loader image

Why is the digital currency transaction suspended or not completed?

China Link price analysis: bullish correction to above 7 dollars
مارس 29, 2023
Can SHIB keep rising as SHIB pumps up 5% in 24 hours? Shiba Inu price prediction.
مارس 29, 2023

Since miners collect gas fees paid by senders, they usually look for transactions with the highest gas prices to confirm first. This is why transactions with lower gas costs take longer to process. In a set of a large number of transactions, some of them, which have the lowest gas, are never received, and in fact, miners do not want to process them. This process leads to these transactions getting stuck in the transaction suspension state.

Undone and suspended transactions

 

Many friends ask us every day about the transactions that were made from the wallet but did not reach the destination! In this article, we are going to teach you the methods by which you can complete your pending transactions. First of all, read the complete Trust Wallet training article to understand the topics discussed.

 

Transactions that are in pending transaction status may also appear in your wallet but nothing is shown after checking the details in Blockchain Explorer. First, make sure you know the full working of the explorers. In the step-by-step guide to using Etherscan Explorer, we have taught the additional topics of Etherscan Explorer. But if you are sure that the transaction is suspended in such cases, you should return to your digital currency wallet more carefully.

 

What can be done if the transaction is stuck?

First solution: wait

 

If you’re not in a rush, you can let the transaction happen automatically. Eventually there will come a time when the network will be less congested and miners will receive your transaction as well. The only drawback is that there is no specific time frame for how long it will take for the network to become less congested or when miners will decide to process a transaction.

 

Sometimes you have to really wait to confirm the transactions

An important point in suspending transactions

Are you sure you haven’t repeated a transaction several times? You can click on the “More Details” option to view the actual transaction process. Do not send the same transaction over and over again, as it may cause errors or loss of funds.

Second solution: Cancel the transaction

 

To cancel the transaction, you must do the following in order:

 

Click on the pending transaction and find the section called “nonce” on the page and enter the value (a number) in it. Start a new transaction and in the Recipient address field, enter the public address of your wallet, that is, the same address from which you are sending the transaction.

 

Enter 0 in the “Amount ETH” field. On the next page, click on the gear icon in the upper right corner of the page, scroll down and replace the nonce value with the previously recorded value.

 

Set the gas price high and confirm the transaction. The third solution: Re-creating or re-sending the transaction

This case is a bit more complicated than canceling the transaction and previous solutions; Do it carefully at your own risk.

The order in which transactions are processed is determined by a value called a “nonce”. If you want to resend a stuck transaction, you must determine the nonce value and create a transaction with the same nonce value. First, look for the oldest suspended transaction.

 

Click the Pending Transactions option to see an overview of pending transactions. On this page, you can see the nonce value. Write this number down because it will be useful in the future. Then create a new transaction with the original recipient address and amount. On the confirmation screen, click the gear icon in the upper right corner and scroll down. Replace the nonce value on the screen with the previously recorded value. Set the gas price high and confirm the transaction.

 

Be sure to note that:

 

We hope your problem is solved. If you still have a problem, express it in the comments section.

 

Introducing the cold wallet

 

Cold wallet means storing private keys of digital currencies offline. This method is the best option in cases where you have a lot of digital currency assets.

For example, hardware or paper wallets are cold wallets. Since in this method, data is stored offline, they are more secure against hacking, phishing attacks and other online harms.

 

Introducing the hot wallet

 

Hot wallets include mobile, web, and desktop wallets. Because you have to access the internet to access the wallet and private key, they are called hot wallets. But the fact that they are hot does not mean that their private keys are distributed in the Internet space, but it means that the private keys are related to the online space. Many desktop wallets record information inside the system, but they are called hot. A desktop wallet can only be called cold if it has nothing to do with the online space.

 

Comparison of cold and hot wallets

 

The most important advantage of hot wallets is the availability and support of more digital currencies than cold ones, but this advantage comes at the cost of increasing the risk of being hacked.

 

It is a technical product. People who do most digital currency transactions mostly use this type of wallet due to the availability of hot wallets. But they only keep their assets in it for a short time and because of the greater security of cold wallets, they transfer their assets to cold wallets for safekeeping.