Bitcoin Forum

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depends...
the recommanded fees depend on a couple of factors:
- the number of inputs used to create outputs
- the number of outputs
- the age of the inputs
- how long you're willing to wait (on average) to get added to a block

both the number of inputs and outputs make up the transaction size, the bigger the transaction size, the more fees will generally be needed. The size has nothing to do with the ammount of coins you're trying to send!!! it can be cheaper to send 100 BTC in a transaction with 1 input and 1 output than sending 0.00001 btc in a transaction with 10 inputs and one output.

basically,
if you try to use a minimal ammount of inputs and create a minimal ammount of outputs with inputs that were untouched for a couple of months, and you're willing to wait several hours to get included into a block (on average), you can add substantially less fees than when you're using a massive ammount of inputs that were just recently added to create a large ammount of outputs, and you want a reasonably chance of getting added to the next block.

One quick fix would be to let the coins age for a while, and try to generate multiple outputs in one transaction... This way, the single transaction will have a larger size, but the size will probably be smaller than the combined size of the individual transactions you otherwise would have made

microtransactions was always a problem, what if i want to send 10k? i need to pay other 10k? that's stupid, it need to be fixed in some way, and sending with no fee is worse, because coins will never arrive

but with no fee there wont be any use for the miner or?

For small amounts, you need to use a wallet that charges no fee. Xapo is a wallet that can be used (it charges no fee from its users and adds its own fee to confirm these transactions) else for bigger transactions, blockchain is the best.

Yup. Your only option is somewhere like Xapo that swallows the fees. I've no idea why they do it and how long they'll carry on doing it for, but it's a useful service for piddly amounts. Perhaps the lightning network will allow micropayments to go wide but I've no idea how.

you're both correct, xapo does pay the fee for you. This doesn't mean there is no fee to be payed, it just means xapo pays the bill. Personally, i'm rather weary of such services, if you're not paying, you're the product...

I don't know how they do it, but in order for their business model to be successfull, they have to make money from your account if they're willing to pay for your fee.
This is just my personal sentiment, it's not backed by any mathematical proof.

You can send 0.0001 BTC as transaction fee, so problem is solved. Keep in mind that you can have more than 24 hours for complete transaction.  :)

You can send multiple times in the same transaction, it's the best way to reduce tx fees if you send a lot small amounts. And using the minimum required fees of 0.0001 is best, instead of using the dynamic fees.

I also often send bitcoin small amounts, but nonetheless his fee is not reduced, just like I sent some bitcoin. I think there's a certain amount of the fee depends on the BTC that you send

I'm not sure if i completely agree... A miner will look at the ammount of satoshi's per byte. If you use a lot of inputs and outputs, and the mempool is rather full, a 0.0001BTC fee might be waaaay to low, while at slow moments, creating a transaction with one input and one output and aged inputs, 0.0001BTC as a fee might be waaay to high.
I usually either use the dynamic fees my electrum wallet calculated, or i visit https://bitcoinfees.21.co/, look at the size of my transaction (in bytes) and multiply the ammount of satoshi's to get a fast or slow average inclusion time by the ammount of bytes (size of my tx).



No, the fee depends on the size in bytes of your transaction. If you create 1000 transactions with one input and one output, you'll pay the same fee as if you'd send only one (there is no discount).
The thing is, if you create one transaction with, for example 200 inputs and 1000 outputs to replace the 1000 transactions with 1 input and 1 output, you'll usually pay a lot less fee (unless in very rare occasions).

The size of the transaction has NOTHING to do with the ammount of bitcoin you wish to send!!! The only thing is: if you send $5 worth of bitcoin, adding a 50 cent fee is huge, if you're transferring $1000.000 worth of bitcoin, adding a $10 fee is peanuts... That's why i've seen some people adding a way to high fee for bigger transactions. They just outbid everyone, and have a really, really high chance of getting added in the next block (still not 100% tough)

Just search for a wallet that doesnt charge you for that...
There are a few good wallets with no fee's for these transactions.

xapo only pay transaction fee(or do it for free) when you send to another xapo address or when you send btc via xapo email address, to all other wallets, xapo reduce 20K to 30K fee from your wallet, xapo don't give trx link but if you add the btc address on the blockchain and look that, you'll see that xapo cast fee too.

It takes time to confirm and if you need it to confirm fast, that could happen only when you add a fee and since you need to transfer a small amount, there would be no option except to wait. Unless you are transferring the bits within the wallet, like a Xapo member transfers bits to another xapo member, it takes a second else an hour.

The aged inputs are important only for free transactions, but because there are only few free transactions confirmed everyday, I would not give much hope free transaction confirms at all, yet in timmely manner OP need.

If you make very small fee and you have very aged inputs your transaction has slightly higher chance to be added if miner choose free transactions which your transaction might satisfy this condition as well, but not many miners ever consider relaying free transactions since Bitcoin Core 0.12 is widely used...

i've already checked it, and that never happened to me..

in fact... i've just send a small amount to poloniex and verifyed at blockchain, no fees(not to me, they are paying the fees)..

Only problem with that option would be that the other parties will have to have a wallet on Xapo too, or they will never see those funds. The fee will also apply to those tx's when you go back onto the

Blockchain. These tx's are done off-chain on Xapo's servers and then you can export the total to the life Blockchain. I hope to see some Blockchain solutions soon with side chains, that would replace

services like Xapo.  ::)

You can choose to avoid paying fee completely if it was 2013 and we had n number of miners.Times have changed,block rewards are low,solo miners can't really afford doing stuff for free while paying a good amount for electricity charges.If you just google a bitcoin transaction calculator ,you will be presented with a lot of options.Although I advice you to pay a little more then the calculated fee if you don't have the patience to watch your transaction getting accepted by the node on low priority basis.

There is coinbase wallet in which if you pay between coinbase wallet addresses you don't have to pay fees and also there is one bitgo instant wallet which is accepted in some sites by now and it also works similarly like coinbase with no fee to do transaction in bitgo accepted sites.

I am using xapo for a long time and my balance has never reduced. It's the same after sending the bitcoins. They give their internal trx ID when we send bitcoins to an external address and if we have any doubts, we can use the same while contacting their support.

They add their own fee while sending bits and it is because the money in our xapo wallet isn't the same as we can see on blockchain. They keep rotating the funds from our account but we still own them at the end of the day.

They pay the fee on behalf of the user but they earn from it as xapo is itself an exchange service which allows you to buy bitcoins (but higher than the market rate). They send multiple transactions together and include a fee of 0.0003 BTC to get the transaction confirmed soon and they don't lose any money.

Exactly,i think newbie or begginer must be know about some wallet and their benefit,its will give them information and knowledge,some wallet put almost no fees,like coinbase,xapo and others. knowing about many wallet also will gve benefit for newbie to more sure about which wallet will used by them.

If you want to avoid paying a fee use a bitcoin wallet that don't need transaction fees to send like xapo. Or try some different wallets and find out if they have a transaction fee or not. I personally like xapo because it's minimum amount to send is 55 bits or 55k satoshi. But i always check its receiving address because it is constantly changing for security purposes i think.

I am afraid your only option is by manually adjusting the fee to 0.00001 BTC but this can take quite a lot and sometimes even be rejected from network. A minimum amount I have payed is 0.00005 BTC as a fee but I rarely do this, I let electrum do the correct fees for me automatically which results in using larger fees than other wallets but transaction got confirmed real fast compared with other wallets.
I recommend you don't do a lot of transactions with 0.001 BTC, you can accumulate and use a minimum of 0.005 BTC as transaction. However there is no clear answer to solve your problem.

Hello,
You can use xapo wallet to avoid transaction fee,also if you want a low fee on any wallet you need to wait more time for a confirmation.
With xapo wallet you not need to pay any fee and you will receive one confirmation fast.

I am using xapo and there I did not have noticed any fee while transacting bitcoins to any address. so I will suggest to use xapo.

Hi everybody.

Is registration of phone number mandatory with xapo wallet? Is there any way to avoid registering a phone number?

Thanks

you can use also direct bet wallet or even other wallet from this type of service... But you run a risk... you are not the really proprietary of your priv key/btc stored!

That's exactly what i was thinking...

There is no way to avoid registering your phone number.

That's because they are using their off-chain systems..

This is wrong. This fee does not guarantee anything. When you are talking about fees, you need to talk in satoshis/byte included. If you don't do that, and use fixed numbers you will be mistaken (quite often). A fee X might be enough for a one transaction, but it might be too low for another one (due to differentiating sizes).

If you want anonymity, stop using online wallets. It is as simple as that.

It has it's drawbacks... The person you sending the bitcoin to, must also be registered with Xapo to get that benefit of the lower fees. This only happens, because this transaction is not done on the

Blockchain... We call it "off-chain" transactions. If the person is not registered with Xapo, the transaction will be done on the Blockchain and then regular fees will be charged. I am very curious to know,

why someone would want to send small amounts like that on a regular basis... this will cause problems in future, if these small amounts are send to the same address.  ??? ??? ???

If you send all the transaction in one input than you can make payment go through with as little fee as needed for one transaction.

Yes, register/adopt to a new wallet service that has very less to no transaction fee for making sending bitcoins.

With XAPO you need not to pay any fee. With bitcoin-qt or bitcoin core wallets you can set fees to zero, but not sure when your transactions will be included in blocks to get conformations.

Sometimes the  minimum transaction fee is 0.0001 BTC I can't think of anything that could be lower than that.

Bitcoin transaction fees is also really headache for me right now as a small trader. I use blockchain most of time when I need to trade with someone and need to get confirmation hurry. XAPO wallet is the best if you want a small transaction because there is no transaction fees but they will process your transaction from their addy combined with other people's transactions.

when it comes to transaction fees, Bitcoins is the  lowest charge fee ive ever
encounter compare to other transaction that i did and aside from it there is a rebates too.
so what else can i ask for, :)

100,000 satoshis worth 74 cents today which is not a small amount anymore, from my experience i would suggest you to move to another wallet where you don't have to pay for transaction fee which are coinbase or xapo. I have used coinbase and it does pay the tx fee and does not deduce from your balance.