How to speed up stuck transactions on the Bitcoin network? \ stacker news ~bitcoin

In recent days someone commented on the Cuba Bitcoin Telegram group (which I leave you the link in case you want to interact with Cubans and share experiences: https://t.me/Cuba_Bitcoin), about the transactions that get "stuck" without being confirmed due to the low commissions that were paid at the time of making them.

Well, I did some research on the subject and it's interesting what I've learned:

There are several techniques that can be used to speed up Bitcoin transactions that are stuck due to insufficient fees. One of these is Replace-By-Fee (RBF), which allows senders of an unconfirmed transaction to increase the fee to incentivize miners to confirm it more quickly. To use RBF, you need to have marked the original transaction with a sign indicating that it can be replaced with a higher fee. Not all Bitcoin wallets support RBF, so this option may not be available to all users.

Another technique is Child-Pays-For-Parent (CPFP), which allows recipients of an unconfirmed transaction to increase the transaction fee. This is achieved by creating a new transaction that spends the output of the unconfirmed transaction, but with a higher fee. This new fee applies to the entire set of transactions, incentivizing miners to confirm both the original and new transaction.

In addition, there are transaction acceleration services that will try to include your transaction in the next block that is mined.

One of the most popular is ViaBTC:

https://www.viabtc.com/tools/txaccelerator

It has 2 ways to carry out this action, one free and one paid. The free one allows us to enter our transaction ID every 1 hour.

Needless to say, as it is a third-party service, they do not guarantee that your transaction will be confirmed more quickly and may involve additional risks, our transaction ID will give away (although they do not know who we are), if they will know everything related to said transaction.

The ideal is to use a Wallet that allows the Replace-By-Fee (RBF) or Child-Pays-For-Parent (CPFP) in case we ever find ourselves in trouble, some of these can be Samourai Wallet, Sparrow Wallet, Bitcoin Core, Electrum and BRD.

Have you used transaction acceleration services such as Replace-By-Fee (RBF) or Child-Pays-For-Parent (CPFP), and which wallets do you know that use this option?

Let me know in the comments. I read you and we learn together!

#Bitcoin