Bitcoin Forum

Was wondering, I did a transfer from Coinbase to Bittrex, It was only $40.00. I noticed a fee (after the send) of 0.00146938 thought that was a high fee around $20.00 , is something wrong with that ? did I just get popped big time ? Thanks for the help.

Can you post the transaction ID, so I can give you an accurate answer?

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Regardless of the transaction ID, transaction fees have been quite high recently (due to network congestion) and on top of that, the transaction size itself could have significant saying on this (amount of inputs and outputs, changes the needed fee accordingly).
Transaction fees: https://bitcoinfees.earn.com/#fees

Yesterday I have transfered some funds from the coinbase wallet to localbitcoins. Transaction fees in the transaction is around 0.0017 as compared your fees seen today. Your's somehow decent fee than I faced yesterday. Block size will be increased from tommorow you no need to worry about the fees now because I think will be recovered and all the wallet providers fees will settle down and confirmation time also increased 4x time from now you are seeing. Wait for two days and transact any if you do not have any emergency payment.

Current price of bitcoin is and yeah that was around 20 bucks.

There's nothing wrong with that I do have even some transactions that are paid higher than you paid for.

I have a question for you, is your transaction has been confirmed?

Coinbase current fees (to external address) is playing around (based on my recent transactions) (not more than) BTC0.002 to BTC BTC0.001 nowadays so there is nothing wrong with your transaction. And to my experienced using them, your fees is way more smaller compare to mine on which some of them is closed to BTC0.002 (last witdrawal had been made over a month ago IIRC).

Just a reminder, next time avoid transacting small amount to save fees especially on exchanges like Coinbase.

That is just things are right now, the congestion on the blockchain is quite big and transaction fees are rising due to this. This is done so that your transaction would go through and not be stuck. Everybody is complaining about it, not only you. The transaction fees are quite high and not helping anyone right now but the miners. Problem is it has ruined a lot of people's experience with bitcoin just like OP.

concern trolling at its best - first post lol

Hello and welcome to bitcointalk forum.

As the bitcoin network is being flooded with a large amount of transactions, the blocks are full and only transactions with the highest fees are getting into the blocks.

It means that in order to transfer funds, the sender has to pay a very large fee, so 20$ is a reasonable fee nowdays.

Coinbase charges you that fee and then add it to the transaction.

Fees are generally based on traffic on the networks. If there's a load of unconfirmed transactions, then the fees are going to be pretty high. You want to send your money when the transaction fees are low, or you want to send a large enough amount such that the amount that you're paying for the transaction fees are practically negligible. There's a pretty good place to check the unconfirmed transactions online and here's the link for it:

https://blockchain.info/unconfirmed-transactions

Instead of checking how many unconfirmed transactions there are, which is most likely won't be precise as the block size is by transactions size and not by amount of transactions, you can be looking at what's the average tx fee at the last block and set your fee to be at that range.

Here is a site that may help you with the process:

https://bitcoinfees.earn.com/


Decide what is your priority( less priority means less fee to be paid) and then choose the fee according to the graph displayed at the site above.

No one can help you, because I've experienced the same situation and I have not found a solution. I wanted to take 0.01 Bitcoin and had to pay about 0.0014 Bitcoin . This is very annoying and Coinbase is the sole responsibility of this situation.

Don't act like something horrible has happened to you. I understand that the fees are way too high, but that's not Coinbase's fault. Coinbase uses a fee that matches the current network situation. I use Coinbase myself, and some times it charges me 0.0015 BTC for external transactions, and even 0.002 BTC, while they in calm network situations just charged me 0.0004 BTC in withdrawal fees. People just have to deal with it because it's pointless to complain about it. The only thing you can complain about, is why Coinbase and other major services till this day aren't working with SegWit yet....

Fees are indeed crazy high nowadays. Better just hold on to you btc till a network upgrade happens.

Yeah,its not coinbase fault,the high fee is due to the heavy traffic in blockchain network.But the fee gradually decreases now yesterday I made a transaction they charged me around 0.001 BTC but somedays before I try to do that the fee is around 0.0022 BTC,so the coinbase charge high fee due to make our transactions faster.But the use of segwit address on coinbase wallet will reduce the fee little bit.

From my own experience, the fee about 0.001~0.002 is normal. As we know, the fee for Bitcoin transaction and transfer is so high, and the time for confirmation is so long. Because of the crowded bitcoin network.

Welcome to bitcointalk forum.
No, that's not a mistake. Transaction fees are huge right now. Better solution is, if you can, convert bitcoin to another currency (like LTC, ETH, BCH...) before sending them.

If you do try out to new suggestions on using up Segwit address which would really ease the problem when it comes to fees. It still not low but much more better than on usual thing we are doing on casual transfers. For op you should not be shocked since these things is really happening as of now on where price rise up like hell and making small transactions is just like suicide.

It has to be expected that this development will only accelerate in the future.
The future of Bitcoin (at least the main blockchain / 1st layer) is being a settlement
network for high-value transactions. Micropayments or paying for a coffee will never be
affordable on the mainchain again.

Let´s see how the Lightning Network and the other 2nd layer solutions play out. They might
enable these use cases for Bitcoin again.

how do you think? any other crypto currency can degrade bitcoin?

As the value increases expect the fee will also increase. Yeah it's quite frustrating seeing the fee but we still don't have any choice than to continue transacting with our bitcoin unless you don't want to trade and make profit. Just think that if you lower the fee you'll probably miss the pump and you'll be a crying child later on.

it is very risky when we make a withdrawal regardless of the fee they use for withdrawal.
most sites increase their transaction fee
because this corresponds to the increasing bitcoin price,
but this is not fair if we pull in small quantities

They can't degrade bitcoin.

Bitcoin is suffering from the fee problem because it has an huge traffic, not because it's technology is worse then the other coins.
Litecoin and simillar coins may be faster then bitcoin now, but they will suffer from the same problem if they will have to deal with the same amount of daily transactions that bitcoin has to deal with.

More users= more problems, and it's something that the whole crypto world has to deal with.