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Bitcoin bump fee is a feature that allows users to increase the fee of an unconfirmed transaction to speed up its confirmation on the blockchain. This is particularly useful when the network is congested, as higher fees incentivize miners to prioritize the transaction. By using bump fee, you can avoid long delays and ensure your Bitcoin transfer is processed quickly.
To use Bitcoin bump fee, you typically need a wallet that supports this functionality, such as those with Replace-by-Fee (RBF) or Child Pays for Parent (CPFP) options. RBF lets you replace the original transaction with a new one that has a higher fee, while CPFP involves creating a new transaction that spends the output of the unconfirmed one, attaching a higher fee to encourage confirmation. Always check your wallet\“s settings and network conditions before proceeding. |
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