Pending Transaction — What Does It Mean in Crypto?

In cryptocurrency, a pending transaction is one that has been submitted to the network but has not yet been confirmed and added to the blockchain. It is a normal part of the process, as transactions enter a temporary holding area (the mempool) and wait for miners or validators to include them in a new block. Common reasons for a pending status include network congestion and a low transaction fee, which can cause delays.

Why are transactions pending?

• Low fees: Blockchains prioritize transactions with higher fees, so if your fee is too low, miners may skip your transaction, causing it to remain pending for a longer time.
• Network congestion: If many users are transacting simultaneously, the network can become busy, leading to delays as there is less available space in new blocks to process your transaction.
• Slow block times: Different blockchains have different average block times. For example, Bitcoin's block time is about 10 minutes, and a transaction must be included in a block to be confirmed.
• Insufficient confirmations: A transaction is only considered final and irreversible after it receives a required number of network confirmations.

What to do if your transaction is pending?

• Be patient: Most pending transactions will eventually confirm.
• Check transaction fees: If your transaction is stuck for a long time, the fee you paid might have been too low.
• Use a blockchain explorer: You can check the transaction's status and progress on a blockchain explorer, which shows how many confirmations it has.
• Consider a replace-by-fee (RBF) (for some cryptocurrencies): For Bitcoin and some other blockchains, you may have the option to replace a pending transaction with a new one that has a higher fee, speeding up its confirmation.