There are many transactions on the Bitcoin network that are taking place and are increasing day by day. This clearly means that there is more number of blocks that are filing up. Remember, not all the transactions can be easily included in the blockchain right away. The miner generally picks up the transactions that pay the most fees and includes these in the blocks first. The transactions which are included lower fees are known to be “Outbid” and are also known as “Fee market” and remain in the miners till you find a new block.
If the transaction is outbid again then you have to wait for the next block to arrive. This specifically can lead to a suboptimal user experience. The transactions with a very less fee can take hours or days to confirm and sometimes you get no confirmation at all. Here in this article, you will get the ways to fix the issues when bitcoin stuck in the blockchain.
Tips and tricks to fix bitcoin stuck in blockchain
There are different ways to fix the bitcoin stuck in Blockchain and these are as follows:
Before you send it For the initial years of Bitcoin’s existence, there were many wallets that added fixed fees to perform the outgoing transactions. With the increase in competition for the block space, there is a fixed 0.1 mBTC fee is often insufficient to have the transaction included in the next block.
Try to increase the fee
If you wish to have the transaction confirmed faster, the obvious solution includes a higher fee. It is important to remember, if your wallet includes the insufficient fee, then you may be able to adjust the fee on your own, and then also you can work on increasing the fee on the money you have invested on.
Just check whether the wallet includes the dynamic fees
Now, most of the wallets support the dynamic fees that are based on data from the bitcoin network and these wallets automatically include a fee that is estimated to have a transaction which is included in the next block. Some of the wallets will let you choose the fee priority. Again the higher fees will let your transactions confirm faster, low fees and it takes a bit longer duration.
You can consider switching wallets
If you switch to the new wallets then you need to transfer the funds from the old wallet to the new or fresh wallet. If you are not in the rush and you do not mind paying the fees, then you can just send it from the old wallet via the Bitcoin network. It will probably arrive even if the fee is low.
Once you have sent it
Remember, if you have already sent a transaction and it gets stuck then the transaction can be made to the “Jump the Queue” option.
Opt-in replace-by –fee
The easiest way to make the transaction jump in the queue is choosing the “Opt-In Replace by fee” option. This thing will let you re-send the same transaction but that too with a higher fee.
Child Pays for Parent
The child paying for the parent may do a trick for you, remember applying for Child pays for a parent do not necessarily pick the transactions that include the most fees but instead picking up a set of transactions that include the combined fees.
By discussing the ways or tips and tricks for fixing up the bitcoin stuck in blockchain issue, we hope that you can now fix the same. However, if you are still unable to perform these then you can visit the official Bitcoin website and get the proper set of instructions and guidelines for the same.