How to Bump a Transaction in the Bitcoin Network

To address this, let’s explore what to do if a Bitcoin transaction is stuck and review three main ways to speed up its processing.

1. Contacting a Mining Pool with Acceleration Services

This method involves reaching out to a mining pool that offers transaction acceleration services. You pay the pool an additional fee (essentially a “tip”), and they ensure your transaction is included in the next block they mine. Notable accelerators include ViaBTC, which is widely recognized for its efficiency in speeding up Bitcoin transactions.

Pros:

• Simplicity. The user doesn’t need to interact directly with the network—the pool handles everything.

Cons:

• High cost. Pools typically charge a significant fee for this service.
• Uncertain timing. There’s no guarantee when the pool will mine a block.

If you’re wondering, How much does it cost to speed up a Bitcoin transaction?, note that the fee depends on the specific pool and the network’s current congestion. Therefore, using a mining pool for transaction confirmation may not always be the most economical option.

2. Replace By Fee (RBF)

This method involves resending the transaction with a higher fee. You create a new transaction using the same inputs but modified outputs, specifying a higher fee to incentivize miners.

Pros:

• Cost-efficiency. The user sets the desired fee, often cheaper than paying a mining pool.

Cons:

• Hash change. The new transaction will have a different hash, which can confuse both the sender and receiver.
• Potential confusion for the receiver. Explorers may show both transactions as “pending,” which could mislead less experienced users.
• Limited support. Not all Bitcoin-like networks support RBF.

If you’re looking for ways to make a Bitcoin transaction faster while keeping costs low, RBF can be a viable solution, but it requires careful handling.

3. Child Pays For Parent (CPFP)

This method involves creating a new transaction that spends one of the outputs of the stuck transaction. A higher fee is set on the new transaction to incentivize miners to include the entire chain of transactions in a block.

Pros:

• No hash change. This is convenient for both the sender and receiver.
• Universal compatibility. This method works across all Bitcoin-like networks.
• Simplicity. There’s no need to modify the original transaction; just create a new one.

Cons:

• Additional costs. Another transaction is sent to the network, increasing the total fees.
• Chain risk. If the new fee is still insufficient, both transactions may remain unconfirmed.
• Change requirement. The original transaction must include an unspent output (change) that can be used for this method.

If you’re asking, How to push a transaction through the blockchain?, CPFP is a universal method applicable in most cases. However, it comes with additional costs.

What to Do if a Bitcoin Transaction Is Not Confirming?

Depending on your situation, you can choose the most suitable method for acceleration. If the issue is low Bitcoin fees, try RBF or CPFP to make your transaction more attractive to miners. You can also contact a mining pool for transaction confirmation, but be prepared for higher costs. Notable services like ViaBTC offer reliable options for transaction acceleration.

There are various ways to confirm Bitcoin transactions, and choosing the right method depends on your level of expertise and willingness to pay extra fees. Don’t hesitate to experiment with network tools to optimize your transactions.