Are you starring at your computer screen wondering why you see “unconfirmed” next to your latest Bitcoin transaction? Well, the blockchain isn't broken; it could be the transaction fee.
are two excellent resources for estimating the average time it will take to complete a BTC transaction or transfer.
When many users use Bitcoin, the block size approaches its limit, resulting in a crowded Bitcoin network. As a result, certain transactions are held up while Bitcoin transaction confirmation is obtained. These Bitcoin users must pay higher miner fees and/or employ SegWit transactions to speed up the process.
A Bitcoin transaction cannot be reversed once it has been confirmed. But, can you cancel unconfirmed Bitcoin transactions? Yes, unconfirmed BTC transactions can be canceled if the blockchain does not approve a Bitcoin transaction within 24 hours. It is considered unconfirmed until at least three miners do not confirm every transaction via the mining process. If you don’t get a confirmation within this time, you can cancel your transaction.
Your Bitcoin wallet, on the other hand, might not support the RBF Protocol. As a result, check first to see if this is something your wallet will allow you to do. When sending Bitcoin, you can choose this option to ensure that you can utilize it if necessary.
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