0

I am very noob in bitcoin world and I have invested at one of the BTC trader.

After trading and making profit I did the withdrawal transaction of rupees 5220$ And suddenly it went in pending state.

After sometime I got email my transaction went in Mempool.

Can any one tell me what is Mempool and how can I get my withdrawal clear from it.

0

2 Answers 2

1

I believe your BTC trader is a fake. They are a confidence trickster. They are trying to confuse you. They will ask you to pay an extra fee, they will keep inventing fees until you realise they do nothing but take money.

For reference, all Bitcoin transactions are copied across the Bitcoin network and every computer in the network keeps a list of unconfirmed transactions. This list is often called the mempool. Every computer with normal Bitcoin software has its own mempool. All transactions go into the mempool until they are confirmed. This is an unimportant detail. Your fake trader is only mentioning it in order to confuse you.

If a genuine trader was negligent and specified a very low transaction fee, the transaction might take longer than normal to be confirmed. It is the trader's responsibility to take whatever action is needed. A genuine trader would not need to tell you about this and would not need to increase any fee you are paying - all withdrawal fees should be fixed in their terms and conditions and should never come as a surprise to their customers.

No genuine business ever need to initiate email communication with a customer for such matters.

See

0

The mempool is the queue of unconfirmed transactions. If the message is accurate, it means that the sender submitted the transaction to the network and it is in queue to be included in the blockchain. If the sender included the transaction identifier (or "txid") for the transaction that pays you, you can use that txid to check the status of the transaction, e.g. on mempool.space.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.