Bitcoin Forum

Guys can anyone help me please: today I paid £103 to buy bitcoins on Blockchain.info

https://kek.gg/i/784VHB.png

and that translates to only £85.8 in my wallet? (see below)
https://kek.gg/i/5YTKS-.png

that means the fee is about 16.7%? Is it normal that the fee is so absurdly high?

I haven't bought bitcoins in blockchain.info as it is not available in my country although to get to get the most accurate percent rate of your transaction, you should have get the buying and selling price when you made your order not in the price you paid and it's current price now since bitcoin is highly volatile so the price you have seen a few hours ago may not be the same now. Looking at the charts, it's constantly falling, probably because of the price correction


Look at your order history, blockchain.info promised that you will get an amount of .00912182BTC so for obvious reasons, you got an exact amount of bitcoins in your wallet

Based on your two images you got the same amount of bitcoins in your account. Blockchain didn't reduce your bitcoin quantity. The price difference is mainly due to bitcoin prices volatility. This is the risk we need to take if we want to invest in crypto markets because where we can make fast money there we have a chance of losing money also fast. Just hold on you will see price higher than your purchased price once bitcoin prices go up.

Theres nothing wrong in the BTC you bought, it just that the price/rates of BTC this day is decreasing. That's why you need to understand the technology/system before risking your money on this technology, there are so many articles/videos in google that will help you to understand more.

Dude, I have taken the bitcoin price changes as the just a fluctuation like all time happens and holding the bitcoin still. This time price dump is seeing due to the hard fork done on 28th December bro. I am not sure whether I am right or not!

From the time bitcoin price dumped in the chart even some altcoins value also shows little dump wherever bitcoin also dumped in the chart. Since that fees increased in all online wallet blockchain is not also reduced or cheap fees wallet.

Its not actually a fee since you did able to receive the amount of bitcoin that you did buy. Blockchain has nothing to do on reducing amount since this is the thing which is common on cryptocurrency specially on bitcoin itself which its price is volatile which anytime you can see more than the amount you did just buy and the lesser the amount that you saw. That's how volatility works.

Blockchain is really annoying these days. Even a fees at 100 sats/byte on blockchain becomes 0.001 while sending merely a 0.008 transaction. I think they aren't even segwit until now. But in your case I am afraid its not the fees which is at problem. You have brought bitcoins and fees have nothing to do with you. I think problem is that the price has gone far too low on blockchain from the date you purchased it to the date you are watching it. See the BTC amount is absolutely the same.

Considering the last could of weeks block chain is suddenly now becoming a nightmare specially the fees they charge when you have to transfer the btc or their unconfirmed transaction is still 150k+. Thus mostly now users will switch to other wallets where it does not take so long for the transfers.

That annoys me too I'm expecting that lesser 100 sat/byte isn't that much but now it's getting harder and current recommended fee is 520 sats/byte and that's something high. Waiting for them to enable segwit so that we can all enjoy these low fees and faster sending transactions. As of now I refuse to deal with someone or send as it's a pain for me when seeing these fees.

why you make the transaction before check fee, Blockchain.info  continuously update fee table and they try to give you a cheapest possible fee.

next time learn before made any exchange and thanks god you get 85.

It is not absurdly high. You should know that the bitcoin network has been overloaded during last days of the last year. Someone has paid even higher fees, I paid 25 dollars fee for a 65 dollars transaction but I had too as I needed to make that transaction badly. Now if you see the fees on the bitcoin network are some what lower than the last days of last year but still very high. We should wait some days more and I think we will be back to normality and normal transactions fees.

While waiting might end up in you saving a few bucks in transaction fees, it's pretty much a time wasting action. Instead of waiting a few days for the transaction fees to potentially drop, you can just send the transaction with a below average fee and just accept having to wait like 5-10 hours. Some pools tend to pick up transactions with below average fees if it isn't too crazy. With isn't too crazy I am referring to transactions having the standard byte size, but then with below average fees. If your transaction weight is like 5KB due to all the dust and whatnot, and you just include 0.001BTC in fees, your transaction has close to zero percent in chances of getting confirmed.