Jan 13 2017
Either you have received or sent the bitcoins you might have frequently seen the bitcoin transactions getting no confirmation in a block. We see this problem mostly when user sent the bitcoin with very low fee for miners. However you may be to the opposite direction like you are buying bitcoin. You can change the Fee and select Bit Higher Fee to get your bitcoin transactions confirm fast.
You might have heard about MIN_RELAY_TX_FEE (Minimum Fee for bitcoin transaction to get relayed by node). Let’s say that is 0.0001 so if your transaction has fee less than this 0.0001 still there are chances that your transaction will confirm but take a time, but if your fee is less than this, your transaction may not get relayed in a node and get delay for a long time. Let’s make it simple for you to understand how you can get bitcoin fast transaction confirmations.
Well bitcoin wallets are only use to send, receive and store bitcoins, all wallet providers like Blockchain.info has absolutely no control over the confirmation process, and cannot expedite transactions. This is always dependent upon the bitcoin network of miners, which they are not a part of.
So if your transaction is getting no confirmation there is nothing blockchain can do for you, you have to wait for the transaction confirmation.
How to get fast Bitcoin confirmation with blockchain?
You can choose to set high fee while sending bitcoin with blockchain wallet, with this you are giving high fee to get your transaction to be relayed by many nodes asap, this will help you to get your confirmation fast in bitcoin network.
- Login to your blockchain.info wallet
- Click on “Send” Button at wallet home page
- Past bitcoin address in “To” and Enter Bitcoin value which you want to send
- Than at the bottom of that popup click on “Advance Send“
- The popup will expend from bottom now see “Transaction fee” increase the fee as much you can afford, and as much fast you wanted your transaction to confirm fast.
- Than click on send, That all !
follow below screen shots to set high fee.
What if Bitcoin transaction is getting no confirmation?
If days are gone and your transaction is still unconfirmed than the transaction will eventually be accepted into a block and will be confirmed soon or this transaction will get cancelled and the sender Bitcoin balance will remain same (Sender will get refund). Because a bitcoin transaction get rejected by the bitcoin network the same same bitcoin value will remain in your account after rejections.
Will it show any refund transaction?
There will be no further return/reverse transaction show in your wallet because your transaction never went successfully, so it is like remaining in your account.