Want to know more about Bitcoin Transaction Accelerator?
Well, you are in the right place !!
Imagine that you are a businessman dealing in bitcoins.
You need to pay to another party, and you are using bitcoins because they are a faster mode of payment.
But because you were unaware of the workings of the Bitcoin network blockchain, you sent Bitcoin transactions with meagre fees attached.
On the other hand, your counter-party is waiting and getting frustrated as you have already claimed that you have paid, which is true also, but still, your transaction is stuck, and you’re waiting for your transaction confirmation.
You were unaware that Bitcoin transactions are not instantaneous. They first go to the unconfirmed transactions pool, i.e., the Bitcoin mempool, from where the miners pick these transactions as per the transaction fees attached.
And since your transaction fee is already less, it is less likely that your transaction will be picked soon.
So is there any solution?
The answer is BTC Accelerator…
But what are they?
What Is A Bitcoin Transaction Accelerator?
Bitcoin Transaction Accelerator is an off-chain service that accepts an extra fee to deliberately include a particular transaction in the next Bitcoin (BTC) block so that you can get your transaction accelerated by getting sufficient transaction confirmations.
And no surprise that these BTC transaction accelerator services are run by multiple mainstream mining pools, whose sole intention is to get the block reward and higher block mining fees.
But as you can understand from their workings, these transaction accelerator services are creating an off-chain fee market for the Bitcoin network, which is a useful option to have !!
Useful because, if you remember, during the last excellent crypto bull run of December 2017, the Bitcoin network was processing more than +450,000 transactions per day, which congested the network.
This congestion was mainly because miners were picking transactions in priority of transaction fees. The older transactions with lower fees were stuck from days in the Bitcoin mempool and get your transaction confirmation quickly.
In such cases, you can use Bitcoin transaction accelerators to bump up the fees to get your transaction included in the next block if the current Bitcoin block size reaches to be full or reserved beforehand for other transactions (or, in other words, a crowded BTC network).
That’s why I think you should know about such bitcoin transaction accelerators, just in case you might need one during the next crypto bull run.
Important Note: Bitcoin transaction accelerator service/feature isn’t available for Bitcoin Hardware Wallets, but soon it will be. Currently, it’s only for Software wallets.
|ViaBTC||Free & Paid|
|360 BTC Accelerator||Free|
|Bitcoin Afterburner||Paid Service|
Best Bitcoin (BTC) Transaction Accelerators
These are a few Best Bitcoin Transaction Accelerator Services you can use to speed up your Bitcoin Transaction confirmation quickly even though your transaction fees are low:
ViaBTC started this Bitcoin transaction acceleration service in 2017 to protest against the 1 MB block size.
Since then, the service has been active and prioritises those transactions that have paid an extra fee for accelerating transactions.
ViaBTC’s Transaction Accelerator service is FREE for the community, but they also provide paid accelerator service for exceptional cases such as urgency, meagre transaction fees, etc.
But their free service is limited to 100 FREE acceleration per hour. You must submit your transaction ID (TXID) to use this service. On the other hand, you need to include a fee of 0.0001BTC/KB at least if you use their paid service. And they charge relatively low miner fees than the industry average.
Lastly, the good thing is that you need your BTC TXID in this format ‘073957ae2439ef7eeb8e962460386244f5339098d69cbc534c677716a7ed0528’, which you can get from the Bitcoin Blockchain explorers quickly, and no sign-up is required to accelerate your stuck transaction.
Via BTC comes with two-factor authentication inbuilt, which you can activate for additional security.
BTC.com also runs a Bitcoin transaction accelerator, but it is not their native service; they run it in cooperation with other mining pool services.
As the congestion of the bitcoin network and low service fees often lead to the delay in transaction confirmation, one can always use the transaction accelerator, developed by BTC.com, to speed up the transactions.
Using the BTC.com transaction acceleration service, you can increase the probability of confirming the transaction within 1 hour to 75 %, within 4 hours to 98%.
Also, you need to pay for this service as it is not free, and the fee can vary depending upon network congestion on Bitcoin’s blockchain.
For example, for this BTC transaction ID (ce346e9dca33c8897e5c7410ae4e75e647e9151690c896f4956c94ac44930e5e) the extra fees that you need to pay to accelerate the transaction is around $12 for which you can pay either in fiat currency or digital currencies.
Lastly, to get the fee estimate, you need to sign-up for this service, and the service is not refundable as the acceleration is non-retractable.
Another excellent BTC transaction accelerator is ConfirmTX.
This BTC accelerator allows you to get faster transaction confirmations on your unconfirmed bitcoin transactions and charges $5 for 250+ byte transactions, and all other transactions are processed for free.
Their working style is also pretty much standard, where they push your transactions to multiple pools they are partnered with, and even if you pay 0.01$ fees which is relatively low fees for similar services compared to the industry standards, you still have the chance to get the transaction confirmed through this transaction accelerator service.
The refund policy is straightforward as they do not offer refunds and all sales are final. Plus, all transactions will be confirmed within 72 hours, but in most cases, they are approved within 12 hours. But if your stuck transaction is not confirmed within 72 hours, they will credit you with a free future acceleration.
Lastly, they also prioritize based on the extra fee you pay for acceleration. For example, if your BTC TX has 0 or 0.01$ fees, it can take up to 72 Hours, while fees above 0.50$ will be confirmed within 48 hours.
Note: Please make sure your TX doesn’t have unconfirmed bitcoin inputs.
360 Bitcoin Accelerator is another free-to-use Bitcoin transaction accelerator.
Using this service, Bitcoin users can accelerate BTC transactions even if the initial transaction fee is low. But this service doesn’t mine itself nor connects to other miners.
This acceleration service helps confirm an unconfirmed BTC transaction much quicker by re-broadcasting them to the network; by re-broadcasting the BTC transactions ID, it’s more likely to get picked up by mining pools like the Viabtc Pool, which confirms it on the blockchain.
Lastly, no sign-up is required to use this service.
BitAccelerate is another free Bitcoin transaction accelerator that allows you to get faster transaction confirmations on your unconfirmed bitcoin transactions
Using BitAccelerate, you need to enter the BTC transaction ID (TXID) and click the “Accelerate” button, and the service will rebroadcast the transaction via 10 Bitcoin network nodes.
You can resubmit your “Stuck” transaction every 6 hours until it is confirmed, and they will keep rebroadcasting it until it is picked. But please understand that there is no point in rebroadcasting it more frequently.
Lastly, spamming will lead you to get banned from using this free service, and there is no need to Sign Up or Sign In while using this service.
Which Is The Best Transaction Accelerator?
In general, I don’t believe off-chain transaction accelerators are suitable for the market because they threaten to make parallel fees market outside of the Bitcoin blockchain.
On the other hand, I wholly support those transaction accelerators and techniques natively supported on Bitcoin’s blockchain via Bitcoin wallets, such as Replace-By-Fees (RBF) and Child Pay for the parent (CPFP).
But I understand that not everyone can use these techniques because it requires you to have some Bitcoin literacy before being able to use these techniques successfully.
How do you accelerate Bitcoin transactions?
Visit any of the above BTC transaction accelerators that I mentioned.
- On the main page, enter the transaction ID or select the transaction that remain pending and you want to accelerate.
- Tap on the ‘Increase Fee’ section [if your wallet balance is close to zero, you may not have enough funds to pay for the additional transaction fee, so make sure to fund it]
- Enter a higher transaction fee. You can either choose from the already mentioned default ones or enter your own on the ‘Custom’ section.
- Tap ‘Next’, carefully review the details and click ‘Send’ to broadcast your transaction with the new fee.
And just like that, your transaction status gets executed in the next block.
Does the Bitcoin transaction accelerator work?
The answer to this is to use legitimate Bitcoin transaction accelerators. The ones I have enlisted are 100% trustworthy platforms, and that’s what the point of enlisting them and telling you about this was.
Try to stay away from a free bitcoin transaction accelerator other than those I told you about because the chances are they can be scammers. So until you are on these enlisted platforms, you are safe, and your Bitcoin transactions will be efficiently accelerated.
How can I speed up Bitcoin confirmations?
If the transaction status remains pending, this would mean that you have set an extremely low transaction fee because of which mining services are not considering your transaction, or there is a severely crowded Bitcoin network.
You can try offering huge miner fees or wait till your transaction is accelerated, and I would not prefer both methods.
The alternative solution, if you don’t want to pay huge miner fees, then you can consider using a cryptocurrency wallet that allows you to set a higher miner’s fee or tip. This method will eliminate the risk of exposing you out in the open.
I should say that using a Bitcoin accelerator for faster confirmations is not wrong, and when you use a legitimate platform, it eliminates the risk too. So it will depend upon your needs and requirement which way you choose.
Lastly, another easy and indirect solution to unstuck your Bitcoin transactions is to use segwit-enabled addresses, which effectively increases the Bitcoin block size, thus reducing the pressure of transaction fees and network congestion.
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