Cancel a bitcoin transaction using (RBF) Protocol
Can I cancel a bitcoin transaction ?
The short answer is yes. You can cancel a bitcoin transaction if it didn’t get any confirmation.
What is BTC (RBF) Protocol ?
(RBF) is a node policy that allows an unconfirmed transaction in the memory pool to be replaced by a different transaction or canceled if the cancellation conditions are met.
What happens if a Bitcoin transaction is cancelled ?
The sender gets his money back, minus the transaction fee. This is because Bitcoin transactions are not considered final until they are confirmed by the blockchain network.
How long does it take to cancel an unconfirmed Bitcoin transaction ?
A maximum of 20 minutes after sending a request RBF.
How long until my fees come back if unconfirmed ?
It typically takes 1–100 minutes for a stuck bitcoin transaction to get purged from the mempool entirely.