is growing every year. The novelty of the industry implies the presence of a huge number of non-professional investors in the market. Due to lack of experience or simple carelessness, they can voluntarily lose digital assets by simply sending them to the wrong wallet. In this article we will talk about why you can’t just cancel a BTC transaction and what to do if it’s stuck?

1. Is it possible to cancel a BTC transaction?

As mentioned above, unfortunately, it is technically and physically impossible to cancel a transaction on the Bitcoin network. Throughout the history of the coin, many users have become convinced of this feature of digital currencies through their own bitter experience. At first glance, this may seem like a flaw of the developers, but if you understand the principle of operation , which underlies cryptocurrencies, then everything falls into place. The fact is that Bitcoin is a decentralized system, that is, it does not have a single center from which the direction of transactions could be adjusted. It is worth noting that cryptocurrencies gained their popularity precisely because of the ability to exchange coins without the control of intermediaries.

You can view the transaction queue, but you cannot return funds. Transactions in digital currencies are different from traditional ones electronic systems. The process of conducting transactions involves rewriting the balances of two wallets (sender and recipient). Data about this operation is recorded in the registry, after which it can no longer be changed.

2. For what reason can you not return bitcoins?

Due to the nature of the technology, it is not possible to reverse the transaction. If, for example, you bought something on the Internet and paid with Bitcoin, but want to return the goods, then you need to contact the seller so that he can carry out a new transaction to the wallet. Since the data about your payment has already been successfully entered into the register and nothing can be done with it.

But what to do if you accidentally sent funds to the wrong wallet? Let's be honest, unfortunately, you need to come to terms with it, since most likely you will not get them back. Though , to which the transaction was made and is in the public register, it is not possible to find a person by name or surname. Therefore, you cannot know 100% to whom exactly you sent your digital assets.

3. The transaction is stuck, what should I do?

The long confirmation time for transactions in the Bitcoin network is a weak point of this payment system. The BTC algorithm is designed in such a way that it can process only 7 transactions per second, so sometimes users have to wait several hours or even days for a transaction to complete. But it happens that they freeze for a very long time, for what reasons could this happen?

• sudden interruption of the Internet signal;
• Setting the commission too small.

What algorithm of actions should be performed in this case?

1. First, you need to make sure whether the operation is actually stuck or whether it’s just not the turn yet. Go to Block Explorer, it will be indicated there.
2. Next, go to the debug console (Help-window-debug-console);
3. Get the private key from the wallet.
4. Export private access keys to all Bitcoin addresses that have funds.
5. After that, close the application and delete the wallet.
6. Run the wallet program client again, create new wallet and import private keys. Be prepared that this process will take quite some time.
7. Ready. In the new wallet, access to blocked funds will be restored. This way you can cancel an unconfirmed Bitcoin transaction.

It is important to understand that these instructions do not apply to cloud wallets.

4. Conclusion

When making transactions on the Bitcoin network, you should be extremely careful, as they cannot be reversed. It's like main feature, and a lack of the system.

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Everyone knows that canceling a Bitcoin transaction is impossible. The irreversibility of transactions is one of the distinctive properties of a peer-to-peer cash system, unlike centralized ones. payment systems. At one time, Bitcoin Core developers were going to make a change to the client that would allow editing a transaction not yet accepted into the block in order to change the commission, but this functionality has not yet been implemented. And, nevertheless, already now, under certain conditions and with sufficient desire, cancellation of the transaction is possible.

This article is a description of an experiment whose purpose was to test how successfully it is possible to send bitcoins from a Bitcoin Core wallet. The experiment was unsuccessful and led to the fact that five transactions sent with various wallet settings in terms of commissions were frozen. But then the experimenter managed to cancel the frozen transactions and return the blocked amounts.

How not to send transactions

The first 2 transactions were attempted to be sent with the minimum fee set to 0.00001 BTC and the “Try to send without fee if possible” checkbox.

Please note that the client recommends setting 0.00013615 BTC per kilobyte. But for the remaining three transactions, each of which was for the same amount of 0.01 BTC, the recommendation regarding the size of the commission was ignored, and the size of the commission itself was set deliberately lower than the recommended one.

It turned out that all five transactions were stuck without a single confirmation for an indefinite period of time. In our case, for a week.

An additional inconvenience was that the address to which the bitcoins were sent, in turn, could not be used to send bitcoins. An attempt to make a translation was accompanied by the message: “Oops! You have unconfirmed deposits pending. You must wait for your deposits to be confirmed before withdrawing."

If the situation is familiar to you, then there is no reason to panic. To begin with, you can wait a while. If the queue of transactions clears up, then perhaps, in the end, your turn will come. If the wait is too long - as in our case, for a week, then you can try to force the wallet - here this was done using the example of Bitcoin Core - to “forget” about the posted transactions. After all, until the first confirmation arrived, the transaction was not included in the block, which means that only your client knows about it.

How to roll back a stuck transaction

For a client where there is no functionality for calculating the recommended commission amount, you can use the Blocktrail service. You can use a client who not only does not show, but also does not provide the opportunity to set the amount of the commission, at your own peril and risk.

Canceling stuck transactions sent using wallets other than Bitcoin Core is done in a similar manner. It is important to export the private keys of all the addresses that were involved in the transactions and where the bitcoins are present, then rebuild the wallet - this will likely involve deleting the directory where the wallet software stores the data, and then import the private keys into the newly created wallet. The solution is not applicable for cloud wallets.

With the participation of Yulia Shalimova

With the growing popularity of Bitcoin, people are starting to invest money in the cryptocurrency. Many, naturally, choose cue ball, since this moment it is growing at an unfathomable speed. And let supposed financial analysts unanimously say that this is a “soap bubble”. Central banks and governments continue to think about how to adopt this financial asset, and people continue to invest money. Therefore, do not wait until this hype passes and Bitcoin gains its popularity and stops growing very quickly.

On the other hand, if you have already invested in Botcoin, a situation may arise when, at the time of completing the transfer/purchase/sale of a coin, the software freezes. In fact, it goes like this: the transaction enters the unconfirmed phase. Then how to mark an unconfirmed Bitcoin transaction? What steps should be taken in this case?

The network is very busy. Today, unconfirmed blockchain transactions appear frequently. Few people can cope with such a problem.

In many ways, the error lies in the commission itself (but there can be many reasons). In order to check definitively, you should find out: did the system reject the application in the blockchain itself or not?

Perhaps it so happened that the blockchain took on many individual applications at once. This put your application in the queue (especially those who have minimum commissions, since these transactions are the last in the queue). In principle, this is a normal phenomenon and you can try to wait if the transaction is stuck. But if there is no time (you need to make the transfer as quickly as possible), you will have to cancel the transaction in order to create a new one (the next one).

What actions should be taken in this case?

1. The first step is to move to Blockchain. There the user must already understand whether Bitcoins have been written off or not. If not, this is an unconfirmed transaction;
2. If such a transaction has formed, you should go to the “Console”;
3. If the account is encrypted, you will need access to it. Otherwise, all manipulations are meaningless;
4. A key will be created for the address that was selected. We see the line . Replace the word in brackets with the required address. Copy and save the key somewhere, it will be useful in the future;
5. It is worth leaving the client's office. Next, we delete the wallet, but we don’t do it completely, we just move it or change the name (usually, such manipulations help);
6. Restart the client. He must create a new wallet. As soon as the process is completed, type importprivkey in the console We insert there the key/keys that we saved earlier (we simply import them with this function). It is worth noting in advance that the procedure takes a very long time, but it must work, otherwise it will not be possible to complete the transaction with Bitcoins;
7. The main sign that the operation was successful is that old data will appear in the wallet. In addition, the page will show the entire transaction history.

That’s it, now all that remains is to carry out the entire transaction again, but it is very important to make the commission larger so that this kind of thing doesn’t happen again. Therefore, if you have an unconfirmed Blockchain transaction and you do not know what to do, pay attention to the above information. All the main steps are outlined here.

A situation where you mistakenly sent money to a card to the wrong recipient can happen to anyone. What to do if you entered the recipient's details incorrectly and want to return the transferred funds back? When is it permissible to challenge a transfer and cancel a completed transaction? You will learn the answers to these and other questions from the presented publication.

What should I do if I transferred money to the wrong card?

Sberbank hotline phone number, relevant for all cellular operators in Russia: 8 800 555 55 50

Today, many banking institutions provide their clients with the opportunity to change or recall an incorrectly executed payment. For example, Sberbank offers to do this with the help of an employee over the phone or through the Internet banking system on the official website of the organization.

There are several options for canceling a money transfer transaction:

• at the nearest bank office;
• by calling a special support number;
• through online banking.

In order to successfully withdraw a transfer, you need to know basic information about the transaction. To cancel a transfer of money or from a VTB card to Sberbank over the phone, follow these instructions:

• Dial the number hotline 8 800 555 55 50 (phone number is the same for all operators mobile communications, including MTS, Beeline Megafon and others).
• Tell the specialist about your problem and ask to cancel the payment.
• Answer all operator questions with the following basic information:
  your personal data (full name, passport number and series, residential address); number of the card (account) from which the shipment was made; plastic details entered incorrectly; the amount sent and the exact time of the operation.

For safety reasons, operating procedure financial companies organized in such a way that all transactions are necessarily verified by employees. And if you promptly report the mistake, the transaction will be blocked and the money will not be debited.

Cancellation instructions money transfer through the Sberbank Online service looks like this:

• Go to the official website of the organization (sberbank.ru);
• Go to your personal office by logging in with your username and password;
• Check the status of the invalid transaction. If it is listed as “Processing”, then click the “Cancel” option, after which “Withdrawn” will be displayed opposite the payment.

This procedure is suitable for both transfers from credit and debit products.

When the operation has already been completed, the following course of events is possible:

• you indicated details that do not belong to anyone - the poisoning will automatically be returned within 10 days;
• the specified card number belongs to a real user - you will have to contact the company’s office with an application to cancel the transfer.

It is quite possible that you will have to correct the situation in judicial procedure, If financial institution will not satisfy your request.

Deadline for canceling a transfer

If a translation error is discovered, you must act immediately. As soon as the mistake has been identified, without wasting any time, call your organization's customer service line. If you were careless when transferring funds from Sberbank via your phone, then dial the hotline number 900, which is valid for all Russian telecom operators. Since the maximum time for transferring funds in most cases is set within 3 days, you have the opportunity to freeze the shipment during this period. The sooner you detect a problem, the greater your chances of success.

As for the time it takes to return cash, this process can be quite lengthy. The period for crediting funds back to the sender’s account depends on how the transfer was made (via an ATM, Mobile bank, Personal Area on the official website, etc.) and how soon you contacted the operator for help. You can familiarize yourself with the methods of transferring money from card to card by card number and transaction fee

• If the operation has already been completed, you will have to write an application for a cash refund at the institution’s branch and you will receive the money back within 10 calendar days.
• If you managed to cancel the transaction before it was processed by the system, then the funds will be returned within 3 days.
• When the transfer process was stopped with the help of support service specialists, you will receive the money in 3 to 5 days.

When is it impossible to cancel a card transaction?

Many people are interested in the question in what cases to cancel a transfer to VISA card does not seem possible? It may not be possible to get your money back when you discover too late that you made a mistake when writing the details and your transfer went to the card account of another person. In such a situation, you can try to contact the person to whom the money was transferred and ask to return the amount sent by mistake. If the citizen turns out to be conscientious, then there will be no problems. Otherwise, the case may go to court.

Cancel an erroneous transfer to a Mastercard card may not work out for the same reason as transferring other payment types to plastic – the deadline for contacting support was missed.

However, be aware that according to Civil Code, every citizen has the right to return own funds, which were unlawfully appropriated by another entity. Read about what to do if you mistakenly transferred money to scammers in the next section.