Unconfirmed Bitcoin transaction-Solved


 

Hi,

This is take two on this subject.

Introduction

Electrum is a popular Bitcoin wallet that is used by people around the world. It is a software wallet with built-in encryption to help ensure safety for users. It is easy to use and allows users to store, send and receive bitcoins. In addition to its security features, Electrum can also be used to customise the fees paid for transactions. This article will explain the steps users can take to import a Bitcoin wallet into the Electrum Bitcoin wallet and bump up fees to get transactions confirmed on the blockchain.

Steps to import a Bitcoin Wallet into Electrum

1. Download and install the Electrum software wallet onto your computer or mobile device.

2. Once the software is downloaded, open the wallet and click the “File” menu.

3. Click “Import/Export” and then select “Import Bitcoin Addresses or Private Keys”.

4. Paste the private key (or a QR code) into the provided field.

5. Click “Import”.

6. The wallet should now be imported into Electrum and is ready for use.

Steps to Bump up Transaction Fees

1. Open the Electrum wallet and select the unconfirmed transaction

2. Under “Fee”, select the “Fee rate” from the drop-down menu and pick a higher rate.

3. Click “Send”. This will bump up the fee for the transaction and should help it get swiftly confirmed on the blockchain.

Conclusion

Using Electrum to import a Bitcoin wallet and adjust transaction fees to get transactions confirmed on the blockchain is a straightforward procedure. The steps outlined above should help anyone looking to use the Electrum wallet in such a manner. With the additional security and customisation features provided by Electrum, more and more people are choosing to use it as their go-to wallet.

Hope this was easier to understand than my previous try.

How do you rate this article?

9


L.J.
L.J.

Just a happy oak. Loves knowledge. Loves reading. Really loves making noise on my guitar.


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