How to cancel Ethereum transactions_How to trade for Ethereum novices

Ethereum transactions can be cancelled in a pending state. 1) Use MetaMask and other stored cancellation functions: find the transaction in the "Activities" section, select "Cancel", and confirm the cancellation through a new transaction with high gas fees. 2) Cancel with custom nonce: Advanced users can find the nonce value of the stuck transaction through the blockchain browser, and then send a new transaction with the same nonce but high gas fees to replace the original transaction.

Ethereum transaction cancellation method

If you want to cancel an Ethereum transaction, the premise is that the transaction is in a pending state and once the transaction is confirmed on the Ethereum blockchain, it cannot be cancelled. Here are some common ways to cancel:

• Use stored in-app features (taking MetaMask as an example)
  • Open MetaMask Save and find the pending transaction in the Activity section.
  • Select the Cancel option.
  • Confirm the cancellation by signing a new deal with higher gas fees. This method sends an alternative transaction with the same random number as the pending transaction but without any value or data, effectively overwriting the original transaction.
• Cancel transactions with a custom nonce (for advanced users or storage cancel option is not available)
  • Find the random number of stuck transactions: Use the blockchain browser to search for your storage address, find the stuck transactions and record its random number value.
  • Send replacement transactions: Turn on your save and enable the Custom Random Numbers feature in settings; create a new transaction to your own storage address, set the same random number as the pending transaction; set the gas fee higher than the original transaction to ensure priority. Once submitted, a new transaction will replace the pending transaction.

Ethereum novices trading tutorial

• Preparation
  • Select storage : Choose a safe and reliable Ethereum storage, such as MetaMask, Imtoken, etc. Download and install the storage application, create storage as prompts, and properly keep the stored private keys and mnemonics.
  • Register a trading platform : Choose a well-known Ethereum trading platform, such as Binance, Huobi, OKX, etc. 6 . Complete relevant procedures such as registration and real-name authentication to ensure account security. The operation procedures of different platforms may be slightly different, just follow the platform prompts.
• top up
  • Purchase Ether : If you don’t have Ether yet, you can purchase it on the trading platform through fiat currency purchase. For example, use bank cards, Alipay, etc. to convert legal currency into Ether. Some platforms support direct purchase, while some platforms may need to first exchange fiat currency into stablecoins (such as USDT) and then use stablecoins to purchase Ether.
  • Recharge to storage : Recharge the Ether coins purchased on the trading platform into your Ethereum storage. Find the "withdrawal" or "transfer" function on the trading platform, enter your storage address, and follow the prompts. Please note that the withdrawal process may take some time to confirm and a certain handling fee may be charged.
• Trading operations
  • Select a trading pair : Log in to the trading platform and enter the Ethereum trading page. Select the Ethereum trading pair you want to trade in in the trading pair list, such as ETH/USDT, which represents the trading pair between Ethereum and the stablecoin USDT.
  • Order trading : There are two common ways to place orders, namely limit orders and market orders. A limit order is where you can specify a price, and the order will be executed only when the market price reaches or is better than the price you specify; a market order is to execute the transaction immediately at the current market price. Based on your judgment of the market and trading strategy, select the appropriate order method, enter relevant information such as transaction quantity, and submit the order after confirming that it is correct.
  • Confirm transactions : After submitting an order, the trading platform will ask you to confirm the transaction information, including transaction pairs, prices, quantities, handling fees, etc. Carefully check the information to ensure accuracy and click the "Confirm" or "Submit" button to complete the transaction.
• Post-trading operations
  • View transaction history : After the transaction is completed, you can view the transaction details in the transaction history of the trading platform or the stored transaction history, including transaction time, price, quantity, handling fees, etc.
  • Extract or store Ether : If you want to withdraw Ether to other storage or long-term storage, you can select the "withdrawal" function on the trading platform to send Ether to the storage address you specified. If you want to continue trading on the trading platform, you can leave Ether in the platform's storage, but pay attention to the security and relevant policies of the platform.

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