How can I accelerate bitcoin transaction by paying?

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  • Sawyer
    SBR Hall of Famer
    • 06-01-09
    • 7714

    #1
    How can I accelerate bitcoin transaction by paying?
    I tried free services like bitaccelerate but it doesn't seem to work.

    I had made a transfer from blockchain to another user. Since it's morning, priority max fee was very low like 0,12€. It happened 2-3 hours and transaction still remains unconfirmed. Is there a way/option that let me pay 4-5 USD and speed up the transaction?

    Thanks.
  • ClimbSomeRocks
    SBR MVP
    • 11-04-09
    • 1081

    #2
    There's two options. Replace By Fee (RBF) and Child Pays For Parent (CPFP). Replace by fee is BIP 125, so if blockchain wallet supports it, you can do it. (I don't think it does). For the future, you may want to consider a better mobile wallet. Blockchain was my original wallet, I now use Samourai and Mycelium for mobile. Samourai for sure offers BIP 125. You may also be able do "double spend the funds" - You're not actually double spending, but rather getting the new transaction to confirm first, voiding the old one.

    Here's a link that'll explain it: https://bitcoin.stackexchange.com/qu...lockchain-info

    Or a youtube video if that suits you better: https://www.youtube.com/watch?v=ycq7O48aPvQ


    The friend you sent to could do CPFP. Which basically allows him to use some of the incoming funds to "bump" the transaction higher in the mempool.
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    • ClimbSomeRocks
      SBR MVP
      • 11-04-09
      • 1081

      #3
      Moral of the story is that if time is a constraint, using a better wallet than blockchain will allow you to manually set the fee. You search about bitcoin fee estimators. I'm unsure which is best, but the tools in the mycelium wallet or the samourai wallet will help you in the future. Samourai also offers some privacy features (keep in mind BTC is NOT ANONYMOUS)
      Comment
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