What is the process for canceling a pending bitcoin transaction on the blockchain?

3 answers

• Ayhan SalihJul 02, 2024 · a year ago
  To cancel a pending bitcoin transaction on the blockchain, you need to follow these steps: 1. First, you need to locate the transaction ID (TXID) of the pending transaction. This can usually be found in your wallet or transaction history. 2. Once you have the TXID, you can use a blockchain explorer like Blockchair or Blockchain.com to search for the transaction on the blockchain. 3. Once you have located the transaction, check its status. If it is still pending and has not been confirmed by the network, you can proceed with the cancellation process. 4. To cancel the transaction, you will need to create a new transaction with the same inputs as the original transaction but with a higher transaction fee. This will incentivize miners to prioritize your new transaction over the pending one. 5. Broadcast the new transaction to the network using your wallet software or online wallet. 6. Wait for the new transaction to be confirmed by the network. Once it is confirmed, the pending transaction will be effectively canceled.
  1036

  518
• Ma. Christelle JuanicoDec 24, 2022 · 3 years ago
  Canceling a pending bitcoin transaction on the blockchain can be a bit tricky, but here's what you can do: 1. Find the transaction ID (TXID) of the pending transaction. You can usually find this in your wallet or transaction history. 2. Once you have the TXID, use a blockchain explorer like Blockchair or Blockchain.com to search for the transaction on the blockchain. 3. Check the status of the transaction. If it is still pending and hasn't been confirmed, you can proceed with the cancellation process. 4. To cancel the transaction, you'll need to create a new transaction with the same inputs as the original one but with a higher transaction fee. This will incentivize miners to prioritize your new transaction. 5. Broadcast the new transaction to the network using your wallet software or online wallet. 6. Wait for the new transaction to be confirmed. Once it's confirmed, the pending transaction will be canceled.
  928

  310
• Rahul RanaJun 25, 2021 · 4 years ago
  Canceling a pending bitcoin transaction on the blockchain is a process that requires a few steps. Here's what you need to do: 1. Locate the transaction ID (TXID) of the pending transaction. You can find this in your wallet or transaction history. 2. Use a blockchain explorer like Blockchair or Blockchain.com to search for the transaction on the blockchain. 3. Check the status of the transaction. If it's still pending and hasn't been confirmed, you can proceed with canceling it. 4. To cancel the transaction, create a new transaction with the same inputs as the original one but with a higher transaction fee. 5. Broadcast the new transaction to the network using your wallet software or online wallet. 6. Wait for the new transaction to be confirmed. Once it's confirmed, the pending transaction will be canceled.
  824

  206