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Replace-by-fee (RBF) Ethereum
Replace-by-fee (RBF) is a method that allows users to replace one version of an unconfirmed transaction with a different version of the transaction that pays a higher transaction fee, which allows you to bump the fee on unconfirmed sent transactions to achieve quicker confirmations.
Given the fluctuating costs of average gas fees, Ethereum transactions have been costing some users tens or even hundreds of dollars a pop. Now, with RBF enabled for ETH, you can send a transaction at a comfortable price and later increase the fee if there is trouble getting the transaction to confirm.
To continue and confirm the newly-set fee hit "Replace transaction" and confirm the new fee on your Trezor hardware wallet.
The previous unconfirmed transaction will be replaced with an identical one that has a higher gas fee assigned.
Given the fluctuating costs of average gas fees, Ethereum transactions have been costing some users tens or even hundreds of dollars a pop. Now, with RBF enabled for ETH, you can send a transaction at a comfortable price and later increase the fee if there is trouble getting the transaction to confirm.
Speed up an Ethereum Transaction by Increasing Gas Fees
If you open your Ethereum wallet in Trezor Suite and send a transaction like normal, you will be shown a new option, "Bump Fee" on the pending, unconfirmed transaction.
If the transaction confirms quickly enough, then great, but if it stays stuck as pending, you can click on "Bump fee" to open a dialogue that will let you change the fee setting.
In the screenshot above, the previous fee of 10 gwei is being increased to 100 gwei, based on average prices at the time.
You can check the current average gas prices using free tools such as Etherscan Gas Tracker, or see how long a custom fee might take using the ETH Gas Station calculator.
Looking at the screenshot below taken from Etherscan we can see, the 100 gwei transaction should take under 10 minutes to confirm.
To continue and confirm the newly-set fee hit "Replace transaction" and confirm the new fee on your Trezor hardware wallet.
The previous unconfirmed transaction will be replaced with an identical one that has a higher gas fee assigned.