Bitcoin Forum

Do I find out the hard way after I make my purchase with the educated guess that Bitcoin pricing is stable long enough that from my understanding the more popular Bitcoin is worth and the more money each Bitcoin is worth among other factors is what influences the Bitcoin Fee is there an app of some sort I can use on my Cell Phone to let me know the current Blockchain Wallet Sending Fees will be as that is the Wallet I am using for simply Sending Bitcoin into and Sending out of. 


  Any help explaining how this works would be greatly appreciated as it is frustrating not knowing what my Bitcoin Fee is going to be hence I don't know how much money in Bitcoin more than what I am spending on my purchase that I need to acquire?

Actually, it's simple. It's all about supply-demand. As the transaction supply increases, transaction fee increases.

It's also about the number of miners in the system. As the number of miners increases, the ratio of the demand is increased and the fee falls.
You can still find a great&technical answer in mining section if you want. There are a lot of thread in there.

https://bitcointalk.org/index.php?board=14.0

your whole topic is hard to understand, you should really try to improve your English or visit the local board and post in your own language instead.


i don't know what you have in mind when you say "blockchain wallet" but if it is not about the blockchain.com wallet then the answer is that any wallet that is designed by a competent developer has a good fee estimation based on the memory pool. for example Electrum contacts Electrum nodes which run modified bitcoin-core and they will give it the appropriate fee and the user can set it to the recommended value depending on his needs.


that is completely wrong. it has nothing to do with number of miners because with difficulty adjustments number of miners wouldn't matter anymore.

I need to read it few times in order to understand the main problem you wants to share. Are you getting problem in blockchain wallet especially about the fee? I'm using blockchain wallet in my android phone as well, but I have never experienced any issues. If your main problem is in deciding the fee you need to pay to send, blockchain gives you 3 options to choose and I usually use the priority fee so my transaction will be confirmed faster.

From my understanding with all the things that you said. You are looking for a way to know how much is your sending fee comparing to fiat money is that right?

We are also frustrated with understanding your question.

E.g. If you want to make a purchase like $10 the amount of fee that you will be paying will be just cents if you convert to bitcoin. You could just put it in optimum fee don't make any changes into the fees as it will be confirmed by miners in less than an hour or so.

I think this website is good to visit if you want to see the latest paid transactions fees
https://bitcoinfees.earn.com/

According to this website the "the median transaction size of 224 bytes, this results in a fee of 2,240 satoshis." for a median bitcoin transaction today, but that number can change each day.

Right now you can just use the lowest possible fees your wallet allows you to do, and your transactions will go through within in a few blocks, and not more than one hour.

Here you can see the numbers of unconfirmed transactions, waiting to be sent
https://www.blockchain.com/btc/unconfirmed-transactions

And here you can see how many real transactions that each block have

https://www.blockchain.com/charts/n-transactions-per-block

If I don't get it wrong, the friend asks why the transaction fee is sometimes too low or too high. Of course, a situation related to miners, depending on the process of the transaction fees you can pay varying rates. We don't use much for Bitcoin, but I think you used MEW or MetaMask for Ethereum transaction. If you pay attention again, at the very last stage, Metamask will ask you to pay the GAS fee. If you select the highest number, you will have the opportunity to perform the fastest transaction. If you choose a low rate, your transaction will be queued. Sometimes processing fees increase according to the density during this process. Sometimes it decreases. I think it is about the algorythm. It changes automatically.

I barely understand what you're saying, but the gist of it is that you want to know which fees are appropriate without having to test yourself, right? You can use this website:

https://coinb.in/#fees

I find that this one is better than other common fee estimators, as a lot of those often inflate the minimum fee recommended.

As a sidenote, it's higher than usual at the moment (but still low in the grand scheme of things) so you should wait if possible.

From what i understand of OP i think he wants to know the real-time value of transaction fee. But as far as i know, every transaction depends on every miner operating and the price of bitcoin though there are some choices in the blockchain if you want to send some bitcoin to someone. Choose the low-priority and your transaction will be queued until all of the blocks confirmed or you can choose the high-priority if you want to send your transaction faster but expect that the transaction fee will become higher if you choose the high-priority.

The idea you have is almost what I think Op is asking. Yes I think the transaction fees varies, from the miners and how fast you want the blocks to be confirmed. I know that segwit bitcoin wallet gives option for a faster transaction but with additional charge.

Nah,@OP is looking to know how he can know in advance what will be the fees if he needs to make a transaction from his/her Blockchain. com wallet.
He wants to know what influence the BTC fees and if there is an application that let you know the current fees needed in real time. That's it

@OP
You can use the link posted by @jseverson and @cryptjh but I suppose you wallet provider suggests the fee when you finalize a transaction.

The links posted above given two very different fees for different situations.

https://bitcoinfees.earn.com/ gives the minimum fee to try to confirm in the next block with a >90% chance. In real terms, this means your transaction is likely to confirm within 10 minutes (on average). If you need a transaction to confirm this quickly, then choose that fee. At time of posting, that fee is 18 sats/byte.

https://coinb.in/#fees gives a fee for your transaction to be included "within the next few blocks". This can sometimes mean waiting a couple of hours or more, but works out much cheaper. At time of posting, their recommended fee is 2 sats/byte, or only 10% of the previous fee. If you are not in a hurry, you can safely choose this fee and just be patient.

Another useful site is this one https://jochen-hoenicke.de/queue/#1,8h which will give you a visual representation of how full the mempool is, and may help you to choose a fee somewhere between the two suggested fees given above.

Thanks for sharing. That's pretty useful.
I usually just use the suggested fee of my Electrum wallet but I've noticed that they may automatically offer 1-2sat fee for a transaction and it might be difficult to set a proper fee by yourself and not overpay.

i believe that this website is mainly designed to be useful newbie and not that much for anybody else because they always intentionally give you a higher fee because (again i am assuming) they want the transactions with that fee to be confirmed with 100% chance. so for example if it tells you 18 s/b that means you can get away with 5 s/b too.

As simple as other business if you will have an big operating cost or super high sending fee you will have an small income like in trucking business you will compare the sending fee in the gasoline that you will charge to your truck. But in case of super low fees I think this is not good too because when it's happened do you think the price of bitcoin in high? No!obviously the price of bitcoin is super low too.

I really can't understand the thought of your post. But for what I understand, I think that you're asking what will happen to the fee if the price of btc go up? I observed that the fee is just getting bigger if bitcoin goes up. So, if bitcoin goes down, the fee will also go down.

If that's what he's asking, then the answer to that is it depends on the platform. In the wallet I use, the lowest transaction fee is .000018 I think but it is so slow it could take up to 3 hrs. And for hitbtc the price of fee is .001 or so. In bittrex that's the fee also. It depends on the platform.

There are already mobile applications in which one would be able to create and complete a transaction with the optimum fee at a given time or choose to manually input the fees themselves in order to not get affected much by a sudden spike in fees. I believe Bitcoin wallet by Andreas Schildbach does this, together with the Mycellium bitcoin wallet. Right now, I've seen some scenarios in which the optimum fee to get your transaction confirmed within the next block dropped down to ~2-5 sat/byte, which is already a pretty low fee if you'd ask me. Though there are some instances like this that happens within the day, still always check the fees on multiple websites given above in order to not overpay or underpay for the fees and get your confirms ASAP.

Like other people, you need to make a simple question, so we know what your means is.

Ok, here is my opinion.

Let say you install Mycelium, and you have a balance, for example, $100 in bitcoin. Then you want to send $25 in bitcoin, but you don't know how much the fee.

You can look at the image below:
https://i.imgur.com/tEgo4eD.jpg

You can use the scan QR code to add the wallet address or use the other option, add the amount of bitcoin. Then in the lower in Miner Fee, you will see how much fee you should pay. You can slight to the right to see how much the difference of the fee. If you don't want to wait too long, then you can use Priority ~ 10 minutes to get arrive. But usually, it won't take too long, and sometimes it's only less than 1 minutes to get confirmed in the network.

I hope that is what you want to know.

I appreciate what you are saying, but the way you've worded it could be a bit misleading to a newbie.

Putting in a higher fee will get your transaction confirmed faster (usually), but that doesn't mean that lower fees have a less than 100% chance to be confirmed.* Using the lower fee as suggested by https://www.coinb.in/#fees will still get your transaction confirmed, it's that it might take longer than it would with a higher fee.


*Outside of the crazy situation we saw at the height of the bull run when anything below 30 sats/byte wasn't being touched.

For the benefit of every stakeholder, bitcoin holders and traders may accept a considerable amount of transaction rate. Using and enjoying a service without paying means nothing for the future of bitcoin, but also an over-priced transaction fees can make people keep away from investing and trading.

That is nice but that can also be done using the ferch the transactions fee changed and even some wallets gives you a total run down the is the amount of bitcoin you are sending and the fees charge then total amount display for you to see.

What you mean is the gas cost of each shipment that changes over time, if not, then what is your problem, all depends on the current BTC price.

Even though wallets change their recommended fee automatically the problem is they over estimate the fees. It's still best to set a fee you prefer and check an estimator like coinb.in (https://coinb.in/#fees)

We're not talking about ethereum here they have similarities but you don't see Bitcoin users mentioning miner fees as gas .  

Miner fees is not that applicable because in crypto currency transaction fees is not very high, we can afford it because profit gain is very high, we are able to pay high amount of transaction all over the world so it is very important to pay the fees on right time, according to me fees is not very high but low transaction fees will convince more people to invest.

I second that, usually miners always pick the transaction that have high fee, obviously that's preferable to them and lower fee will be less prioritize. Personally, I always choose priority since the cost is just differ a little from low priority. People should also try to use different fees so you'll know what's more convenient hence appropriate to use.

I don't really understand what you are trying to get across here, are you asking about transaction fees and how they are calculated, or are you confused about your wallet sending fees from blockchain.com?

Most wallets don't have any sending fees, the extra dollar or 2 that is taken away from your wallet is for mining fees, which is used in order for your transaction to confirm. If you are unhappy with the fees you are forced to pay via your wallet service, you can easily swap over to electrum, or other similar wallets where you have full reign over how much you are paying for your fees.

I think the fee will vary but I don't know how to calculate the fee because I don't learn about that. I think we don't have to think about the fee because when you want to send $1000 in bitcoin, and you should pay the fee for $10, do you want to reject? If I were you, I would pay $10 for receiving $1000 because if I calculate, $1000-$10= $990, and I still get 99% of the money.
Sometimes, I laugh when my friends said that the fee is too high but then I explain to them if you want to receive at least $100, and you should pay less than $3, it doesn't make sense if you rejected. I also explain to them, there is no need to think about a high or low fee because it will be adjusted by the networks, we can receive that money without to confuse about the fee.

Actually i really cant understand whats the question here,your title is too far from the body of the post and why not just ask in your own local board for more clarification?your countrymen will provide more accurate answer from your inaccurate questions here lol 😂

Maybe he was referring to Gas cost mate since he mention after purchasing bitcoin,or I really don’t know since its harder to understand

some exchanges use a default fee, and its could say it is much more expensive. You can custom yourself what is the right fee for your transaction at that time. but we must realize that the network is getting crowded, and make that fees will be more expensive

On many exchanges and wallets you can control and choose the fee. That is the feature that it wasn't available before and then was the situation much worse. I think that now fees are reasonable and you can control them. You have to have in mind that transactions have their cost as well as other involved in chain. People often complain for no reason at all.

You can use other way how to make less payment for fee if you withdraw your bitcoin balance, convert your bitcoin balance first become doge coin or other altcoin have lower price and support for your goal exchange.

If you are carrying out transactionson the blockchain wallet, all you need to do is adjusting the transaction fee using the "customise fee" icon on the dashboard.
But the disadvantage if using this icon is that transactions carried out using it doesn't get confirmed on time to compared to when you used the suggested transfer fee.

With this suggestion you're spending more fees since you have to pay the fee to deposit your btc to an exchange then cover another fee and the receiver might not be accepting altcoins.

Alloting 1% of your transaction just for the miner fees is not a good practice. If you calculate the fee whenever you transact that $10 worth of btc could be good for hundreds of future transactions.

You can always Change your Bitcoin fee by setting the desire fee you want, just locate where you can change the fee, you just need to reduce or increase the fee to the desired amount you want. But the disadvantage of setting fee is if you set a Lower fee and your transaction was unable to be processed due to fee, you we have to resend and you we be charged twice.

you should perform your suggestions first before suggesting others to do them!
in this case if you try it, you can clearly see why it is only a theory and flawed in practice. for example imagine you are in a restaurant and want to pay with bitcoin and because of "fees" you have converted your bitcoin to Doge. when you ask to pay with Doge instead of BTC they will laugh at you because they don't accept "joke coins" as payment! so practically you paid a lot of fees without any usage.

You are overpaying in fees massively.

A "standard" 1-input 2-output transaction is generally in the region of 200-300 bytes, depending on things like SegWit, MultiSig, etc. Even if you were doing something like consolidating 10 small inputs in to 1, you are still looking at a size of around 2000 bytes. Given that $10 is currently 250,000 sats, this means you are paying a fee of between 125 and 1250 sats/byte. Currently recommended fees at time of posting are 13 sats/byte, (https://coinb.in/#fees) meaning you are overpaying by somewhere around 10 to 100 times.

Check https://bitcoinfees.earn.com because there you will find all information about network fees. On this website you will find what fee you need to use and how long it would take until your transaction is confirmed. Also down on the page you will see a recommended fee and if you use that everything should be just fine.

You can find your doubts and curiosity about the cost of bitcoin in various threads in the mining subtopics. There you can find reasons why bitcoin costs can be high and can be low. All of these changes are due to two factors, namely demand and supply. You can further study this in mining thread.

I am new to Bitcoin in general and I did not have time to edit any typos so sorry if my post makes no sense but this is my question I simply just want to make a purchase of 128$ U.S. but I obviously need more than 128$ U.S. in my Bitcoin Account since I need to pay the Fees which I was hoping there was some way to get a rough estimate of what it might be so I can simply just send a bit more than what it should be roughly so that way I got enough in my wallet before sending the money so I don't have to send to Transactions due to my first one being not enough to cover the fees?


  Should I be putting 10$ U.S. extra into my Wallet or how much extra since I realize the fees fluctuate as mentioned above let me know what specific information you may need and I understand this is not something that is 100% predictable.

I tried to understand your question in a hard way. Transaction fees vary and there is not wallet or website that will update you of fees without you trying to send out some bitcoin. Transaction fees is not constant due to many factors so the best way is to have a good wallet like the blockchain.com and check for fees anytime you want to make a transaction.

An extra dollar is almost certainly going to be more than enough.

With bitcoin, your coins are stored as unspent transaction outputs (UTXOs). The final balance of your address is the sum of all your UTXOs. You could have a balance of $128 made up of one UTXO worth $128, or of 50 UTXOs of various values, or even of 1000 UTXOs each worth a few cents. Each UTXO you have to use to make a transaction counts as an "input", and each input incurs an additional fee. Transferring a single UTXO worth $128 will cost very little in fees, but transferring 1000 UTXOs worth a combined total of $128 will cost much, much more.

The way you have phrased it makes me think you going to make a single purchase of $128 and then transfer that to another address. If that is the case, the $128 will be a single UTXO and the fees will be very small. If that's the case, at current recommended fees of 3 sats/byte, you would end up needing somewhere around $0.05 (5 cents) to cover the fee.

I think It is not that big deal as we know sending bitcoin is not so a problem because we are paying a  good and affordable fee on time, if sending will be no cost I think it will slow down because long ago free transaction has been done but it was slow as it can take day or more than this so for huge business we will have to sacrifice something smaller than our profit.

I just don't exactly get what you are trying to pointing out here dude. I'm not so sure if you are talking about the transaction fee on Bitcoin, because if this what you are asking for mate, transaction charge fee was always depend on the exchange platform.

Transactions are always cheap if you are willing to wait.  The only people that end up paying really high fees are those that need to send within the next block and are fine with paying any fee.  This is why people were paying over $20 to send within the next block during the bull run. 

  This answered my question thank you to everyone who replied.

Of course, if the Bitcoin transaction fee will change either that it will become high or super low, this will bring a huge impact in the Bitcoin crypto currency market. As we all know, more people wants the low price of the Bitcoin transaction for their own satisfaction but the people are not the one that can choose what price they wanted for the Bitcoin sending fees.

that's normal and that is caused by volatility of the price  .


huge impact ? no i dont think so  . as i mentioned earlier the fees fluctuates along with the price of the coins not only today but even before im  . sure that people are already aware and used with it  .


yes people loves low transaction fees and yes they can possibly set the fees on thier own discretions . some other wallets/exchanges have an option for costumizing fee while others are automatically set depending on the current price of the coins  . besides people can always use other cheap coins for lesser fees and more faster processing  .

It usually depends on the number of transactions on the blockchain. If the transaction volume is high the blockchain normally gets clogged and the fee goes up. At this point the miners tend to  focus on people who pay more fees to get their transactions confirmed.
I guess we should not worry about fee now until more people start using Bitcoin again.

I don't know the bitcoin wallet you are using is but most of the bitcoin wallet always display your sending fee once you input you sending amount, what really determine the amount being charged as fees is the level of transactions being carried out on the blockchain at that particular time.

will we continue to transact if the increase in the block chain is being greatly increased, or conversely waiting for a decrease in transaction costs on the blockchain

It really depends on how long you are willing to wait, and what the mempool is doing at the time. For the last several months, the mempool has been pretty much emptying each night (UTC time), allowing even transactions with fees as low as 1 sat/byte to be processed. There are plenty of times in the past when this has not been the case, however. In fact, the mempool has been steadily filling up for the last few days, meaning 1 sat/byte transactions are going untouched. During the peak of the bull run, there was a period of around 3 months where you would be lucky for anything with a fee of less than around 30 sats/byte to be processed.

So yes, they are always cheap if you are willing to wait, but sometimes you have to wait a few hours, and other times you have to wait a few weeks.

I would be honest, your English is really bad man. You should try to learn it so that you can communicate to other people with ease. Well, to answer your question with regarding to transaction fees,  visit this site (https://darbfinance.com/?=crowd) . This site has one of the cheapest transaction fee available. And not only that, it has very fast transaction speeds, has no currency risk, and you can even pay an online business or a physical transactions by the use of it.

Haha yes man, his English seriously needed some help. It's important for us to at least have a good English so that we can communicate to people.

you can try it with small amount bitcoin, i think if we send bitcoin with high fees we will get the priority seat, its mean that our transaction will reach the destination in fast way, but if you send it with low fees i think the confirmation and your bitcoin will slower than you use the high fees

The value of bitcoin doesn't depend on it's popularity. It depends on the demand and supply in the market. The fees you are pertaining is the share of the miner through your transactions. If it is vague to you, search about the miner's fee. Also, in every exchanges there are particular fee. Choose an exchange who offers small fee.

Actually you can set the fee as you want but tho lower fee you set then the probability of transaction delay is high too. Actually when the transaction fee is high the market show negativity trend. I remember when bitcoin price reach 20.000 usd the transaction fee is feel so expensive. Some of my friends prefer to send crypto to me in form of ETH.

If ever bitcoin sending fee will be super high i think i will still use my bitcoin for transaction but it depends on how high the fee was  . some sites , wallets  , exchanges do have different transaction fees and some enables you to choose between slow , mid and high priority   .  i will only choose mid or low if high priority is too expensive  .

But if all the options above are not possible i guess ill have to use another cheaper coin if available  .

Yes you are correct mate, we all can set the transaction fee that we make but we should expect that the smaller the transaction fee the longer we'll wait. Except for those local wallets that are setting their own transaction fee that you need to pay before sending or making a transaction.

You can just use your Bitcoin for transactions over $100 and for less then $100 you use doge or eth or ltc or something. Many more places have now accepted altcoins and have a drop down menu to select them.
Coinpayments has had this for quite a while now. It also helps get more people involved and using altcoins. Giving use to more coins then just bitcoin is a great idea.

Transactions using the mobile app usually don't have many options available, unlike using a desktop application. In general, transactions on the mobile app are given a transfer fee offer, you can choose the cost that suits. the faster the transfer process the greater the costs incurred, because this process relates to the miners in transaction priority. but if it is still felt the transfer fee is still expensive, just simulate the cost with a custom fee option.

This doesn't help unless you have pre-bought various alt-coins in advance. Changing them on the fly with something like Changelly would cost more in conversion fees than just making the bitcoin transaction and paying a higher transaction fee. You also run in to the problem of different vendors accepting different alt-coins. What if you aren't holding the right one at the right time?

On the whole, the much simpler and easier option is to start using Lightning Network. More and more vendors are now accepting LN, you can open a channel when fees are low and then spend whenever you need to, instantly and cheaply, regardless of what the current mempool status is.

This is also one of the biggest problems of bitcoin right now, the fee. Using bitcoin when the value is cheap is a big advantage because the fee is also cheap. When the value of bitcoin increases the fee increase also. I just hope that in the near future the developer would solve this.
I suggest that you would do the transaction whenever the value of bitcoin is not that high or expensive.

How many people are using custodial wallets like Bluewallet because they don't want to manage an online node and channel liquidity 24/7, though? This seems really common, but I don't know that there are any statistics about this. Hopefully Watchtowers and better UI in non-custodial wallets will turn the tide towards better (trustless) practices.

If the choice is between holding/using an altcoin and using a custodial LN wallet, the latter doesn't seem any better.

If you planning and making purchase in other altcoins you just plan ahead and buy some and use them as you need. Most people should have various coins if they serious about cryptocurrency.
LN has been spoken about for months and it's still not an option. If people don't hold eth then I don't even know what to say since you need it for token transactions.

Ideally you should be able to use any currency with similar fees. So like you say you don't have to hold the other coins.