TL;DR
If you've used the Ethereum network before, you've probably received a transaction that took longer than usual to confirm. This is because miners prioritize transactions - users offering higher fees get priority.
If your Ethereum transaction is stuck due to low gas fees, you will need to wait until the fees drop and the miner finally processes your transaction. However, you also have the option to replace the pending transaction with a new one with a higher gas price. Sound difficult? It's easier than you think. And it works with ether (ETH) and all ERC20 tokens.
Introduction
First of all, please note that you cannot replace, return or cancel transactions that have already been confirmed. However, during periods of network congestion, some cryptocurrency transactions may hang. When the volume of transactions is too large, you may experience a pending transaction for hours or even days.
Sometimes the blocks are removed by themselves - either due to the failure of a pending transaction, or due to a reduction in the gas fee. While you cannot literally reverse an Ethereum transaction, there are a few steps you can take to speed up the process. In fact, they consist of replacing an incomplete transaction with a new one that requires higher fees.
In this guide, we'll show you how to speed up transactions using MetaMask or Trust Wallet. You can also use other crypto wallets that support the Ethereum blockchain, but the process may be slightly different.
Requirements
MetaMask or Trust Wallet installed.
Private keys (seed phrase) for entering your Ethereum wallet.
Internet access.
Why is my Ethereum transaction frozen?
Ethereum works with a trading system for your transaction fees. Your fee will depend on the complexity of your transaction (ie how much computing it requires). In this context, you should know three important terms: gas cost, gas price and gas limit.
The computational tasks of the transaction are measured in units of gas value, while the price paid for each unit of gas is what we call the gas price. You can think of the cost of gas as the amount of work required, and the price of gas as the price paid for each "hour of work". And the gas limit is the maximum amount you are willing to pay for a transaction.
Although the cost of gas is determined by the complexity of your transaction, you can set your gas price limit. The total commission paid will then serve as an incentive for the miners. However, if your gas price is too low, other users may outbid your bid and your transaction will remain incomplete. If a transaction is stuck, Ethereum will not confirm any new transactions you make from the same wallet address until the miner has confirmed the first transaction.
How to speed up a transaction on MetaMask
1. Login to your MetaMask wallet that has a pending transaction. If it's an external wallet, you need to import the address using the appropriate seed phrase or private key.
2. Find the pending transaction on the [Activity] tab and click [Accelerate].
3. This process will allow you to broadcast your transaction again. Make sure you select the higher gas price by clicking [Quick] and then [Save].
4. If the previous step did not work, you can also go to the [Advanced] tab to set the gas price manually. You can check current gas prices and average confirmation time on Etherscan or EthGasStation.
How to replace a transaction with MetaMask
1. Login to your MetaMask wallet that has a pending transaction. Again, if it's an external wallet, you need to import the address using the appropriate seed phrase or private key.
2. Find the pending transaction on the [Activity] tab. Click on it to check the details and record the [Nonce] value.
Note: If you have multiple pending transactions, you need to start with the oldest (smallest nonce value).
3. Then go to [Settings] in MetaMask and click [Advanced].
4. Scroll down and enable [Configure transaction nonce].
5. Go back and click on your wallet address to copy it to your clipboard.
6. Click [Submit] to create a new transaction and paste your wallet address in the [Add Recipient] field.
7. You need to send 0 ETH to your wallet using the "nonce" of the pending transaction (recorded in step 2). When ready, click [Confirm].
Note: If the gas price is too low, this transaction may also hang. Make sure you set a reasonable price for gas.
8. Wait for the new transaction to be confirmed to replace the pending transaction.
Note: To avoid incidents, don't forget to set [Configure transaction nonce] to OFF again.
How to cancel a transaction from Trust Wallet
1. Click on a pending transaction in the Trust Wallet app and look for the [Nonce] field. Write down the number you see.
2. Create a new transaction and add your wallet address in the [Recipient Address] field. Make sure this is the same address as in the pending transaction. Set [Amount of ETH] to 0 and click [Next].
3. Click settings in the upper right corner.
4. Replace the [Nonce] field with the value you recorded earlier. Make sure you set a competitive [Gas price] so your transaction won't hang again.
5. Wait for the new transaction to be confirmed to replace the pending transaction.
Final thoughts
It can be very frustrating to send an Ethereum transaction and discover that you didn't beat the gas price. It's even worse when you realize you can't use your Ethereum wallet until the pending transaction fails or is confirmed.
Sometimes, stuck transactions are sent automatically when network fees are reduced. But unfortunately, it may take some time. Fortunately, you can undo a stuck transaction by restarting it with a simple zero-token transfer. Remember that you will need to pay sufficient gas fees to successfully cancel the transaction.
