Post
Topic
Board Bitcoin Discussion
Re: Why its impossible to cancel unconfitmed transaction?
by
ETFbitcoin
on 31/01/2021, 09:39:36 UTC
There is a feature called RBF to bump fees, but this depends on what wallet you're using to make transactions. Most custodial wallets don't apply this feature so you won't be able to bump the fee. The best solution is to use a non-custodial wallet like Electrum (this is popular, unless you define "popular" by having lots of ads on exchanges).

Take note this feature only change the Bitcoin destination to your address & you waste small amount of Bitcoin for transaction fees.
It's better to perform double-check your transaction rather than rely on this feature.

There is no way a transaction which is sent but not  confirmed yet could be cancelled. If this was the case, then people would exploit this for double spending.

Have you read @joniboini reply? There's reason why many exchanges & payment processor require some confirmation (usually 1-6).