How to Cancel Pending Transaction on Trust Wallet

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Trust Wallet is a popular and user-friendly cryptocurrency wallet that supports various cryptocurrencies like Bitcoin, Ethereum, and other ERC-20 tokens. Occasionally, users might face issues with their transactions getting stuck or pending for an extended period.

This blog post will guide you on how to cancel a pending transaction on Trust Wallet, making sure you understand the reasons behind the delays and the best practices to avoid them in the future.

Reasons for Pending Transactions on Trust Wallet

There are a few common reasons why transactions might be pending or stuck in Trust Wallet:

  1. Insufficient transaction fees: Cryptocurrency miners prioritize transactions with higher gas fees. If your transaction fee is too low, it might not get picked up by miners and remain pending.
  2. Network congestion: During periods of high network traffic, transactions with lower gas fees might take longer to process and could remain pending.
  3. Pending previous transactions: If you have previous transactions from the same wallet that are still pending, newer transactions might also get stuck in a pending state.

Resolving a Pending Transaction in Trust Wallet

If you’re not in a hurry, you can wait for the transaction to be processed when the network becomes less congested.

However, if you need to resolve the issue sooner, you can follow these steps to cancel a pending transaction:

  1. Open your Trust Wallet and access the wallet containing the pending transaction.
  2. Locate the pending transaction and click on it.
  3. Find the nonce value and record it. The nonce is a unique number assigned to each transaction.
  4. Start a new transaction with the same nonce value and a higher gas fee.

By following these steps, you’re essentially overwriting the original transaction with a new one that has a higher gas fee, which is more likely to be picked up by miners and processed quickly.

Canceling a Pending Bitcoin Transaction

For Bitcoin transactions, the process is slightly different. Instead of using the nonce value, you’ll use a feature called “Transaction Acceleration” or “Child Pays for Parent (CPFP)”.

Here’s how to cancel a pending Bitcoin transaction on Trust Wallet:

  1. Open your Trust Wallet and access your Bitcoin wallet.
  2. Locate the pending transaction that you want to cancel.
  3. Click on the three dots on the right side of the pending transaction.
  4. Select “Child Pays for Parent”.
  5. A new transaction will be created which will include a higher fee than the original one.
  6. Broadcast the new transaction.
  7. Once the new transaction is confirmed, the original pending transaction will be canceled.

Keep in mind that this process does not guarantee the cancellation of the transaction. It simply increases the chances of it being confirmed by the network faster.

The success of this process depends on the current state of the network and the fees you’re willing to pay.

Best Practices to Avoid Pending Transactions

To minimize the chances of your transactions getting stuck in the future, consider the following best practices:

  1. Use appropriate gas fees: Ensure that you’re using a suitable gas fee for your transaction. You can check the average gas fees on various blockchain explorers to make an informed decision.
  2. Monitor network congestion: Be aware of network congestion and try to avoid making transactions during peak times. If you must, be prepared to pay higher fees to expedite your transaction.
  3. Double-check transaction details: Always double-check the transaction details, including the recipient address, amount, and gas fees, before broadcasting the transaction.

Conclusion

Pending transactions can be frustrating, but with the right knowledge and approach, you can quickly resolve them and ensure a smoother experience using Trust Wallet.

By understanding the reasons behind pending transactions and following the steps outlined in this blog post, you can effectively cancel or expedite stuck transactions and adopt best practices to avoid such issues in the future.

Remember, Trust Wallet maintains a transaction history for all your transactions, so you can easily keep track of your activities.

If you encounter any problems or have questions related to Trust Wallet, don’t hesitate to contact their support team for help.

By staying informed about network conditions, setting appropriate transaction fees, and double-checking transaction details, you can minimize the chances of facing pending transactions on Trust Wallet.

In case you do experience this issue, follow the steps outlined in this blog post to cancel or expedite the transaction, ensuring a seamless and efficient cryptocurrency management experience.

Finally, always keep in mind that the world of cryptocurrency is constantly evolving, and it’s essential to stay up-to-date with the latest developments, tools, and best practices to make the most of your digital assets.

Trust Wallet is just one of many cryptocurrency wallets available, so explore different options and find the one that best suits your needs and preferences.

Happy trading!

All rights reserved. Do not copy, rewrite or republish this content, in part or in whole, without proper credit to the source.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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