Ever tried to purchase a popular ERC20 token in the DeFi space but the transaction was taking too long and not sure what to do because the gas fee you selected was perhaps too low. Now you can use the SafePal ETH Transaction Optimizer to cancel previous transactions that haven’t gone through on the blockchain.
This feature is only available once an ETH transaction has been stuck after at least 10 minutes.
When do I need the ETH cancellation feature?
The ETH blockchain only supports 1 transaction order at a time therefore if the previous transaction did not go through or is still pending. The following transactions that you attempt to perform will be clogged and bottlenecked by your first transaction that is still pending. Thus we would have to cancel this transaction that is causing the bottleneck.
The second reason may be the fact that you have misplaced this transaction and would like to cancel this mistakenly placed transaction. You can only cancel transactions that are still pending, you can not cancel completed transactions.
How to cancel an ETH transaction?
Step 1 View your pending ETH transaction
On the ETH(Coin) page, you can view all pending transactions.
Step 2 Select the action you wish to proceed with the pending transaction
On the Detail page of a pending transaction, select Cancel button
Step 3 Cancel the ETH transaction
Enter your SafePal Wallet security password to confirm the cancellation