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

There is absolutely no way that you can cancel a transaction that you have initiated because the blockchain technology is quite rigid as once transactions has been started, they cannot be cancelled. This is the same feature that makes it difficult to hack into it.
It is a good feature, however this could also mean that you would have a transaction that could be sitting in the waiting queue for moths or even years because the transaction fee is too low. They should have an option to change it not yet be confirmed.
 
It depends on the type of crypto currency wallet you use. If you are using luno. After the final stage of the withdrawal or deposit you won't be able to cancel the transaction
Is this only after the final stage? for example if you start a transaction to another wallet, as long as the transaction has not be confirmed or processed, are you able to cancel the transaction and have the funds given back to you.
 
With the wallet I am using, the feature is not there. But like you said, the fee varies based on the coin. But once you have initiated the transaction, it cannot be canceled again or changed.
 
Is this only after the final stage? for example if you start a transaction to another wallet, as long as the transaction has not be confirmed or processed, are you able to cancel the transaction and have the funds given back to you.
Yea the money can be refunded if the transaction couldn't be completed or there is a network error. It might just take a few working days to refund the money back
 
Yea the money can be refunded if the transaction couldn't be completed or there is a network error. It might just take a few working days to refund the money back
This is very good. It is best to wait a few days and have the money refunded back to you than to have a transaction hanging in teh balance and waiting to be confirmed for months on end. I will sure to look into Luno wallet for future transactions.
 
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
Thanks for explaining in a simple way that we can understand, the luno I am using always gives me the privilege to carry on with a transaction or to cancel when you are doing a transaction.
 
In the blockchain or even any cryptocurrency transaction whatsoever, it is impossible to alter a transaction after it has been initiated by the sender. There is nothing you can do about it anymore untill it gets to the target address.
 
In the blockchain or even any cryptocurrency transaction whatsoever, it is impossible to alter a transaction after it has been initiated by the sender. There is nothing you can do about it anymore untill it gets to the target address.
This is a major shortcoming in the crypto community and whilst this may be viewed as a security tactic, it provides less control to the users of the crypto because if there is a mistake in the receiver's address, this is essentially lost funds.
 
Once you tap/click send button, there is no way to cancel a crypto currency transaction. You cannot reverse a crypto currency transaction, this is one of the demerits of crypto currency.
Last year I actually saw a company that stated that they are able to reverse cryptocurrency transactions however upon researching them even more it seems that this was just a false claim that was made by them. I think that it is a very essential addition that needs to be made to the cryptocurrency network in order for people to have more confidence in its utilisation.
 
From all my years trading and transacting in the cryptocurrency, there is no way you are allowed or you can even change a transaction that you have already initiated any longer. Once the transaction is been sent it is final, you can't call it back
 
From all my years trading and transacting in the cryptocurrency, there is no way you are allowed or you can even change a transaction that you have already initiated any longer. Once the transaction is been sent it is final, you can't call it back
I think that this is one of the major shortcomings of the cryptocurrency transactions with them however sometimes it could be to the benefit of the people performing transactions because it ensures that someone cannot recall or cancel their transaction after they have paid for an item.
 
I think one of the best coin in the crypto currency exchange Business is xrp. With the ripple coin you can always transfer any coin with a low fee. This also depends on how much you are transferring though
 
I think one of the best coin in the crypto currency exchange Business is xrp. With the ripple coin you can always transfer any coin with a low fee. This also depends on how much you are transferring though
From what I have seen when it comes to the ripple cryptocurrency it is not actually depending on how much you are sending because the fee generally is negligible. In fact him all the time that I have been using the ripple cryptocurrency I have never had any transaction fee that was more than a single Cent.
 
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
I quite agree with your suggestion. Any wallet that do give opportunity to decide on the status of transaction either to continue or cancel is unarguably consider to be best. Some wallets do not give us this option, it is either you like it or not, you must abide with their transaction fees. Meanwhile, it is this transaction fees that discourage a lot of people from continue with the transaction. Many wallet operators still have a lot to learn as regard matter concerning transaction fees as it is this that will boost their market.
 
You can do that with ethereum in trust wallet if you have sent ethereum with low fees , you can cancel the transaction and sent it with higher fees with another nonce. They have explained it clearly in their FAQ page.I dont think we can do the same with other cryptos or other wallets.
 
This can only happen if you have not click on sent. Most wallet gives you the ability to the transaction fee before you send. So it's left for you to go ahead or not
 
This can only happen if you have not click on sent. Most wallet gives you the ability to the transaction fee before you send. So it's left for you to go ahead or not
I also use a wallet that does this because it will calculate the transaction fee that is necessary in order to ensure that the transaction is confirmed and if you change the fee then it gives you a warning as well. So the users are kept up to date on what the risks are.
 
I also use a wallet that does this because it will calculate the transaction fee that is necessary in order to ensure that the transaction is confirmed and if you change the fee then it gives you a warning as well. So the users are kept up to date on what the risks are.
I think Tron wallet has these option as well. After you have decided on the amount of coin to send it shows you the transaction fee needed for that particular transaction
 

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