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Title: BITCOIN TRANSACTION FEES ? Post by: atenolol on June 22, 2019, 12:15:38 PM Please explain the minimum and maximum rates for sending bitcoins to another address. I was charged $4.4 for sending $22 bitcoins.
Title: Re: BITCOIN TRANSACTION FEES ? Post by: Sharon121212 on June 22, 2019, 12:45:20 PM Bitcoin transcation fee are important for transcation to be performed. It's a fee needed by miners to activate your transcation.
But you have to note this fees can be altered in the sense that the higher the fee the faster the transcation Also check the link on this reply Quote You can read everything about Bitcoin fees here: https://en.bitcoin.it/wiki/Transaction_fees Title: Re: BITCOIN TRANSACTION FEES ? Post by: TryNinja on June 22, 2019, 12:48:28 PM There are no minimum or maximum. Bitcoin pumped another 10% in just 24 hours. This makes a lot of people make transactions in order to sell their BTC or send their bought ones to a wallet. A lot of tx in a small space of time fills the Bitcoin mempool, making the average fee to increase. What does that mean is that fees are dynamic. One day it could be at 1 cent, and then the mempool fills up and you need a $3 fee to get a confirmation in the next block.
I recommend that you always check the recommended fee on: https://coinb.in/#fees https://bitcoinfees.earn.com/ And maybe even wait to send your tx or send it with a smaller fee (which will take time to confirm) if you’re not in a hurry. Title: Re: BITCOIN TRANSACTION FEES ? Post by: atenolol on June 22, 2019, 12:51:19 PM Bitcoin transcation fee are important for transcation to be performed. It's a fee needed by miners to activate your transcation. But you have to note this fees can be altered in the sense that the higher the fee the faster the transcation Also check the link on this reply Quote You can read everything about Bitcoin fees here: https://en.bitcoin.it/wiki/Transaction_fees Thanks a lot for your explanation. I just want to know, what is the minimum fee for bitcoin transaction. Because I would like to compare it with POS coins transaction fees. Title: Re: BITCOIN TRANSACTION FEES ? Post by: khaled0111 on June 22, 2019, 01:04:12 PM Fees does not depend on how much you send. It depends on the size of the transaction.
Miners can include a limited number of transactions in the block they are working on, hence, they will select the transactions with highest fees. To know how much you have to pay, you can take a look at latest confirmed transactions and how much did they pay. Also, take a look on unconfirmed transactions in the mempool. You have to set a reasonable fee that can incentivize miners to pick your transaction and include it in their blocks. Here is a tool that can help you: https://core.jochen-hoenicke.de/queue/#0,24h I just want to know, what is the minimum fee for bitcoin transaction. Because I would like to compare it with POS coins transaction fees. 1sat/b Title: Re: BITCOIN TRANSACTION FEES ? Post by: atenolol on June 22, 2019, 01:18:51 PM OK. Thanks guys. That info was very helpful. I will lock the topic.
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