Bitcoin Forum
June 15, 2024, 01:42:50 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Bitcoin Technical Support / Re: What is the minimal transaction fee for 10$ usd or 1000$ usd? on: August 13, 2023, 10:37:42 PM
So if I assume, that if I split the amount on two receiving wallets, the transaction sizes increases and the whole transaction will be more expensive.
Do we talk here  about twice as expensive or 30% more expensive?
Right. The more inputs or outputs you have, the bigger transaction fee you have to pay.
Assuming your transaction is segwit and it includes 1 input and 1 output, its size would be around 110 vbyte. If you add one more output to your transaction, so that it includes 1 input and 2 outputs, its size would be around 142 vbyte. That's around 30% increase in transaction size and will lead to 30% increase in transaction fee.

You can use coinb.in fee calculator or bitcoindata.science (a tool created by the forum user, bitmover) to calculate transaction size and transaction fee based on number of inputs and outputs.  

Awesome, thanks!
2  Bitcoin / Bitcoin Technical Support / Re: What is the minimal transaction fee for 10$ usd or 1000$ usd? on: August 13, 2023, 09:26:41 PM
Wow, thanks to everyone! I really appreciate all your comments and insights!
I understand, that the answer to my question depends on the expected accuracy of the fee estimation.

So I also understood, that one single transation to one address can be looked up at https://bitcoinfees.net/ or https://mempool.space/

But many people say, that if the size of the transation is bigger, than it is more expensive.
Here, I understood that the transaction size depends on the amount of wallet addresses, which are part of the transaction (sending 5$ to one and 5$ to second wallet?)

So if I assume, that if I split the amount on two receiving wallets, the transaction sizes increases and the whole transaction will be more expensive.
Do we talk here  about twice as expensive or 30% more expensive?


Thanks again to everyone. The discussion really helped me to (finally) get a feeling about the transaciton background and the feese.
3  Bitcoin / Bitcoin Technical Support / Re: What is the minimal transaction fee for 10$ usd or 1000$ usd? on: August 13, 2023, 08:14:22 AM
Thanks everyone very much!

So if I look at this image


It says that low prio free is 8 sta/vB is $0.33
Does it mean that I will pay $0.33 for a transaciton of 10$ and the same for a transaction of $1000?

Thank you very much!
4  Bitcoin / Bitcoin Technical Support / What is the minimal transaction fee for 10$ usd or 1000$ usd? on: August 13, 2023, 07:58:06 AM
What is the minimal transaction fee for 10$ usd or 1000$ usd?

Hi, I am having difficulties to estimate minimal transaction fees for a potential case.

Following situation: the user would like to deposit 10$. How much transaction fees do I have to expect before the money arrives on my btc wallet? Do I need to consider a fixed amount per transaction or is it in %?


Thank you very much in advance!
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!