Bitcoin transactions can sometimes take longer to confirm due to network congestion. By paying a higher fee, you can expedite the process. This guide explains how to speed up your Bitcoin transactions using Magic Eden Wallet.
Steps to speed up a Bitcoin transaction
Complete your initial transaction
We will use sending Bitcoin in Magic Eden Wallet as an example. Click the 'View Transaction' button to review the details in your wallet.
View transaction details
The transaction screen will display the recipient address, transaction ID, and associated fee. Scroll down to the bottom to find the pink 'Speed Up Transaction' button.
Set a custom fee
Clicking on the 'Speed Up Transaction' button will take you to the custom fee page. Here, you can set your sats/vB (satoshis per byte), which determines the fee you are willing to pay to speed up the transaction.
Estimate the cost
The custom fee page will provide an estimated cost in BTC and your selected currency. To speed up the transaction, you will need to make an additional payment. If you are satisfied with the estimated cost, click the pink 'Set Custom Fee' button.
Confirm the transaction
You will then need to confirm the transaction.
The confirmation screen will show the total amount you are paying to speed up the transaction. Click the pink 'Confirm Transaction' button to proceed.
Speed up transactions via history
You can also speed up transactions through your transaction history. Click on Bitcoin and navigate to the asset's history. Pending transactions will have the 'Speed Up Transaction' button easily visible, allowing you to expedite the transaction from there.
Always ensure you are comfortable with the additional fee before proceeding with speeding up your transaction. Paying a higher fee can reduce the confirmation time, especially during periods of high network congestion.
By following these steps, you can effectively speed up your Bitcoin transactions in Magic Eden Wallet. If you have any questions, feel free to reach out to our support team by clicking on the chat widget.
This content is for educational purposes only and should not be considered financial advice or an inducement to buy, sell, or trade cryptoassets. UK users should be aware of their local regulations and ensure compliance with UK Financial Promotions regulations.