Quick Answer There can be several reasons why your deposit status is "pending": the bitcoin transaction fee is too small or the transaction amount is large and you have to wait for enough confirmations from the Bitcoin network. May 21, · Unlike transactions on the blockchain, bitcoin purchases on exchanges can be pending indefinitely. That is because it is up to the exchange to decide when they are going to accept your payment. The best thing to do with a bitcoin purchase stuck in a pending state is to reach out to the exchange you boguht the bitcoin on and ask them why. Oct 23, · In fact, the main reason Bitcoin Cash was created was to address the Bitcoin block size, which limits the amount of transactions Bitcoin can process with each block. This in turn generated a very long queue of pending transactions, resulting in extremely high transaction fees.
My bitcoin is pendingHow to Fix Pending Bitcoin Transactions ( Updated)
In response, the nodes or the merchant can choose to either accept the transaction or not. If you are an Electrum wallet user, since electrum 2. You can mark a transaction as final when increasing the fee, doing this will make you unable to increase the fee again. If it is, then make sure that the transaction properly propagated through the network by checking block explorers like blockchain.
If the transaction has already been relayed then unless you set the opt-in rbf flag you will have to wait it out. The transaction will either get picked up by a mining pool and confirm, or it will simply drop out of existence and the coins would effectively return to you.
If you liked this article follow us on Twitter themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news. Mark is a 24 year old cryptocurrency entrepreneur. He was introduced to Bitcoin in and has been involved with it ever since.
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Is there an easy method you are able to remove me from that service? Many thanks! This is my 1st comment here so I just wanted to give a quick shout out and tell you I truly enjoy reading through your articles. The different colors represent different fee-levels. Blue is for transactions with satoshis per byte, green for , and so on as per the legend on the left.
As you might expect, the higher the fee, the quicker it will be processed. Every transaction has to be checked and confirmed by the computers that maintain a full copy of the Bitcoin blockchain. They do this by verifying your transaction against the history of the blockchain. This is a computationally-intensive process, and one of the major features that gives the Bitcoin network its strength. Nodes - also called miners - are compensated for this work with the fees that every sender must pay to send a transaction.
Once the nodes are satisfied that your transaction is legitimate, it is accepted into a block and broadcast on the network. At this point, your transaction has one confirmation. As other nodes pick up the block and verify it, the number of confirmations will increase. No waiting for checks to clear, no chargebacks, no account freezes, no minimum balance, no maximum balance, worldwide access, always open, no waiting for business hours to make transactions, no waiting for an account to be approved before transacting, open an account in a few seconds, as easy as email, no bank account needed, extremely poor people can use it, extremely wealthy people can use it, no printing press, no hyper-inflation, no debt limit votes, no bank bailouts, completely voluntary.
This sounds like the best payment system in the world! There are a number of reasons your transaction may be unconfirmed. Each transaction takes the same amount of hash power to confirm, regardless of size. This can create a bottleneck at times of high congestion, where not even small transactions can sneak through. Fluctuating network hash power can influence this, too. When a disequilibrium occurs, prices change to rebalance the network. For example, some recent research uncovered one reason for recurring spikes in network congestion and subsequent spikes in transaction fees.
This was an inadvertent effect of BitMex processing all withdrawals at the same time each day. They have since announced that they will begin batching transactions, which spreads them out across the day and reduces congestion. The lower the fee, the less incentive miners have to verify your transaction. As you saw above in the snapshot of the Mempool, the bulk of pending transactions are green and blue, i.
There is little incentive for miners to process these when they could be expending their hash power on more lucrative transactions. It looks something like this:. This is what an unconfirmed transaction looks like. You can see that it is not included in any block, but is still in the Mempool.
If we compare the fee paid for this transaction If you have crypto on Coinbase that you want to withdraw to another wallet or sent to someone else, you may be wondering how long it takes. If your transaction is stuck, you have a few options. The first - and the most boring - is to simply wait. Even with a very low fee, it is very likely that your transaction will eventually be processed.
If you really want to get your transaction through as quickly as possible, two strategies you can use are:. The Replace By Fee method is the simplest and most reliable way of pushing through a stuck transaction. It involves rebroadcasting the unconfirmed transaction again, but this time with a higher fee. This works as long as the unconfirmed transaction really is unconfirmed, i. This way, the double-spend problem is avoided.