Bluewallet default transaction fee

[Cointxz]

A question here for Bluewallet user. Does the default is always not updated based on the mempool?

I newly installed this wallet on my phone and I notice that it keeps suggesting me higher fee as default while mempool high priority fee is just 2sat/vB and below.

It’s just small amount but still every sats counts.

[Charles-Tim]

I think I have posted about it before on Bluewallet thread but I have forgotten if I truly did. It has been like that since years ago. Do not use the fee rate Bluewallet is suggesting you but use a site that has mempool to know the fee rate that you will use for your transaction.

[OmegaStarScream]

I'm no longer using the wallet but from what I can remember, the fees are not fixed. How "higher" are we talking here? I mean if i's a couple of satoshis, then that's probably normal. Not all services use third party services like mempool.space to calculate the fees for users.

[Charles-Tim]

I'm no longer using the wallet but from what I can remember, the fees are not fixed. How "higher" are we talking here? I mean if i's a couple of satoshis, then that's probably normal. Not all services use third party services like mempool.space to calculate the fees for users.

I have used it before in a way that it will suggest lower fee also. I do not know if it is still doing that. Another thing I noticed about the wallet is that it can be giving me error if I want to use 1 sat/vbyte to make a transaction. The mempool will be uncongested but giving such an error until I use 2 sat/vbyte. The wallet is very good but if it is about fee estimate, the algorithm or what is used for it is not accurate at all at sometimes.

[Cointxz]

I'm no longer using the wallet but from what I can remember, the fees are not fixed. How "higher" are we talking here? I mean if i's a couple of satoshis, then that's probably normal. Not all services use third party services like mempool.space to calculate the fees for users.

The highest fee on suggestion of bluewallet is 7sat/vB while the mempool high priority fee is just 1-2sat/vB.

It’s sucks because I thought that’s accurate until I notice that it has high discrepancy when I check on the mempool suggested fee. I fell victim because it’s convenient to use immediately those suggested fees.

[SFR10]

@Cointxz
You might want to experiment with connecting to different Electrum servers ^{[I'm no longer actively using BlueWallet, but I believe this solved a similar issue that I had in the past]}:

• Go to Settings ^{[3 dots from the upper right corner (vertical ellipsis)]} > Network > Electrum Server > Preferred Server.

[Cointxz]

@Cointxz
You might want to experiment with connecting to different Electrum servers ^{[I'm no longer actively using BlueWallet, but I believe this solved a similar issue that I had in the past]}:

• Go to Settings ^{[3 dots from the upper right corner (vertical ellipsis)]} > Network > Electrum Server > Preferred Server.

Thanks to this suggestion. I will try to modify my electrum server and see if this will change the suggested fee.

I check the list of server on the official website of the electrum that can be found here https://1209k.com/bitcoin-eye/ele.php

Is there any implication in case I might use bad server as I read some discussion before about this in the past.

[SFR10]

Is there any implication in case I might use bad server as I read some discussion before about this in the past.

It'd be better if you could use it with your own server ^{[e.g., better privacy & reliability]}, but as long as the server you'd like to use is properly configured and doesn't need to catch up to the latest block height, you shouldn't experience any issues.

[BitMaxz]

If the suggestion by SFR10 do not work I think this one would work.

This is just my idea maybe blue wallet transaction are compatible with Electrum.
You can try make unsign transaction on Electrum and sign it with blue wallet then broadcast it back to Electrum.

The fee suggested there is much accurate so, import your public key first to Electrum and make a transaction there.

[nc50lc]

A question here for Bluewallet user. Does the default is always not updated based on the mempool?

Nah, it's not entirely based from the selected server's mempool.
It's similar to Bitcoin Core's estimatesmartfee command which isn't just based from the node's mempool, but also blocks.
But Blue has its own fee rate estimation algorithm.

For reference:

• github.com/BlueWallet/BlueWallet/blob/master/models/networkTransactionFees.ts#L31
• github.com/BlueWallet/BlueWallet/blob/master/blue_modules/BlueElectrum.ts#L1090

I newly installed this wallet on my phone and I notice that it keeps suggesting me higher fee as default while mempool high priority fee is just 2sat/vB and below.

It's doesn't look like a button but you can actually click the estimated fee and it will show you the other options, including a custom fee rate that you can edit.

[Lucius]

I personally never trust the fees suggested by any wallet and always look at sites like mempool.space to see the actual data. Even now when mempool shows that the fee is only 1 sat/vB, BW shows that the fastest fee is as much as 7 sat/vB. Those who do not check such things pay (completely unnecessary) fees, which in the specific case are even x7 higher than necessary.

The only ones who benefit from this are the miners, but people should still pay more attention to every detail if they don't want to overpay fees.

[Zaguru12]

I have used it before in a way that it will suggest lower fee also. I do not know if it is still doing that. Another thing I noticed about the wallet is that it can be giving me error if I want to use 1 sat/vbyte to make a transaction. The mempool will be uncongested but giving such an error until I use 2 sat/vbyte. The wallet is very good but if it is about fee estimate, the algorithm or what is used for it is not accurate at all at sometimes.

Is this by any way related to the node which one is connected to at that point, because I have usually been facing same problems with that, when I set custom 1sats/vByte it doesn’t go through in some occasions but in some situations it usually goes through like of recent it has been going through so I actually thought it’s the node I am connected to at that particular period that has it’s settings not to relay transactions with such amount.

Also where I think BlueWallet needs to work on the custom fee is when using a decimal for example 1.2sats/vByte if it is set like that it won’t be clickable which it should be, although I know most nodes do not actually allow one to broadcast transactions using less than 1sats/vByte as fee but I think it should be made possible to actually add decimals too and not just whole numbers

[Charles-Tim]

Is this by any way related to the node which one is connected to at that point, because I have usually been facing same problems with that, when I set custom 1sats/vByte it doesn’t go through in some occasions but in some situations it usually goes through like of recent it has been going through so I actually thought it’s the node I am connected to at that particular period that has it’s settings not to relay transactions with such amount.

I also think the server will be the reason, but I am not sure.

Also where I think BlueWallet needs to work on the custom fee is when using a decimal for example 1.2sats/vByte if it is set like that it won’t be clickable which it should be, although I know most nodes do not actually allow one to broadcast transactions using less than 1sats/vByte as fee but I think it should be made possible to actually add decimals too and not just whole numbers

You can now make less than 1 sat/vbyte fee on Bluewallet in version 7.2.0, but it has been some weeks the iOS version was released, but the Android is still version 7.1.8. I am not using iOS device, so I do not know if there will be decimal if using fee higher than 1 sat/vbyte, but you can now go below 1 sat/vbyte on Bluewallet in version 7.2.0. I am still waiting for its Android version to be released.

[libert19]

I am similar to Lucius, I just never have faith in what's recommended by wallets (whether it be Bitcoin wallet or other coin's), so I always check on third party websites meself and use customized option, more often than not the recommended fee by third party tend to be lower than what's recommended by wallet itself and this is also why customize fee option is must for me.

[Wind_FURY]

I am similar to Lucius, I just never have faith in what's recommended by wallets (whether it be Bitcoin wallet or other coin's), so I always check on third party websites meself and use customized option, more often than not the recommended fee by third party tend to be lower than what's recommended by wallet itself and this is also why customize fee option is must for me.

Wallets usually recommend higher fees because they want a "smoother" UX by making sure that the users' transactions, especially for newbies, are included immediately in the next block.

But if you're a more experienced user, it's easy to change/lower the fees after checking the minimum needed from a block explorer. It's not that the wallet wanted you to pay higher fees or something.

[libert19]

I am similar to Lucius, I just never have faith in what's recommended by wallets (whether it be Bitcoin wallet or other coin's), so I always check on third party websites meself and use customized option, more often than not the recommended fee by third party tend to be lower than what's recommended by wallet itself and this is also why customize fee option is must for me.

Wallets usually recommend higher fees because they want a "smoother" UX by making sure that the users' transactions, especially for newbies, are included immediately in the next block.

In blue wallet and coinomi (don't crucify me), they provide multiple options — low, medium, high (plus, custom ofc) and blue wallet also provides estimated timeframe when transaction will be confirmed but it usually tends to be far from truth, that's why I simply do not believe either recommended fee or timeframe provided.

But if you're a more experienced user, it's easy to change/lower the fees after checking the minimum needed from a block explorer. It's not that the wallet wanted you to pay higher fees or something.

Definitely not, it's not like wallets get cut of out of fees paid anyhow.

[Wind_FURY]

I am similar to Lucius, I just never have faith in what's recommended by wallets (whether it be Bitcoin wallet or other coin's), so I always check on third party websites meself and use customized option, more often than not the recommended fee by third party tend to be lower than what's recommended by wallet itself and this is also why customize fee option is must for me.

Wallets usually recommend higher fees because they want a "smoother" UX by making sure that the users' transactions, especially for newbies, are included immediately in the next block.

In blue wallet and coinomi (don't crucify me),

  

they provide multiple options — low, medium, high (plus, custom ofc) and blue wallet also provides estimated timeframe when transaction will be confirmed but it usually tends to be far from truth, that's why I simply do not believe either recommended fee or timeframe provided.

I'm not trying to debate with you, nor am I telling you that you're wrong because you're not. I was merely saying something that "might be" from BlueWallet's viewpoint. They may have gotten a sort phobia from all of the complaints during the mempool congestion during the Ordinals/BRC-20 mania?

 ¯\_(ツ)_/¯

But if you're a more experienced user, it's easy to change/lower the fees after checking the minimum needed from a block explorer. It's not that the wallet wanted you to pay higher fees or something.

Definitely not, it's not like wallets get cut of out of fees paid anyhow.

👍

[LayerzWallet]

Wind_Fury - Your are 100% spot on. The amount of complaints or even bad reviews during peak times negatively impact on a wallet even though its not really directly related to the wallets infrastructure or UX. It is tricky to balance requirements from newbies and more experienced users. However recent attempts at integrating with mempool.space should give a better user experience (more informed) across the spectrum.

[Wind_FURY]

Wind_Fury - Your are 100% spot on. The amount of complaints or even bad reviews during peak times negatively impact on a wallet even though its not really directly related to the wallets infrastructure or UX. It is tricky to balance requirements from newbies and more experienced users. However recent attempts at integrating with mempool.space should give a better user experience (more informed) across the spectrum.

  👍

I'm currently using BlueWallet as my mobile wallet to be honest, and as a more experienced user, I don't have a problem with setting the fee at the proper amount. I believe integration is not the only path for a more smoother UX, but probably also education that users should always check the mempool for more efficiency in their transactions, no?

It's actually very easy for BOTH newbies and experienced users. It's not actually a "real problem".

  ¯\_(ツ)_/¯