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another lesson learned today about transactions on the electrum wallet. Thank you sir for this insight and making me understand more on how transactions are carried out on the crypto space but am curious to know if this works for every wallet transactions involving bitcoin.
Yes to non-custodial wallets since transactions have to be included in the blockchain.
For transactions with unconfirmed parent, the parent has to be confirmed first or together with the child transaction(s).
Bitcoin withdrawals from custodial wallets/exchanges also subjected by this but you do not have the control on the fee rate, their charged "
withdrawal fee" wont be directly used as transaction fee.
For transfers between non-custodial wallet (
e.g.: Coinbase to Coinbase), it's different;
on-platform transactions wont use the blockchain so there'll be no on-chain fee nor waiting time for confirmation.
The downside is, they own your bitcoins.
Okay my next transactions i will just increase the charge rate to speed up the whole process to avoid any delayed transactions
Most of the time, this isn't necessary specially if you're using "
ETA" fee slider which has quite high recommended fee rate.
As long as it's telling you "
In the next block" or "
Within the next 2 blocks", the fee is alright.
The issue was: there's an unconfirmed parent transaction.