Sent a low fee transaction to my cold storage from blue wallet. Still not confirmed. What do I do while I wait? Or is there a way to fix this
Discussion
To speed it up, you can make a second transaction that spends the output that youâre waiting on back into another cold storage address. The fee on this âchildâ transaction can only be claimed by a miner if they also mine the parent transaction.
This technique is called âchild pays for parentâ (CPFP). Just make sure the fee on the child is enough to make the pair of transactions competitive.
To make a CPFP transaction, your cold storage wallet software will have to support coin selectionâwhich allows you to pick the specific UTXO that you want to use as an input.
How do I do that if my balance says 0 on blue wallet ?
You need to use wallet software that will show you unconfirmed transactions and allow you to select those transactionsâ outputs for spending.
My favorite such wallet is Sparrow. Electrum can also do this. Not sure about other wallets.
If it was me, I would:
1. Install Sparrow on a trustworthy desktop/laptop*
2. Create a new wallet in Sparrow using whatever signers (hardware wallets) you use for cold storage.
3. Confirm that you can see the expected cold storage info (address matches the one you sent to from Blue Wallet, funds are the expected amount, etc.)
4. Use Sparrow to create the CPFP transaction.
If youâve never used Sparrow, probably best to practice by making a dummy wallet and playing around with small amounts first. Creating a CPFP transaction is a somewhat advanced maneuver.
* Verifying GPG signature as is customary.