One of the most irritating things about bitcoin is the time it takes to be transferred from one wallet to another. It is at the mercy of miners to pick up a transaction and confirm it. If the miner fee is set too low, there is a good possibility that no miner will be willing to pick up the transaction. Adding to this, a confirmation happens only when considerable amount of block confirmations are provided. Typically exchanges require around 20 confirmations to confirm a transaction and make it reflect successfully. Until then it will show up as ‘Un-confirmed’. This is when a BTC Accelerator comes handy. Bitcoin network has made immense growth in the number of transactions over the years which means that more and more blocks are filling on the network. All transactions cannot be added immediately to the blockchain, hence “mempool” is formed which is also known as the “transaction queue.”
Most users are irritated by waiting for too long and worry about losing their money. Usually, a transaction with lower fee has to go to the “mempool” where it can take several hours, days, or even months to confirm. In order to accelerate the process and confirm the transactions a Bitcoin Accelerator are used in general.
What are Bitcoin Accelerators?
Bitcoin Accelerator is a service that is offered by mining pools, to speed up the confirmation process of the transaction. There are several types of Bitcoin Accelerators such as “Mining Pool Accelerators” and “Third Party Accelerators.” They usually charge a specific fee to prioritize your transaction and put it on the top of their mining list which makes the confirmation of the transaction a much faster process.
Mining Pool Accelerators
- BTC.com Transaction accelerator is a service provided by BTC.com in association with different mining pools. It has the ability to get your transaction confirmed within 3 hours. The fee is charged based on the transaction size. The fee can be paid through BCH or fiat currencies. If the transaction is not confirmed within 12 hours, this Bitcoin accelerator guarantees a full refund to your card within the next 15 days.
- Provenance is yet another Bitcoin transaction accelerator that many prefer. The team behind this service uses a variety of methods to confirm a stuck transaction. They also go out and submit the HASH to other 3rd party services to boost the acceleration and also pay miners to confirm blocks.
- ViaBTC is another Bitcoin accelerator service that prioritizes the transaction submitted by the users for the next mined blocks by the ViaBTC pool. However, the only requirement of ViaBTC is to have a transaction fee of 10 sat/B. it does not charge any fee for accelerating your transactions which makes it the most widely used Bitcoin Accelerator as the submissions requests per hour mostly reach its limit that is 100. If you see the message “Submissions are beyond limit. Please try later,” then you will have to wait for the next hour for submitting the transaction again.
- PushTX-Poolin is also a Bitcoin accelerator that can be used to speed up the transaction confirming process on your unconfirmed transactions in just an average confirming time of 12 minutes.
Various other “additional” services also claim to accelerate your transactions and help to get it confirmed. However, their ability to get a transaction confirmed is dependent on re-broadcasting your transactions. Third-party accelerators are not mining pools themselves; they just re-broadcast your transactions again and again through different nodes. The Bitcoin Core clients do already re-broadcast the transactions and rarely need a third-party Bitcoin accelerator. It is said that “these transaction accelerators that are not the mining pools themselves are not actually helping to get a transaction confirmed faster.”
- Bitcoin Transaction Accelerator is a free service to accelerate the transaction confirming the process. It re-broadcasts your transactions through ten public and private nodes.
BitAccelerate is another free Bitcoin accelerator; it also re-broadcasts the transaction via different nodes both private and public.