Is there a way to cancel a transaction if the transaction fee is too low?

[BrolySSJ]

There are some wallets give us the opportunity to change the transaction fee for a specific coin. The one who that I am using is the bitpay wallet, and with this wallet when you are making a transaction in terms of Bitcoin or even any of the other cryptocurrencies that it supports, you are asked to choose the priority of your transaction. Based on the priority of your transaction the transaction fee will also change as well. However, there's also the option that you can choose to customise the transaction fee by yourself in which case you get to choose your own.

However, if you had to choose a transaction fee that is too low then chances are your transaction will sit waiting to be confirmed for a very long time. In this case your transaction may not go through. Is there any way to change the transaction fee after you have started the transaction or is there a way that you can cancel the transaction to start it again?

 

[Prettybabe]

I think I have a clear understanding of what you have said here.

I have a coinomi wallet and I was to send some coins to another wallet from coinomi, it asked for me to choose the priority I wanted. There was also options to customize.

I had to go for the medium priority, because I didn't want a case of waiting too long to receive the coins because I went for low.

But whether the transaction can be cancelled once sent out is what I have no idea about, as I have not being in that situation.

 

[Ifeayomi]

I think yes there are some wallet that gives us opportunity to go canceled a transaction when you see the fee is too high or low. It makes one to determine either to continue with the transaction or not. For me I prefer such wallet allowing one to cancel what you do don't want to carry on with again. It shouldn't be straight away either you like it or not pls let note that there are some wallet that allow just like that to canceled some transaction

 

[GoldenLady]

I have not come across a situation where I need to cancel a transaction due to low gas fees.

I once tried making a research on this, and it was not ready easy to understand. I believe what you mat have to do is to send another transaction that will force the previous one out, or something.

I would be glad if someone can explain this properly.

 

[Zubair]

There are some wallets give us the opportunity to change the transaction fee for a specific coin. The one who that I am using is the bitpay wallet, and with this wallet when you are making a transaction in terms of Bitcoin or even any of the other cryptocurrencies that it supports, you are asked to choose the priority of your transaction. Based on the priority of your transaction the transaction fee will also change as well. However, there's also the option that you can choose to customise the transaction fee by yourself in which case you get to choose your own.

However, if you had to choose a transaction fee that is too low then chances are your transaction will sit waiting to be confirmed for a very long time. In this case your transaction may not go through. Is there any way to change the transaction fee after you have started the transaction or is there a way that you can cancel the transaction to start it again?

Well you gave us a good platform for transportations which I was knew not. But I don't think there would be a process to cancel your transections if they were started exchanging. I would suggest you to make sure first of all that either you want to have a transaction or not? It would help you to keep away from such type of worries which you are facing now.
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Well you gave us a good platform for transectins which I was knew not. But I don't think there would be a process to cancel your transections if they were started exchanging. I would suggest you to make sure first of all that either you want to have a transaction or not? It would help you to keep away from such type of worries which you are facing now.

 

[Sake]

I don't think you can cancel the transaction when it's already on process, not sure about this since i never really got into the point of needing cancel a transfer. But i know someone who does and he wasn't able to.. once you you hit the send that's it.. you need to wait

 

[BrolySSJ]

I think I have a clear understanding of what you have said here.

I have a coinomi wallet and I was to send some coins to another wallet from coinomi, it asked for me to choose the priority I wanted. There was also options to customize.

I had to go for the medium priority, because I didn't want a case of waiting too long to receive the coins because I went for low.

But whether the transaction can be cancelled once sent out is what I have no idea about, as I have not being in that situation.

On the medium priority when it comes to the transaction, how long do it take for your transaction to go through? Especially at this point with many bitcoin transaction is happening at any given point the transaction fees are generally very high, so I was wondering if choosing a medium priority on your transaction affected the payment that you were making in any way?

 

[MarieArie]

The most common cause is making transactions with too low miner fees. While there are any transactions on the network paying miners higher fees, they have no incentive to confirm the ones paying them low fees. Too many transactions being sent worldwide can cause fees to increase, so low-fee transactions have to wait longer. The second most common cause is having previous unconfirmed transactions
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The most common cause is making transactions with too low miner fees. While there are any transactions on the network paying miners higher fees, they have no incentive to confirm the ones paying them low fees. Too many transactions being sent worldwide can cause fees to increase, so low-fee transactions have to wait longer. The second most common cause is having previous unconfirmed transactions

 

[Goodday]

There are some wallets give us the opportunity to change the transaction fee for a specific coin. The one who that I am using is the bitpay wallet, and with this wallet when you are making a transaction in terms of Bitcoin or even any of the other cryptocurrencies that it supports, you are asked to choose the priority of your transaction. Based on the priority of your transaction the transaction fee will also change as well. However, there's also the option that you can choose to customise the transaction fee by yourself in which case you get to choose your own.

However, if you had to choose a transaction fee that is too low then chances are your transaction will sit waiting to be confirmed for a very long time. In this case your transaction may not go through. Is there any way to change the transaction fee after you have started the transaction or is there a way that you can cancel the transaction to start it again?

I have not experienced this situation before but l heard about transactions not going through because of low transaction fee. I have also heard from people that you can cancel such transactions by placing another transaction but l haven't tested it too so you can try and see whether it will work.

 

[Caali]

Wait for the transaction to go through. Most likely there will be free capacity in the network after some hours, some days or a week. In periods with free capacity, even low-fee transactions will pass. Rarely one has to wait longer than the next Sunday evening.

 

[Mave24]

I think once you already clicked the send button, you're transaction will automatically be on process. Maybe there's nothing that you can do and just have to wait. I personally did not experience wanting to cancel a transaction.

 

[Prettybabe]

If I can remember vividly, it didn't ta

On the medium priority when it comes to the transaction, how long do it take for your transaction to go through? Especially at this point with many bitcoin transaction is happening at any given point the transaction fees are generally very high, so I was wondering if choosing a medium priority on your transaction affected the payment that you were making in any way?

On the medium priority when it comes to the transaction, how long do it take for your transaction to go through? Especially at this point with many bitcoin transaction is happening at any given point the transaction fees are generally very high, so I was wondering if choosing a medium priority on your transaction affected the payment that you were making in any way?

If I can remember vividly, it didn't not upto 20mins for the coins to reflect in the other wallet that I sent it to.

And No, my transaction was not affected by the medium priority that I selected. At all......

 

[Patrik]

the only case where i was able to cancel my transaction was back when i had an unverified coinbase account, the transactions for unverified accounts take 72 hours and people have the ability to cancel them

 

[BrolySSJ]

If I can remember vividly, it didn't ta



If I can remember vividly, it didn't not upto 20mins for the coins to reflect in the other wallet that I sent it to.

And No, my transaction was not affected by the medium priority that I selected. At all......

This is not bad at all because I know that some bitcoin transactions actually take a lot longer than this to be able to be confirmed on the receiving side. What was the transaction fee if I may ask in relation to how much you actually were sending to the other party? As a medium priority transaction it will probably be in a middle range of the current transaction price. Can you elaborate a bit more on how much you paid for the transaction in terms of a Dollar value?

 

[WhiteHouse]

In my wallet which i use, which is the luno Wallet if the money/Cryptocurrency is not enough for the whole process of transaction, it won't even allow the transaction in the First place, it will only allow when the money is enough and you meet all requirements.

 

[BrolySSJ]

In my wallet which i use, which is the luno Wallet if the money/Cryptocurrency is not enough for the whole process of transaction, it won't even allow the transaction in the First place, it will only allow when the money is enough and you meet all requirements.

Generally there are som allets that do this as well to ensure that there is enough of funds to make the transactiona dn they ensure that the transaction fee is sufficielty high enough so that there is a reasonaly quick conformation time for your transaction as well. However, in this case it could also be that within the transaction fee there is also a part that has been allocated tot the wallet as an omission fee and perhaps this is the reason why they choose not to allow you to change it?

 

[Kayzzy3]

There are some wallets give us the opportunity to change the transaction fee for a specific coin. The one who that I am using is the bitpay wallet, and with this wallet when you are making a transaction in terms of Bitcoin or even any of the other cryptocurrencies that it supports, you are asked to choose the priority of your transaction. Based on the priority of your transaction the transaction fee will also change as well. However, there's also the option that you can choose to customise the transaction fee by yourself in which case you get to choose your own.

However, if you had to choose a transaction fee that is too low then chances are your transaction will sit waiting to be confirmed for a very long time. In this case your transaction may not go through. Is there any way to change the transaction fee after you have started the transaction or is there a way that you can cancel the transaction to start it again?

That's another disadvantage of looking for platforms with very low transaction fee, but honestly it is the first I have heard that a wallet allows users to select transactions fee for their transactions.

I think I understand the philosophy behind it, the transaction is thrown open for any any miners who is interested to do the transaction.

I advise is that you should cancel it transaction and start all over again.

 

[BrolySSJ]

That's another disadvantage of looking for platforms with very low transaction fee, but honestly it is the first I have heard that a wallet allows users to select transactions fee for their transactions.

I think I understand the philosophy behind it, the transaction is thrown open for any any miners who is interested to do the transaction.

I advise is that you should cancel it transaction and start all over again.

Yes there are wallets that do allow you to do such for example the wallet that I am makign use of is the bitpay wallet. There is a warnign when youa are using this feeature though that it can result in there beign longer confirmation tiems if you have a too low transaction fee that is associated with your transaction. However, the concern that I have is, is there a way that you can cancel a cryptocurrency transaction after you have already implemented it? Do you feel that this is a possibility at the current stage that we are in terms of crypto?

 

[Prettybabe]

This is not bad at all because I know that some bitcoin transactions actually take a lot longer than this to be able to be confirmed on the receiving side. What was the transaction fee if I may ask in relation to how much you actually were sending to the other party? As a medium priority transaction it will probably be in a middle range of the current transaction price. Can you elaborate a bit more on how much you paid for the transaction in terms of a Dollar value?

I can't remember the exact amount I was sending out that time, neither do I remember how much I was charged as a transaction fee. But I can tell you that the fee wasn't high for me. I don't consider the fee high at all.

Why I can't give the exact figure is because this transaction was done on this particular wallet late last year. So I don't have the figures in my head.

 

[BrolySSJ]

I can't remember the exact amount I was sending out that time, neither do I remember how much I was charged as a transaction fee. But I can tell you that the fee wasn't high for me. I don't consider the fee high at all.

Why I can't give the exact figure is because this transaction was done on this particular wallet late last year. So I don't have the figures in my head.

Not a problem. I was just curious as since last year in the latter part of the year to the beginning part of this year, it seems that the transaction fees that I am noticing for any transaction that is less than ten dollars is actually very similar to the amount that I am transacting or even greater than the amount that I am transacting and this for me is quite off-putting when it comes to making a Bitcoin transaction.