A method to speed up transaction on Metamask wallet

[MrSpasybo 1049]

3 hours ago, Dorjoy12 said:

This is necessary and especially for erc 20 token transaction user because mostly time they do transaction to  swap their token by high transaction fee ..that is why if they try to follow out this method then it will be helpful for them ..as metamask has pending transaction cancel system so it is more good .

@Dorjoy12 @Whited35 I think the most effective way to speed up transactions & reduce fees is to ask the Ethereum development team to adopt EIP-1559 & layer-2 solutions earlier. I don't really want to have to wait until July to move my ERC-20 tokens. I have hundreds of tokens, each transaction costs at least 3-5 USD, I could lose thousands of USD just to pay for transaction fees 😞

[Whited35 15285]

5 hours ago, MrSpasybo said:

@Dorjoy12 @Whited35 I think the most effective way to speed up transactions & reduce fees is to ask the Ethereum development team to adopt EIP-1559 & layer-2 solutions earlier. I don't really want to have to wait until July to move my ERC-20 tokens. I have hundreds of tokens, each transaction costs at least 3-5 USD, I could lose thousands of USD just to pay for transaction fees 😞

It is not under full control of Ethereum developers themselves as it is fully decentralized. They can fork out the best built codes but miners have to upgrade the software otherwise existing PoW protocol will keep working. Despite the several difficulties, my most loved guy Vitalik Buterin is really working very hard to resolve the issues. 

[Whited35 15285]

3 hours ago, Fairy Charm said:

Yes this was happening to me also .

On the blockchain wallet I make a transaction but it takes me up to 24 hours to complete my transaction.

Then I see a feature of speed up transaction.

Are you talking about Blockchain or MetaMask to speed up the transaction? Blockchain wallet automatically adjust the fees for transferring ETH. The features of MetaMask wallet which we are talking here, are unique. In order to send ETH quickly, at least 130 Gwei is demanded by the ETH miners and it is really a high ETH transaction mining cost. 

[Whited35 15285]

22 hours ago, Saqlain jabbar said:

Hello dear friends, I have no idea of speed up of transaction. Because I am not using this wallet. But I heard about it from my some friends.whi say that this wallet is very useful and informative on this forum.

It is simple. If you are using other wallets like Trust wallet, you can also use the trick to cancel the pending transactions by selecting the same nonce value but higher transaction fee to send the amount to the same wallet address from which transaction is stocked. In case of MetaMask, the button is shown to make the things easier.  

[cheri farah 487]

  I stopped using metamask recently  and now i am using exodus  it's suits me more in the problem of speed  in transactions 

[Whited35 15285]

10 hours ago, cheri farah said:

  I stopped using metamask recently  and now i am using exodus  it's suits me more in the problem of speed  in transactions 

So did you mean transaction speed delayed due to the different wallets? If yes, you have utterly the wrong concepts. If the miners on the specific blockchain networks delay to confirm the transactions, it will take a long time to get your transaction confirmed on the blockchain network so MetaMask has nothing to do with the speed of transactions. 

[Whited35 15285]

23 hours ago, robinneww said:

Yes I agree with you last few couple of weeks etherum network is not doing good. Their transaction fee is high. But as you says  then it will taie high fee which many users.

If you are talking about the current Ethereum blockchain network's gas fee structure, check a post created by our loyal member here https://cryptotalk.org/topic/352923-ethereum-transaction-fees-suddenly-dropped-only-40-gwei/ and you can also check the real time Ethereum gas fee structure by visiting this link of Ethereum gas fee tracker https://etherscan.io/gastracker

 

[Tariq 12 44]

Metamask wallet is good wallet . Many people use it because it is also easy to use .And the transaction is fast on this wallet Many people use it. 

[Whited35 15285]

On 4/29/2021 at 7:10 AM, Tariq 12 said:

Metamask wallet is good wallet . Many people use it because it is also easy to use .And the transaction is fast on this wallet Many people use it. 

Transaction fast or slow is due to the state of Ethereum blockchain network i.e. more congested or the  less congested. If the network is more congested, your transactions will be more likely to get processed after some delay. 

4 hours ago, M Adil said:

This is a very fascinating characteristic kinda comparable to double spending! Although, I don't use metamask. What I do is surely provoke a new transaction with greater costs and identical nonce value.

Huh? How can it be relatable with the double spending? You should be familiar with the technical aspects here. 

[Whited35 15285]

On 5/3/2021 at 12:01 PM, fade amr said:

I think in order to speed up your transaction in meta mask wallet you have to use high GAS fee, but if you'll make mistake in choosing high GAS fees you could get lost many money in fees....

Your transaction's nonce value should be the same and you are sending zero ETH to the same address by setting up the high Gwei. MetaMask do these all things automatically so that you need to have more complicated manual adjustments to speed up and cancel the transactions. Just follow the simple method to proceed these all things inside the MetaMask wallet. 

[Whited35 15285]

15 hours ago, Alex peter said:

If you want to speed up your transaction your have to change your wallet and also one more thing that you have to increase your gass fee when you increase your gass fee your transaction will fast completed.

Change wallet? Nope ! You have utterly the false idea regarding this. Wallet changing will not be helping you to speed up the transaction. You need to increase the network fee so that miners will pick your transactions quickly to process. Speed of transactions depend on the blockchain networks, be clear on this fact first. Wallet just helps you for communicating with blockchain to send or receive the crypto. 

[sikaup 0]

if someone is in a hurry they should do it! and do not put a very low price fee because sometimes it does not go through and wait for nothing thank you for sharing

[Whited35 15285]

On 6/14/2021 at 4:13 AM, sikaup said:

if someone is in a hurry they should do it! and do not put a very low price fee because sometimes it does not go through and wait for nothing thank you for sharing

In order to speed up and cancel the transaction, you still need sufficient ETH amounts to cover the fee otherwise intended operation will not be completed. It is due to ETH gas fee and the congested Ethereum blockchain network.Other wallets like MetaMask are also working to bring the similar features.