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In most cases, the cryptocurrency transactions you send will confirm normally without any problems. There are some circumstances, however, that may lead a transaction to be unsuccessful and fail. When this happens, the transaction is considered rejected. In this article, we’ll explain what this means, why a transaction may reject, and what happens to those funds.
The role of fees
To explain rejected transactions, we’ll touch on the purpose of fees first. The fees you include with your transactions are collected by miners (stakers in Radium’s case), which are responsible for confirming transactions on the network. A higher fee will help increase your transaction priority, so it is likely to confirm more quickly. In contrast, a lower fee means it may take longer. If the fee you include is too low, there is a possibility miners will not consider it worthwhile to validate. When this happens, miners will reject the transaction.
Reasons a transaction may be rejected
Too low of a fee (or using no fee at all) is one of the most common reasons why a transaction gets rejected. When too low of a fee is used during periods of network congestion, this can increase the likelihood it will not successfully send. Because of how cryptocurrency networks are designed, we have no power to prevent a pending transaction from being rejected. It is entirely up to miners.
My transaction was rejected. Now what?
Unlike confirmed transactions, rejected transactions do not appear on the blockchain. When a transaction is rejected, it’s as if it never occurred in the first place. In fact, the sender will see those funds instantly re-appear at the address they attempted to send from.
Before you attempt the transaction again, you’ll need to make sure your fee is sufficient. An easy way to do this in the Radium Core Wallet is to choose a regular fee. Our Wallet automatically calculates the most appropriate fee for you based on current network conditions and aspects of your transaction. For urgent transactions, a priority fee will help make sure your transaction confirms more quickly. Unless you’re an advanced user, avoid setting a custom fee. If the custom fee is too low, your transaction may reject a second time.