Just made a purchase with Coinbase. Purchase was $ 61.50, network fee $ 15.00.
OK, so I want to buy some ByteCoin. I put $ 20 in an ATM and it gave me $ 3.22 when the ATM and FreeWallet took their transaction fees. I now find that I don't even have enough to switch to ByteCoin because the minimum transaction fee is more than me.
What's the best way to buy small amounts of cheap coins like ByteCoin? I don't want to invest thousands to hope for millions, I want to invest a few dollars to hopefully make thousands !!
when you want zero fees? use Cobinhood.
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