Bitcoin Forum

Hello,

I am currently running an electrum wallet and honestly the fee's are trough the roof. For an average transaction speed I'm looking at about 12 dollars, which is insane.
Are there wallets with lower fees?

Fees suggested by wallets are all estimates based on their algorithms, the current capacity of the mem pool and your speed preferences.  Most of the time, no matter what a wallet suggests, you can decrease the fees and have it go through in the next few blocks.  This works well on the weekends as well, when the number of transactions is typically lower.

In short, all wallets will suggest fees, but none tell you what to pay.  If the fee is high in one wallet, and lower in the other, it is only because they are suggesting lower fees based on the current transaction fees being paid at that moment.  If you are not in a huge rush to receive the funds, put a lower transaction fee and it should go through within the next day or so at the most.  I know this is not optimal but Bitcoin is getting blasted with high transactions right now.

Hm Electrum wallet doesn't have an option for me to put my own fee in, the lowest it goes is 8 dollars which is still massive in my opinion.
If you can adjust the fee's any other way than the slidebar/scroll can you tell me how?

Currently the fees are determined according to the congestion and the current status of the bitcoins network and the miners "blockchain" but I find it very rare that they are charging you twelve dollars per transaction, since it would be one of the wallets that more fees are charging at this time, this was probably a mistake and soon costs will be accommodated. I currently use the blockchain wallet and the fees are less than two dollars

Bitcoin fees don't depend on wallets but on the actual transaction. You can send the fee you want but if your transaction requires a specific amount miners won't include your transaction in any block.

I recently sent $70 and the cost was ~$7. At first I thought that it was a lot and that it was related to the service I used - Wirex.
I also think that the wallet you use does not affect the transaction fee's. There are several different factors. For example, the size of the block in blockchain that will be used for your transaction..

I use blockchain.info - webwallet and app, sent $50 yesterday for $0.28 fee, also has option to save your private keys etc.

I use blockchain online wallet too. That fee depends on your blockchain confirmation time.

You can set a custom fee with https://coinb.in. If you set a $0.25 fee the transaction should confirm in some hours.

A wallet does not control the fees, it just suggests you what fee is best at the time you are making a transaction.

I always have a look at bitcoinfees.21.co and there in that website you can find the average fee you need to use in order to have your transaction confirmed within 0-30 minutes which I think it's a normal waiting time for confirmation.

Now 170-190 fee is the fee rated in green there that will confirm your transaction within 1-35 minutes.

Electrum though offer you to change the fees as needed, you can send with low fees by dragging the slider of the fees to the left but you wait more for confirmation time.

It's true that, these days compromise with bitcoin transactions fee a big deals. Generally,  A newcomers become confused.  Here, I can suggest to use blockchain, as it's reasonable any other.

Can you find out the byte size of a transaction before? is there an online calculator maybe? as fees always seems to be sats per byte?

Thanks

I always use blockchain and fee for my transaction amounts much less than 12 dollars. Maybe it is problem with your wallet and soon it will be repaired

current most of the trading persons using blackchaininfo so once you have to try it. in this wallet most of the people saving money in to this wallet so it is more secure and low charges for that reason most of the people using to this forum. if you need to invest in trading wallet so then once choose it. i always using blackchain for my transactions.i think your wallet has few problems so you have to try to change it once.

Exodus is brilliant,  really like  the look and feel.

https://bitcoinfees.21.co/ (https://bitcoinfees.21.co/) seems a good site for gauging transfer fees.