Different Exchange transactions fees challenge

[Onyeeze]

Just want to know if exchange like binance or Remitano their least deposition is 0.00005, and you are not aware that the least that can confirm your transaction is a a value of BTC with such is value, so if you unknowingly deposited 0.0004 worth of BTC on the address and it refused to confirm, and BTC has already gone out from your wallet and is yet to confirm in the excahges, so what can you do to revert the BTC to your wallet since the transaction is still pending, so I don't know if its possible to get back your bitcoin since is on pending getting one week the transaction incident occurs.

[ABCbits]

so what can you do to revert the BTC to your wallet since the transaction is still pending, so I don't know if its possible to get back your bitcoin since is on pending getting one week the transaction incident occurs.

Some wallet (such as Electrum) have feature to "cancel" transaction, by replacing that transaction with newer ones which send all coins to your change address. This is only possible if the transaction still unconfirmed (not included in a block) on Bitcoin network. Otherwise, contact their customer support and hope they'll make an exception for you.

[Charles-Tim]

This is only possible if the transaction still unconfirmed (not included in a block) on Bitcoin network. Otherwise, contact their customer support and hope they'll make an exception for you.

Most of the exchanges that I know have low minimum deposit except OKX which is 0.0005 BTC. With the current price of bitcoin which is $91500, that is more than $45. My friend fall for this legit scam while two or more people on this forum fall for this scam less than 3 or 4 months ago, including BitMaxz. If you contact their customer care, they will not refund any coin.

[Onyeeze]

so what can you do to revert the BTC to your wallet since the transaction is still pending, so I don't know if its possible to get back your bitcoin since is on pending getting one week the transaction incident occurs.

Some wallet (such as Electrum) have feature to "cancel" transaction, by replacing that transaction with newer ones which send all coins to your change address. This is only possible if the transaction still unconfirmed (not included in a block) on Bitcoin network. Otherwise, contact their customer support and hope they'll make an exception for you.

The customer service of the Trust wallet, or the excahges that I used, the exchange in question I used for the transaction is remitano and the last I contacted them, they said they don't have anything to do, that the deposit that can be confirm on their network in bitcoin is 0.0005,  but in my Trust wallet history, it still writing pending showing that it has not be confirmed, so I don't know the possibility of it  to be revert as I said from the beginning.

[EL MOHA]

The customer service of the Trust wallet, or the excahges that I used, the exchange in question I used for the transaction is remitano and the last I contacted them, they said they don't have anything to do, that the deposit that can be confirm on their network in bitcoin is 0.0005,  but in my Trust wallet history, it still writing pending showing that it has not be confirmed, so I don't know the possibility of it  to be revert as I said from the beginning.

Trust wallet doesn’t enables RBF if not it will be much easier and faster, so what you will do is to import the phrase or private key into another wallet like BlueWallet or better electrum wallet and then you will double spend to another address of your wallet with a much higher fee, I hope it works because that’s the only way since you cannot turn a non-RBF transaction to an RBF enabled one. If the double spending doesn’t works switch nodes on electrum. You need to it fast because once this transaction gets confirmed there is nothing to do again

Also if this transaction gets to Remitano your funds will be lost because they will confiscate them even if you want to top it up it won’t work.

[Onyeeze]

The customer service of the Trust wallet, or the excahges that I used, the exchange in question I used for the transaction is remitano and the last I contacted them, they said they don't have anything to do, that the deposit that can be confirm on their network in bitcoin is 0.0005,  but in my Trust wallet history, it still writing pending showing that it has not be confirmed, so I don't know the possibility of it  to be revert as I said from the beginning.

Trust wallet doesn’t enables RBF if not it will be much easier and faster, so what you will do is to import the phrase or private key into another wallet like BlueWallet or better electrum wallet and then you will double spend to another address of your wallet with a much higher fee, I hope it works because that’s the only way since you cannot turn a non-RBF transaction to an RBF enabled one. If the double spending doesn’t works switch nodes on electrum. You need to it fast because once this transaction gets confirmed there is nothing to do again

Also if this transaction gets to Remitano your funds will be lost because they will confiscate them even if you want to top it up it won’t work.

Even though you import the wallet, it will not stop what's happening or going on to the wallet, I know quite well that it will be difficult for the coins to be reverse according to the analysis Charles-Tim said, but from what you explained I believe that you have not experienced this kind of challenge before, because once you experienced this kind, you will believe that importing the wallet with help of your seed phrase can render help. This matter should be a matter of blockchain, since the value bitcoin did not meet up the preferred demand of the excahges it suppose to bounce back to the wallet, so what we suppose to do is to agitate to the exchanges that refuses to return the funds why it has not meet to the number or figure of bitcoin before it can be confirmed.

[BitMaxz]

Is the transaction is already one week?
I don't think it would stay forever on the network; usually it rejected by the mempool after pending for 1 week.
Much better to check the transaction after a week it should be going back to your wallet since it was rejected by the network.

The cancel solution mentioned above using Electrum is only applicable to those who want to pay an extra miners fee and remove the old transaction immediately, but because your transaction is nearly a week old, most nodes remove it.
If it is still pending, I would first check it on the mempool.space for the current status and to see if the transaction is subject to no priority fees.

Once you confirm that the fees is under no priority fees then you can just wait for a week until all nodes reject it without paying an extra miners fee.
You can recreate a new transaction that was rejected to all nodes and rebroadcast the transaction.

About the Binance minimum deposit, I think it is only 600 sats for legacy address and 2 sats for segwit address so how did you get this "0.00005".
You maybe talking about OKX that has minimum deposit of 0.0005BTC on my case before they never refund my BTC. So be careful when sending BTC to any exchange like OKX better use an exchange with a low minimum transaction.

[ABCbits]

The customer service of the Trust wallet, or the excahges that I used, the exchange in question I used for the transaction is remitano and the last I contacted them, they said they don't have anything to do, that the deposit that can be confirm on their network in bitcoin is 0.0005,  but in my Trust wallet history, it still writing pending showing that it has not be confirmed, so I don't know the possibility of it  to be revert as I said from the beginning.

Trust wallet doesn’t enables RBF if not it will be much easier and faster, so what you will do is to import the phrase or private key into another wallet like BlueWallet or better electrum wallet and then you will double spend to another address of your wallet with a much higher fee, I hope it works because that’s the only way since you cannot turn a non-RBF transaction to an RBF enabled one. If the double spending doesn’t works switch nodes on electrum. You need to it fast because once this transaction gets confirmed there is nothing to do again

Also if this transaction gets to Remitano your funds will be lost because they will confiscate them even if you want to top it up it won’t work.

FYI these days many node enable full RBF flag. That means you can replace any of your unconfirmed TX, even though it doesn't have RBF flag.

Is the transaction is already one week?
I don't think it would stay forever on the network; usually it rejected by the mempool after pending for 1 week.
Much better to check the transaction after a week it should be going back to your wallet since it was rejected by the network.

Rejected isn't best term, since what node actually does is dropping or removing such TX. In addition, the default duration is 2 weeks. Although it could happen sooner if node's mempool is full where it drop TX with lowest fee rate first.

[LoyceV]

their least deposition is 0.00005
you unknowingly deposited 0.0004

You should read more careful and count the zeros.

worth of BTC on the address and it refused to confirm, and BTC has already gone out from your wallet and is yet to confirm in the excahges, so what can you do to revert the BTC to your wallet since the transaction is still pending, so I don't know if its possible to get back your bitcoin since is on pending getting one week the transaction incident occurs.

Are you asking a question about an "excahge", or are you asking about double-spending an unconfirmed transaction?

[EL MOHA]

Even though you import the wallet, it will not stop what's happening or going on to the wallet, I know quite well that it will be difficult for the coins to be reverse according to the analysis Charles-Tim said, but from what you explained I believe that you have not experienced this kind of challenge before, because once you experienced this kind, you will believe that importing the wallet with help of your seed phrase can render help. This matter should be a matter of blockchain, since the value bitcoin did not meet up the preferred demand of the excahges it suppose to bounce back to the wallet, so what we suppose to do is to agitate to the exchanges that refuses to return the funds why it has not meet to the number or figure of bitcoin before it can be confirmed.

I get your point but it is you not getting my point, transactions are irreversible on the blockchain but with if they aren’t confirmed they can be spent to another address through the use of RBF and since RBF isn’t enabled on your transaction because of the wallet you use for sending them you can simply double spend which is possible for two reasons; first is because the transaction is still unconfirmed and secondly because most nodes have enabled default RBF so they can easily replace old transactions with new ones.

Now why you need to actually import your wallet is because your trust wallet isn’t flexible like this to actually switch nodes like the electrum wallets or other wallets, you can simply switch nodes and check which of the nodes has your transactions as local and then your can rebroadcast a new transaction with a much higher fee. Reason why you use a much higher fee is because the old transaction might still be in the memepool of other nodes so to with fee being the priority for transaction selection the new transaction is picked and confirmed, there by rendering the old transaction invalid. But as BitMaxz suggested if you check the mempool explorer and your fee is around purging fee rate then you can as well wait for it to be automatically dropped from all the nodes.

Or better still contact the exchange in question should the transaction drops but to me that process takes a longer time and in most cases it never gets resolved

FYI these days many node enable full RBF flag. That means you can replace any of your unconfirmed TX, even though it doesn't have RBF flag.

Yes I know, that’s why I even suggested the idea of double spending same transaction (basically RBF) as most of the nodes will just replace it with the new transaction since they have RBF enabled as default

[hd49728]

Just want to know if exchange like binance or Remitano their least deposition is 0.00005, and you are not aware

If any Bitcoin or cryptocurrency user is not aware of it, that user is very carelessly. Why I am accusing that user like this, it's because all exchanges, in Deposit page for a user account, after a user choose a coin, and a blockchain, there will be some information, address, MEMO (not all coins will have MEMO), and a minimum deposit value.

There is another way to check the exchange information on Min. Deposit, Min withdrawal, trading fees but this page can be missed or unknown by users. However, it's impossible that they won't be given information on a Min. deposit amount, it's only they are careless enough to ignore and don't read given information by the exchange.

[Onyeeze]

their least deposition is 0.00005
you unknowingly deposited 0.0004

You should read more careful and count the zeros.

Yeah you're right, the digits is 0.0005 instead of 0.00005, the 0.0005 is approximately $46 in today’s bitcoin price

worth of BTC on the address and it refused to confirm, and BTC has already gone out from your wallet and is yet to confirm in the excahges, so what can you do to revert the BTC to your wallet since the transaction is still pending, so I don't know if its possible to get back your bitcoin since is on pending getting one week the transaction incident occurs.

Are you asking a question about an "excahge", or are you asking about double-spending an unconfirmed transaction?

both the exchange and unconfirmed transaction that has been pending for long.

[Findingnemo]

both the exchange and unconfirmed transaction that has been pending for long.

This has nothing to do with the exchange, if it's confirmed the balance will not reflect on the exchange's wallet balance since the deposited amount is less than the minimum requirement which will be clearly mentioned in the deposit page.

Now you mentioned unconfirmed mean you can double spend the funds to different addresses which can be your own and with the nodes enabled full RBF it is now possible to do replacement TX to different address and fees.

Follow these steps to do that.

For making the replacement transaction, you can also use electrum.

- Create a new wallet using your private key.
- Let your wallet get synced and then disconnect your computer from the internet.
- Go to "console" tab and use this command to remove the transaction you want to be replaced from your wallet: wallet.adb.remove_transaction("TXID")
- Close electrum and open it again.
- Make the replacement transaction and export the raw transaction.
 
For broadcasting the replacement transaction, you can also use electrum. To do so, you should change servers until you connect to a server which allows you to broadcast your replacement transaction.

[hd49728]

both the exchange and unconfirmed transaction that has been pending for long.

You are asking about your Deposit to an exchange, Binance or Remitano, and you must know basics about Deposits.

Exchanges won't credit your Deposit to your account if that Deposit transaction was not confirmed on-chain, at least 1 confirmation. Each exchange has its own policy on how many confirmations is enough for credit it to your account.

Binance requires 2 confirmations.
Why Hasn’t My Deposit Been Credited?

Remitano requires 1 confirmation.
How long does it take to send or receive Bitcoin/Ethereum/... to my Remitano Wallet?

If that on chain transaction was not confirmed, it's pending on Bitcoin mempools and no exchange will credit it to your account.

[Charles-Tim]

You do not understand what Onyeeze asked. He is asking question about double spending. That if a bitcoin transaction has not been confirmed, and he later knows that he sent lower than the exchange deposit limit, that can he cancel the transaction if not yet confirmed. If you send lower than the exchange minimum deposit limit, the exchange will not credit your account.

[hd49728]

You do not understand what Onyeeze asked. He is asking question about double spending. That if a bitcoin transaction has not been confirmed, and he later knows that he sent lower than the exchange deposit limit, that can he cancel the transaction if not yet confirmed. If you send lower than the exchange minimum deposit limit, the exchange will not credit your account.

All you said are correct, and I understood his situation, but I saw that his post provides incorrect information about his situation.

Read my post, you will see I described that if your deposit transaction is not confirmed, some exchanges don't show it as Pending. Even it has 1 confirmation, some exchanges don't credit it to your account, if they require like 2, 3 or 4 confirmations and with only 1 confirmation they will show that deposit as Pending, or In progress. Some exchanges can show a not confirmed deposit as Pending but not all exchanges have this policy.

1 confirmation is a very least condition from a user, before they can start to wonder why an exchange shows their deposit as Pending.

[joniboini]

Even it has 1 confirmation, some exchanges don't credit it to your account, if they require like 2, 3 or 4 confirmations and with only 1 confirmation they will show that deposit as Pending, or In progress. Some exchanges can show a not confirmed deposit as Pending but not all exchanges have this policy.

Does that really matter in this case since OP confirms that his transaction is pending anyway (I assume from this wallet/block explorer)? Without checking his exchange balance he should be able to tell whether he can "cancel" his transaction or not from that. CMIIW.

Speaking of that, exchanges that I've used so far use some random range such as 1-3 confirmations before my wallet balance is updated, it can be annoying sometimes.

[hugeblack]

They do this to avoid paying higher fees for their onchain transactions and thus increase their profits, but they can accept deposits even if it is $.

Most of the exchanges that I know have low minimum deposit except OKX which is 0.0005 BTC. With the current price of bitcoin which is $91500, that is more than $45. My friend fall for this legit scam while two or more people on this forum fall for this scam less than 3 or 4 months ago, including BitMaxz. If you contact their customer care, they will not refund any coin.

In another thread, a user was able to recover his balance after sending less than 0.0005 BTC, so it is possible to recover it, but with a lot of headaches, so it is better to review the minimum limits.