Bitcoin Forum

Guys,Any one have any Solution to the high transaction fees at Bitcoin?
recently I see blockchain charge high fees.I am not transaction high bitcoin volume if this fees high I have to left using bitcoin.Also confirmation time sometimes very odd to me.

Thanks for pointing this out. I wish more people would point out the complete change of fee policy is a fundamental change to Bitcoin. The higher the fees to use bitcoin are, the fewer people will use it.

If the blockchain info charges you high fees, and you do not like that. You can stop using the blockchain and choose another service provider.

Correct, a direct to the point and a precise suggestion. Blockchain does charge you high fees compared to others if you dont like  high fees then switch to other wallets as simple as that. Well it depends  on your preference some may consider on the  security of their coins and doesnt mind about the fees.

Thats true, Andreas Antonopolous said many times "the other 3 billion people", that refers to banking services in asia and africa.
Problem is, this fees are really high for them.... for one time big money tranfers fees are low, but day to day use would be problematic.

this is correct, stop using blockchain.info wallet if they are charging you larger fees than what you are willing to pay but just don't forget that if you pay very low fees your transaction might get some time before it gets confirmed.

if you don't like using bitcoin because of high fees, then you should think again. do you want to send money thru banks everytime you need to and pay much more higher than <$.1 in bitcoin?

Try to use another wallet, i personally use Xapo and never had any problem with transaction fees or i guess they don't charge any fees on small transactions or maybe they charge just a little that you don't notice.

Why don't you use core wallet? It is easy to setup. You just need to wait for a 80gb download and that's all. You can even send your bitcoins for free, if you are in luck. And the most important thing is, you won't have to worry about if blockchain gets hacked some day. (you will worry about if your computer gets hacked instead :))

Well, it's related to the security and service I think. They charge high fees due to it's quality since a few site get hacked and everyone lost their bitcoin, so if you don't want get high charge, it like they said just use another wallet like xapo or core wallet with 80gb download   ;D.

I use the official Bitcoin android phone wallet from the Play Store and I can set the fees to 'Economic', 'Medium' and' High'. The fees are always dust, even on High priority fees, and the economic fee equals to around 1.5 cent for smaller transactions. It does take some time to get confirmations on Economic fees, but it is really smal, I always use Medium fees and it equals to like 3 cents for smaller transactions as 5€ to around 8€ and I get confirmations in less than an hour.

I have no idea what OP is talking about.
The fees are totally normal and fine. Instead of complaining about something what isn't a problem he should think about switching to another wallet. Blockchain.info is pure crap. Use Bitcoin Core or one of the favorite light wallets like Electrum with dynamic fees.

In other wallets you can adjust your fees by yourself. For example if you have electrum go to Tools-Preferences and remove the dynamic fees although this is not recommended as electrum choose the best fees for you but just in case you untick this option and decide for yourself the fee you want to pay. It should be more than 0 as the network usually rejects such transactions.

you should know that fees are not determined by the "volume" you are transacting but based on the "size" of the transaction itself in bytes.
you should post a txid in order for others to give your correct answer but I am assuming since you sound unfamiliar with bitcoin that you have a lot of inputs in your transaction possible a lot of dust gathered from faucets. the bigger the number of your inputs the bigger the size of the transaction so the higher the fees you have to pay.

Some bitcoin wallet don't have fees try to use what your country recomended to use because here in my country we send bitcoin without fee's and we withdraw are money or we change our bitcoin into cash without fees we can also send bitcoin/money world wide without fees and thats the good reason why i start bitcoin :)

Nowadays, you can set the fees manually while using blockchain. I made some transactions via my blockchain wallet and I use 10k satoshi as the fee from most of my transactions. If you dont know how to do it, just click 'advanced send' when you make a transaction!

I'm just being curious, as far as I know in any exchange platform there is 2% charge/per transaction, some are fix to 0.0005 sats. every time you withdraw your balance. If I am going to compare it to other company. The charge fee in bitcoin for me is considerable has low charge fee. Well that's was for me only.

Gambia wont Ever use bitcoin. 1tx fee of 0.0001 is half an hours minimum wage labour
Kyrgyzstan wont Ever use bitcoin. 1tx fee of 0.00016 is an hours minimum wage labour
bangledesh wont EVER use bitcoin.. 1 tx fee of 0.00015 is an hours minimum wage labour
Georgia wont Ever use bitcoin. 1tx fee of 0.00012 is an hours minimum wage labour
Cuba wont EVER use bitcoin. 1tx fee of 0.0001 is over an hours minimum wage labour

uganda wont EVER use bitcoin. 1tx fee of 0.0001 is SIX hours minimum wage labour

but there are many corporation lovers who think that bitcoin should be the tool of the western corporate world where a $5 transaction should be deemed "spam", simply because they want to push people away from bitcoin. for other 'solutions' that include third party managed networks

Can anyone list down wallet that don't have fees.Which one most popular .Thanks.

I see a lot of half-truths on this thread...

When you create a transaction, you must realise this transaction has a certain size. The size increases when you use more inputs and/or have more outputs. The size has nothing to do with the ammount of bitcoins you transfer. You can use 1000 inputs of 0.001 and have a huge transaction, while you can also use 1 input of 1 BTC and have a very small transaction while you're using 1BTC total inputs in both cases.

The fee is calculated based on the size of the transaction. When you add a high enough fee, a miner will be tempted to add your transaction to the block he/she is mining. If you don't add sufficient fees, you run the risk no miner will add your transaction to a block, so your transaction might stay unconfirmed for a long time. Since the fee size is calculated using the transaction size, you might have to pay a huge fee when creating a transaction using hundreds of dust inputs, while a second time your fee is small when using a single input...

Companies like blockchain.info calculate the optimal fee for you. They do not keep this fee, so they have no incentive to make it ridiculously high. They just calculated a fee that so that the chance of your transaction being confirmed soon is pretty good. The fee goes to the miner.

I'm against the usage of web wallets, but even if you use a desktop/hardware/paper wallet that allows you to change your fee, you should probably add sufficient fees to, unless you don't mind waiting.

If you send bitcoin between coinbase internal wallet to another coinbase internal wallet address there is no fee and bitgo instant also says they have zero fee and instant internal transaction. However there is and will not be any online wallet from which you can withdraw or send bitcoin to real bitcoin (other than internal address) address as without fee transactions willn't be verified or confirmed by miners for free and transaction will get stucked for days or get returned back to sender.

No realy much fee at bitcoin. Bitcoin fee was lower than bank. Blockchain is better than bank that is why banks are now try to using technologi like blockchain did. I still prefer like to use blockchain.

In my country, if I do a domestic transfer of money, there is no fee. If I do international transfer, the fee is high.

I am not yet transacting high amounts of bitcoin so i really can't feel the fees you are saying yet. But i think that it is just normal? well if i were still to choose of course i should go with lesser fees.

In my view bitcoin transaction fees are not high. Approximately we just need to the only 0.05% as fee for the amount we are transacting. I just see another thread appreciating about bitcoin's lower transaction fees and here a thread for discussing about solution to high transaction fees.

maybe in pre historic shit holes like the usa. in other places in the world you can transfer instantly and free with your bank account.

There's a simple solution, use some other currency, litecoin, dogecoin are pretty good coins with low transaction fees, you only use bitcoin for big transactions and avoid making any unnecessary or avoid bitcoin at all.

Blockchain fee is 10 000 satoshis, and for that amount confirmation time is pretty fast. In beginning I thought is too much, but its reasonable. We help miners, and for that amount confirmation is faster then without fees.
Its less then 10 cents, lets be real what can you do with that money? I think this is a good way for work, people who take that money will have wish to be even better in the future. Every work deserve to be paid, so I`m ok with any fees as long as its reasonable price.

That kind of fee is quite reasonable. But the confirmation time is still quite slow. It is better to be between 1 to 2 blocks.

Well... I think you can be decrease the fees of transaction before send bitcoins on your wallet, although it will make long time until the transaction be veryfied by miners. Because there are not choice for send bitcoins with free fees, except you sell bitcoins into paper wallet. ;D

First, you should select a wallet that allows you to manually set the fees that you'd like and also probably something that determines the fees for you if the blocks are full. The closest I can relate to is the Electrum wallet. Considering that you don't have the whole blockchain downloaded (could be one of the reasons you're using blockchain.info's wallet), you can use a lightweight SPV wallet that has multiple servers that have the blockchain downloaded within them. With electrum you can set the transaction fee but make sure to check bitcoinfees.21.co for the appropriate/cheapest and fastest transaction fee. If you're at no hurry you can specify the next slowest transaction fee which will be even cheaper. Also the transaction fees mentioned by default in there is for 'per byte' you'll need to calculate your transaction size and then derive the fee. Always go for the fee's in green and ignore the ones in red.

Also remember as more and more people start using Bitcoin and as miners get busier they'll only start considering Bitcoin transactions with fees and as time progresses this fee will increase. You'll just need to consider this as a donation or incentive to the miners for their large investment made to mine. Right now miners receive Bitcoin mining reward but in the future this reward will be so small such that they'll have to sustain with higher fees.

This is one of the problem bitcoin solve, transaction fee is the same anywhere  in the world.  From point a to point b whether it is local transaction or international transaction  the transaction fee does not change.  Another good thing with bitcoin is the security.  Since hacker will have a hard  time to hack your bitcoin wallet and use the coin inside that wallet.

hoestly i am not a blockchain user anymore i left using their wallet many months ago or maybe 1year ago. i have tested a lot of wallets and i am now stucked with mycelium wallet its an android based wallet and its a light wallet i pay very low tax in it something like 4000-7000 or even 9000satoshi sometimes for each transaction depending on the amounts like 0.03btc-0.15btc and it is also a zero confirmation wallet so i do not have to wait hours to access my balance i can use it in seconds

I beg to differ, the average tx fees of banks in Africa is still higher than bitcoin will ever be. The banks bundle the tx fees, with other

service fees, so they make it terribly hard for clients to see what the real tx fees are. If you use Bitcoin without third party service and

wallet providers, the fees will always be much lower than any bank or remittance service in Africa.  ;)

doesn't need a solution to high transaction costs, the transaction fees charged for send bitcoin is already at a low point if you use blockchain currently they only charge satoshi 10k ++.

0.00010000 =$0.06

thats an hours labour in a few countries.
bitcoin was suppose to have no barriers of utility/entry.. yet i cant see anyone being happy if they were told it would cost an hours labour just to move funds.

yes it gets "profitable" to use if they want to move 50x the fee in one go. because thats 2%, compared to visa/mastercard/paypals 2.5%.

but then bitcoin only becomes useful to move a weeks wage, and not really worth using to spend on anything smaller then a weeks wage.
and this is why bitcoin is only being used day to day by the developed countries, while developing countries dont use bitcoin for its intended purpose. but will try scamming users, spamming users to get their hands on a few cents via ponzi's, sig campaigns and faucet raiding

I find the transaction fees for bitcoin very frustrating sometimes, I often send small amounts of bitcoins multiple times and end up paying huge fees. One solution I found is to use Xapo, they cover the transaction fee so this may be a good solution.

XAPO? but I may suggest if in this time the users of xapo are having a problem with it. But I never try the wallet doesn't have fees.

https://bitcointalk.org/index.php?topic=925838.0

but without a fees you will never get a confirmation.

In my country, you can transfer free and almost instantly inside the country. The international transaction is expensive.

If you're feeling not good for this current blockchain fees (which is actually normal) then I suggest you to avoid doing a small amount transaction, by that I mean you have to do a transaction when you really have to do it. If you have to buy something with your Bitcoin but it just requires a small amount let's say you want to buy an apple which costs 0.001BTC, then you should wait til you got enough money for buying it in a bucket which usually has a lower price so you'll just have to pay the fee once.

i am glad to see others are saying the same thing as i have been thinking too. the same thing is true here.
i have never made an international transaction so i don't know how that is going to work,
but as far as inside country transactions like between banks, and from one person to another there are ways you can use with 0 fee and there are ways with a fix amount of fee as big as 10 cents or less and they are instant.

I don`t have a problem with the transaction fees and i don`t know if only blockchain charges high fees.

Just don`t use blockchain and move to another service.

I guess  this is a problem of every currency payment system.

The transaction fees are small when it launches and start to rise.