Speeding up slow Bitcoin (BTC) transactions using Electrum - brouillardrudd/Ledger-Fixes-Tips-325 GitHub Wiki

A slow Bitcoin (BTC) transaction may occur when the fee attached is low during peak network activity. This results in other transactions with higher fees taking priority, causing your transaction to take longer to process. Rest assured, your funds are completely secure, and it’s possible to resolve this issue by using a wallet such as Electrum, which allows you to increase the fee and expedite the process. 

However, please note that once a Bitcoin transaction has been confirmed on the blockchain, it is final and can no longer be sped up, reverted, or canceled. 

****** Have a Taproot BTC account and need to speed up your BTC transaction?

If you have a Taproot account and want to accelerate your Bitcoin (BTC) transaction, consider using Sparrow Wallet instead of Electrum.

This article describes how to speed up a stuck or slow Bitcoin (BTC) transaction with Electrum.

Please download the last update of Ledger Live Application:

1.Ledger Live for Windows 10/11

2.Ledger Live for MAC

3.Ledger Live for Android

Before you start

  • Make sure to update Ledger Live to the latest version.
  • Make sure that your Ledger device is running the latest OS (firmware) version.
  • Make sure you’re running the latest version of the Bitcoin (BTC) app.
  • Download and install Electrum on your computer.

Video instructions

Step-by-step

  1. Connect your Ledger to your computer, unlock it then open the Bitcoin app. Your Ledger displays: Bitcoin is ready.

  2. Open Electrum.

  3. Select Next. The “Wallet: field at the top does not need to be changed.

  4. Select Standard Wallet then click Next. images/6184876558621.png

  5. Select Use a hardware device then click Next. Before clicking Next, make sure that your Ledger device is unlocked and the Bitcoin (BTC) app is opened on your Ledger device. images/6184913014301.png

  6. Select your Ledger device then click Next. images/6184835425693.png

  7. Select the derivation path. If your Bitcoin account was created via Ledger Live, the default derivation path is native segwit (p2wpkh). images/6184916380317.png

  8. Tick Encrypt wallet file and click Next.

    Electrum displays your account transaction history. If not, please go back to step 7 and try a different derivation path/address type.

  9. Right-click the stuck (unconfirmed) transaction and select Increase fee. images/6185215210141.png

  10. Navigate to the New Fee rate field, type in a higher fee rate (sat/byte) then click Ok. You can use https://bitcoinfees.gitlab.io/ to find the optimal fee rate for your transaction. images/6185222799901.png

  11. Click Sign. images/6185257084061.png Electrum displays:  Confirm Transaction on your Ledger device… Your Ledger displays: Review output #

  12. Using the buttons, carefully review the Amount, Address then select Accept. Your Ledger displays: Confirm transaction.

  13. Using the buttons again, review the new Fees and, if all looks good, Confirm and send. Your Ledger displays: Application is ready.

  14. Back to Electrum click Broadcast. images/6185362348829.png Electrum displays: Payment sent and the destination address.

  15. Click Ok. You’re done! images/6185415890205.png