I'm a crypto trader and while I monitor the markets daily, I don't understand a lot of the technical aspects surrounding bitcoin. So, I have a couple questions.
1. I just sent a transaction worth about $5k, and paid almost $30 in fees. From what I can remember from my past transactions, it was nowhere near this. In fact, I found one that I sent a couple months ago worth about $7k and the fee was only $6. I used bread wallet for both of these transactions. Is there an explanation for this and is there anything I can do to prevent this? From what I can tell, sending ETH is far more economical and faster, I might add.
2. I've been hearing a lot about Segwit and I think I get the general idea of it, but can anybody tell me what this might do to the price in bitcoin? Or if Segwit is definitely going to be the solution here? Every day I grow tired of the bitcoin nonsense (bickering, long confirmation times, high fees) and every day the temptation to switch all funds over to ETH grows stronger.
I appreciate all responses and input. Hope you are all having a nice day.
Thanks!
CORRECTION: My fee was $60USD!!! That's more than 10% of the amount I was trying to transact. Surely there is something I can do to prevent this. Does it depend on when I send it?
Not to spoil your party, but can you possibly provide proof of this? You can edit out the sensitive and personal information. We have had some people coming to the forum and complaining about extra high fees and when we ask for proof, they fail to deliver.
This tells me some people make up stories about these high fees or they blame Bitcoin when wallet services charge extra high fees, when it was not necessary. ^hmmmmmm^
There are examples where some services increased the fees, when the Mempool were normal. ^grrrrr^