Fixing Stuck Bitcoin Transaction: Replace by Fee (RBF) Child Pays for Parent (CPFP) & Cancel via RBF
Keep all your crypto safe & upgrade to a Ledger Nano X Hardware Wallet
https://shop.ledger.com/pages/ledger-nano-x?r=5243ecbb8427Alternatively, if you prefer a 100% Open Source wallet, a Trezor One is also a great value wallet
https://shop.trezor.io/product/trezor-one-white?offer_id=14&aff_id=2922&source=YouTubeA video that demonstrates a few different methods which allow you to increase fees for Bitcoin transactions that you have already sent. This is very useful if you are in a situation where a transaction is stuck unconfirmed and you want to hurry it up. This video looks at a few different methods that are applicable in different situations, depending on your wallet and whether you are sending or receiving funds.
Tools Used:
https://mempool.spaceUsing Electrum with your Hardware Wallet
Trezor:
https://wiki.trezor.io/Apps:Electrum
Ledger:
https://support.ledger.com/hc/en-us/articles/115005161925-Set-up-and-use-ElectrumBitbox02:
https://shiftcrypto.ch/blog/bitbox02-with-electrum-wallet/Cobo Vault Pro:
https://support.cobo.com/hc/en-us/articles/360047737014-Creating-an-Electrum-Watch-Only-Wallet-BTC-Only-Chapters:
00:00 Intro
00:46 Overview of examples
01:48 Demo Wallet & Transactions
02:55 Accessing your wallet with Electrum
03:57 Outbound TX Replace by Fee
05:35 Inbound TX Child Pays for Parent
08:18 Outbound TX Child Pays for Parent
10:08 Cancel unconfirmed Outbound TX via RBF
11:30 Tools to help choosing fees
12:20 Closing Thoughts
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If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.
For your first purchase, just stick with CoinBase:
https://www.coinbase.com/join/5691c9d0a4c3a05dfa000151For Trading, just start with Binance:
https://www.binance.com/?ref=18111926By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)
Don't have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger:
https://shop.ledger.com?r=5243ecbb8427(If you are just starting out, I would just recommend a Ledger Nano S)
If this was helpful, feel free to send me a tip:
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LTC: MRWnUcsyofisVp5GvX7nxMog5caneycKZ6
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ZEN: znUihTHfwm5UJS1ywo911mdNEzd9WY9vBP7
#bitcoin #btc #cryptocurrency #crypto #ledger #trezor #coldcard #sec
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https://www.youtube.com/watch?v=LdmoP4Ss1hU