The Child Pays For Parent (CPFP) Calculator is available here.
It is designed to assist you in selecting the appropriate fee to expedite the confirmation of your Bitcoin transaction.
Here's how to use it:
- Generate a new Bitcoin Address for the recipient's wallet (if you prefer, it can be the same wallet).
- Send some or all of the unconfirmed balance (from the parent transaction) to this address, ensuring that RBF (Replace By Fee) is enabled. Be very careful to send to the correct address.
- Retrieve the new Transaction ID (TXID), which is now the 'Child' transaction, and enter it into the CPFP calculator.
- Enter the desired sats per virtual byte (sats/vb) amount. We prefer our very own mempool instance (mempool.bitaroo.net), but you can use any blockchain explorer website you prefer.
- Press 'Enter' and allow the calculator to run and inform you of the exact satoshi amount you need to include in the Child transaction.
- Perform RBF and increase the fee on the child transaction using the satoshi amount from the calculator, and then broadcast it.
By following these steps, you can efficiently use the CPFP Calculator to manage your Bitcoin transactions.
-----
Parman has made a video demonstrating how to perform CPFP using our CPFP calculator.
We hope you will find it useful.