Is your Bitcoin ordinal transaction stuck due to you paying too low a transaction fee? Fret not! Our new refresh button is the solution you've been waiting for. In this guide, we'll walk you through the functionality of the refresh button, its significance in the context of Bitcoin transactions, and how it can ensure a seamless buying and selling experience on our platform.
Why the refresh button matters
Bitcoin transaction fees can vary based on demand, and transactions may not get posted if the fee paid is too low. The refresh button allows you to refresh the mempool state. This action enables the owner to relist their ordinal, overcoming issues related to stuck transactions.
Facilitating smooth transactions
The refresh button empowers buyers willing to pay a higher fee, as it allows them to purchase your ordinal after refreshing and the item is re-listed. This feature ensures that listings remains accessible to users who are prepared to offer a premium fee rate for a smoother transaction.
Refresh and delist
The refresh button will delist a Bitcoin ordinal if the mempool transaction is not found, offering a solution to transactions stuck due to low fees.
Important note:
The refresh button delists ordinals only when a pending transaction is not found in the mempool.
Monitor your listings
Note that the refresh button is available to all users of the Magic Eden platform. When choosing to list an item on Magic Eden, be aware that a user may attempt to purchase it with low fees. If the transaction is not posted, any user can go ahead and hit the refresh button. This will delist your ordinal, and you will need to relist it again.
The delist feature was added to prevent the situation where a stuck transaction is keeping your listing at too low a price, if the floor has gone up on the collection. If the refresh button did not delist your ordinal, then other users could pay a higher fee and purchase your listing after refreshing, despite the fact that the floor may have moved significantly higher.
It is important to monitor your listings and be aware of potential buys broadcasted on your item.
The refresh button is a valuable tool for managing Bitcoin ordinal transactions stuck in the mempool due to low fees. It is crucial to be aware of the delisting functionality and monitor your listings. As emphasized, it is the owner's responsibility to ensure smooth transactions and prevent any impact on the sale of their ordinal. If you have further questions or encounter issues, don't hesitate to reach out to our support team. Happy trading!