The number bitcoin update stuck transactions on the Bitcoin network has steadily increased over the years. This means more blocks are filling up. Ready to start building Dapps? Dive deep into blockchain development.
Is Bitcoin a Good Investment? Miners typically pick the transactions that pay the most fees and include these in their blocks first. If the transaction is outbid again, it has to wait until the next block. This can lead to a suboptimal user experience. Transactions with too low a fee can take hours or even days to confirm, and sometimes never confirm at all.
But here is what you can do today to keep your own transaction from getting stuck. For the first years of Bitcoin’s existence, most wallets added fixed fees to outgoing transactions: typically, 0. Since miners had spare space in their blocks anyways, they normally included these transactions in the first block they mined. In fact, transactions with lower fees or even no fee at all were often included as well. With the increased competition for block space, a fixed 0. While even a low fee transaction will probably confirm eventually, it can take a while. If you want to have your transaction confirmed faster, the obvious solution is to include a higher fee.
If you need the payment to go through in the next block or two, you need to pay a higher fee. These days, most wallets support dynamic fees. Based on data from the Bitcoin network, these wallets automatically include a fee that is estimated to have a transaction included in the next block, or maybe in one of the first blocks after that. Some wallets also let you choose the fee priority. Again, higher fees let your transactions confirm faster, lower fees could make it take a bit longer.
If transactions from your wallet are often delayed during peak hours, and you have no option to adjust to higher priority fees, your wallet is most likely outdated. Check if there is an update available, or switch to a new wallet. If you do switch to a new wallet, you of course need to transfer funds from your old wallet to your new wallet. If you’re not in a rush and don’t mind paying the fee, you can just send it from your old wallet to the new wallet through the Bitcoin network. It will probably arrive eventually — even if the fee is low. If you are in a rush, some wallets allow you to export your private keys or the private key seed, and then import them into the new wallet.