No argument required, it’s a known fact that bitcoin is becoming a precious currency day by day and right now it is costing you as much as few ounces of gold. And yet we prefer trading with it, investing in it and using it for all our transaction online and even more. It’s because transactions with bitcoin is easy, low cost and fast. When bitcoin is being publicised as online generation money here is something this generation doesn’t have, time. Time has become a precious commodity than anything. And when you to wait for a transaction to get processed you may get lagging in your schedule. All the increased dealing with bitcoin will make the server reach its block set, this will delay the processing. When you have transaction still to be processed it’s called unconfirmed bitcoin transaction. You can cut the waiting time and process the transaction by taking help from unconfirmed bitcoin transaction accelerator.
Reason for delay
This is how processing a bitcoin transaction works
- Every bitcoin transaction requires minimal fee, you have a choice of choosing the amount you want to pay for the specific transaction. This is called mining fee.
- As bitcoin is continuously in dealing, the bitcoin transaction processing sever always has a set of transactions to choose from to process. This is called mem pool.
- The sever usually picks the transaction with highest mining fee to process first because it’s where they can make their profits.
- So the reason for your unconfirmed bitcoin transaction is may be the low fee you quoted.
What can be done?
When you know the reason for delay you may be thinking if increasing the mining fee, but if that is cost you don’t want to incur and still want to speed the process where is what you can do
-If you are receiving
There isn’t much you can do from your end you can wait for the transaction to confirm or you can ask a miner to confirm it for you.
-If you are sending
You can attempt an Replace-by-fee double speed transaction or You can attempt a child-pays -for-parent transaction, in case you have chance in output.
The best thing to do in this situation is using unconfirmed bitcoin transaction accelerator. You need to provide your bitcoin transaction Id and they can confirm your struck transaction by regeneration.
You can find your transaction ID through the following steps
- Go to any block chain explorer site of your preference in which you can view all the bitcoin payments made on the block chain.
- Enter the to address of your transaction in the search box.
- This brings you list of all the transaction involving the address.
- You can find your transaction by using browser’s find features, just enter amount transferred in the find box.
- You can find the amount, the time of transaction and just opposite you see a set of alphabetical and numerical figures in a grey box. That is your transaction ID.
Now you can just copy it and paste in the transaction accelerator website.