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14 Sep 2022

How To Speed Up Bitcoin Transactions?

While Bitcoin is undoubtedly the most valued and widely known cryptocurrency in the industry, it is far from perfect. The Bitcoin blockchain is now so clogged that completing a single transaction within the network can sometimes take more than an hour. This problem is becoming more prevalent, leading to so-called "Bitcoin transaction accelerators." However, we recommend bitcoin pro as a secure live trading platform.

So, what are transaction accelerators, how do they work, and how safe are they to use?

What is a Bitcoin Transaction Accelerator?

While Bitcoin transaction times fluctuate regularly, the consensus is that they are too long. We're used to having our payments processed instantly in our modern lives, so it's no surprise that Bitcoin users are frustrated by the increasing wait times for any transaction on the blockchain. It's infuriating for outsiders unfamiliar with cryptocurrency.

While a confirmation on Bitcoin's blockchain can take only a few minutes, every transaction must go through at least six of these to be complete. Because the Bitcoin network is so busy, it may take some time to complete this confirmation cycle. While you may believe there is no way to fix this, transaction accelerators can help.

Transaction accelerators, as the name implies, can theoretically reduce the time it takes to process a given transaction. However, technology can directly force a Bitcoin transaction to complete more quickly. As a result, when you use an accelerator, you are not interacting directly with the blockchain and pushing your transaction ahead in the queue.

Miners, instead, run transaction accelerators. These people are in charge of processing and creating new blocks in the Bitcoin network and thus have access to the mempool. Miners essentially control the transaction verification process because they can choose to process transactions for a higher fee. That's because transaction fees and Bitcoin mining rewards pay miners.

Miners have noticed a high demand for faster transaction times and have capitalized on this by offering users the opportunity to move their transactions up the transaction ladder. A transaction accelerator is simply a user asking miners to verify their transaction faster and add it to the next block. Remember that this is a request, not a demand.

Depending on the accelerator you use and how urgently you need your transaction sped up, you can request that it be accelerated for free or a fee. While the process of transaction acceleration appears simple, some risks are involved, and more malicious parties have decided to take advantage of this new market.

Is it Safe to have a Bitcoin Transaction Accelerator?

There is no guarantee that your transaction will be a priority when using a Bitcoin transaction accelerator. As previously stated, accelerators are for requests rather than demands. While some providers offer a high likelihood of prioritization, this is never guaranteed.

While using a Bitcoin transaction accelerator may shorten your transaction time, it's essential to consider the risks of the process and be aware of the many scam sites willing to accept your payment without providing anything in return. Setting aside a few minutes to quickly check any accelerator site is invaluable in protecting your funds.

If you don't want your Bitcoin transaction to fail or take an eternity to complete in the first place, use a cryptocurrency wallet that allows you to assign a higher miner's fee or tip. This way, you avoid exposing yourself and your Bitcoin to scams or other threats.


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