While carrying out a crypto transaction, there could be nothing more frustrating than seeing the “Transaction Pending” message on your screen because this typically means your funds are stuck. Especially if you’re dealing with highly renowned coins such as Bitcoin or using a wallet of the same status, such as MetaMask, these problems are somewhat common due to network congestion.
However, the good news is you can actually get rid of this, and most of the time, these transactions are fixable and temporary. Hence, you can go through this guide and find out why the transactions get stuck. Besides that, you will also learn how to speed up the transactions and a few more important details.
What does “transaction pending” mean in crypto?
If you see this error message on your screen during a transaction, then it means that your transfer has been submitted to the blockchain but has not been confirmed yet. Besides that, you need to understand how a transaction is carried out. When you send a crypto transaction, especially on networks such as Ethereum or Bitcoin, the transaction is broadcast to the network, and then it enters a queue called the mempool. After that, validators (or miners) pick up the transaction and confirm it.
However, if it is not included in a block, the status shows “pending.”
Why is my crypto transaction pending?
There are several reasons why your transaction could be showing a pending status and is taking longer than expected:
-
Low transaction fees
This is one of the most common reasons why your transaction may not fulfil. In case the fee is too low, validators always prioritize the other transactions that pay them more.
-
Network congestion
At times, due to network congestion, when a wide range of users are transacting at one time, the network becomes overcrowded, leading to stuck transactions. This scenario is quite common, especially if you’re dealing with the Ethereum blockchain during NFT drops or market spikes.
-
Complex transactions
If you are carrying out transactions such as swapping or interacting with smart contracts, you require more processing power. This creates a delay in transaction confirmation.
-
Wallet or exchange delays
At times, the issue is not with the blockchain but the platform itself. During the internal checks, the exchanges may delay certain transactions.
-
Nonce issues (advanced)
In case you have sent multiple transactions from the same wallet, any previous pending transaction can block the next one.
How to fix a stuck crypto transaction?
Now that you know the reason behind the pending status, it is time that you take a look at the ways through which you can fix a stuck crypto transaction. These solutions help you in scenarios when your transaction has been pending for a long time.
- Wait for some time: Patience is the key to many things, and this might work here as well. If you process a transaction during congestion time and it gets stuck, chances are that it might get confirmed when the network congestion drops.
- Speed up the transaction: In most wallets, you will find a button labeled as “Speed Up” allowing you to increase the fee, thereby speeding up the transaction. You might have seen this option in MetaMask.
- Replace the transaction: This is another way to fix a stuck crypto transaction. On networks such as Bitcoin, you have the option to resend the transaction with a higher fee using the “Replace-By-Fee” (RBF) option.
- Check a block explorer: Besides that, you can use tools such as Etherscan or Blockchain Explorer to check the current status of your transaction.
Speeding up a pending crypto transaction
For faster confirmation of transactions, you can try using these tips:
- Increase the gas fee: This will certainly ensure that your transaction looks more attractive to the validators.
- Transact during off-peak hours: Mostly, the Crypto transaction pending status occurs due to network congestion. However, you can avoid this by sending your transaction during off-peak hours.
- Use faster networks: Yes, you read that absolutely right. You can certainly use faster networks, such as Polygon, instead of the Ethereum mainnet to process transactions faster.
How to cancel a pending crypto transaction?
If this is the first time you’re getting to know about cancelling a pending transaction, you’ve heard that right. You can do this by following these steps:
- First of all, open your crypto wallet (e.g., it could be MetaMask).
- After that, you must find the pending transaction.
- Right next to it, you will see the “Cancel” option (if applicable).
- Thereafter, you need to confirm the transaction with a higher fee.
NOTE: However, this only works by sending the new transaction with the same “nonce” so that it can override the original one. Another important thing you must note is that not all transactions are available for cancellation.
Concluding thoughts:
A pending crypto transaction should not be counted as a problem because it often happens with users. This is just a part of how the blockchain systems process data. However, you should note that most transactions get delayed because of common reasons such as temporary network issues, low gas fees, or network congestion. But you can actually get rid of this problem by increasing the gas fee, using the speed-up option, and transacting at the right time.
FAQs:
Can you lose money if a crypto transaction is pending?
No, you won’t lose your funds if your transaction goes pending. It means it is in the queue and shall be processed on the basis of the priority list. The validators/miners prioritize transactions based on the gas fee.
What happens if a transaction never confirms?
In case a transaction stays pending for a longer duration, it may get dropped or get stuck. If it gets stuck, your funds will return to your wallet. If it gets stuck, it means it will process after some time or you can fix/replace it.
How long does a crypto transaction stay pending?
Though it usually gets confirmed within a few seconds or minutes. However, if it gets stuck or pending, it may take hours or even days.
How can I check the status of my transaction?
There are some tools that allow you to check the status of your transaction. For Ethereum-based transactions, you can use Etherscan, and for Bitcoin-based transactions, you can use Bitcoin Explorer.
