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In certain cases you may want to cancel or replace a transaction, for example, when you used a gas price that was too low. Especially in times when gas prices are relatively high, you may want to increase the gas price of your transaction, to make sure it will be confirmed quickly.
This works by sending a transaction with the same nonce as your previous transaction. Transactions must be confirmed in the order of the nonce, starting from 0, so if you re-submit a transaction with the same nonce and a higher gas price, your previous transaction will be overwritten. There is still a chance that your previous transaction is confirmed first, in which case the replacement transaction will be invalidated.
Please keep in mind that at this time, it is only possible to cancel transactions that were not conducted with a Web3 provider such as Metamask. See here if you wish to cancel a transaction that was performed through MetaMask.
Either after sending a transaction, or after checking the status of your transaction, you will see an option to cancel it.
After clicking the "Cancel transaction" button, you'll see that you will send a 0 ETH transaction, which will replace the pending transaction.
Make sure that everything seems right, and hit "Confirm and Send". Your transaction to cancel the previous transaction will be on its way, and should be mined shortly.
You can speed up transactions from the interface.
If you'd like to replace a transaction to get it mined quicker, you can speed it up right from the interface.
Go ahead and send the transaction with the "Next" button. You can check the status of your new transaction on Etherscan, or on the transaction status page.
If all went well, your original transaction should be cancelled or replaced once the new transaction is confirmed.
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MyCrypto is an open-source tool that allows you to manage your Ethereum accounts privately and securely. Developed by and for the community since 2015, we’re focused on building awesome products that put the power in people’s hands.
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