why bitcoin fees is $1.60 to send bitcoins

[ahmed2017]

Hi,

I want to know why bitcoin is charging me $1.60 for sending $1 to another bitcoin wallet address ?

Can anyone confirm how i can send bitcoin without blockchain charging me fees.

[amacar2]

I want to know why bitcoin is charging me $1.60 for sending $1 to another bitcoin wallet address ?

Which bitcoin wallet you are using? Bitcoin fee depends on size of transaction rather than amount you want to send out.
If you have received small amount of bitcoin multiple times before than that will increase your transaction size.

[AiWanChu]

miners are too greedy, this will be the downfall

[shine1123]

Hi,

I want to know why bitcoin is charging me $1.60 for sending $1 to another bitcoin wallet address ?

Can anyone confirm how i can send bitcoin without blockchain charging me fees.

Are you sure about that ? What wallet are you using ? I'm using blockchain bitcoin wallet and the fee on blockchain is following on the amount of the transaction right now. It's so damn high fee for $1 transaction, the last time i using blockchain, i do 0.003 transaction and i customize the fee to 0.0001.

[ahmed2017]

i am using blockchain and i have $2.80 almost and i am trying to send money to another bitcoin wallet address and when i try to send it says fees is $1.60 is charged. I dont understand what to do.

which website shall i use for bitcoin wallet which charges less fees or no fees for sending or receiving bitcoins.

[DannyHamilton]

This is why it is a HORRIBLE idea to use "faucets" and other "services" that pay you with LOTS of VERY TINY amounts.

Later, when you try to spend those amounts, you discover that each of those payments that you received cost more to send than they are worth.

In the future, if you are going to collect very small amounts, only use services that allow you to build up a balance and then transfer to your wallet once the balance exceeds the estimated transaction fees.

[cr1776]

miners are too greedy, this will be the downfall

If you think they are too "greedy" buy some mining hardware and start mining using different parameters on the transactions you accept for your blocks.  They you can determine for yourself if you are covering your hardware, electric etc costs and whether or not miners are really being "greedy."  Or you can just run the numbers yourself and see what makes sense.

[CryptonomyCapital]

In fact you pay miners for the transaction speed. You can pay $0,0 comission, but most likely your transaction will never be fulfilled.

[ahmed2017]

suggest me a good website from where i can send and receive bitcoins and website who doesnt charges fees for sending or receiving bitcoins.

[mamaya]

Fees have been very high for quite a while now but depending on what wallet you use you can still reduce it to much less. I think after Segwit comes we will see more appropriate fees but its a problem the bitcoin community is well aware of.

[alex_mercer]

If you are paying this, you are not doing it right. I've had transactions confirmed for less than 20 cents. If your wallet is not efficiently adjusting the fee, adjust it yourself.

[ahmed2017]

can you tell me procedure alex ?

i went on blockchain and click on send then i click on customize fee and regular fees for sending $2.50 shows me as $0.40 cents

Now in the customize fees i see is

Transaction Fee
Reg: 25, Priority: 251

25
sat/b


what shall i enter ?

[ahmed2017]

ok i customize fees and changed cents to $0.21 and sent now waiting to see if my money sent is sent instantly.

also if i dont customize fees it charges me too much like yesterday it was charging me $1.20 or $1.60 for transaction fees.

so how do i adjust fees according to me and will my sent bitcoins be sent or return back if it is not sent ?

Thanks for confirming.

[ahmed2017]

i have a question.

if i set custom fees to 2 cents for sending $2 will my deposit send ? or i have to force to pay some fees so my deposit is sent.

without setting a fees will my deposit be sent ?

[warrior333]

The miners really greedy. No need to talk about that very expensive equipment and electricity. If you are not profitable then do not engage. Let the transactions carried out in China or India. The whole reason that the miners want to recoup their equipment for 4-5 months and it is really expensive now.

[chickenado]

suggest me a good website from where i can send and receive bitcoins and website who doesnt charges fees for sending or receiving bitcoins.

It's hard to find bitcoin wallet who doesn't charge fees for sending bitcoin. I think the best way is to find an altcoin, convert your bitcoin to that altcoin,  and use this altcoin to transact to the person you want.

[FZshuvo]

Hi,

I want to know why bitcoin is charging me $1.60 for sending $1 to another bitcoin wallet address ?

Can anyone confirm how i can send bitcoin without blockchain charging me fees.

Transaction fee 1.60$ is to low man. few days ago i spend 5$ for a transaction. High fee transaction is speddy instrad of lower fees.without fee you cant send bitcoin.

[bamboylee]

miners are too greedy, this will be the downfall

It is not the miners fault that the fees are high. There are factors to consider that can cause the fee to skyrocket like size of the transaction, size of mempool, etc.

[Xavofat]

so how do i adjust fees according to me

Your fees in dollars don't matter in the slightest.  You need to look at the number of satoshi/byte, or in some wallets satoshi/kilobyte.  The amount of data which you are sending to the blockchain depends on the number of transactions you accepted in order to spend your coins (inputs to the transaction).  this site will show you how long transactions are expected to take to confirm with different fees.  Don't use their "recommended fee", that's only for if you want a priority transaction - you can see that currently transactions with >30 satoshi/byte are quite reasonable.

and will my sent bitcoins be sent or return back if it is not sent ?

Thanks for confirming.

Your transaction will stay in the mempool for a while, but it's up to nodes to decide when they want to reject your transaction and "return" the coins.  Last time I checked, Bitcoin Core's default setting to reject transactions is after two weeks - I see it as unlikely that the transaction would be unconfirmed at that point, especially if you set a decent fee.

If it stays unconfirmed and doesn't return, you can always use a CPFP transaction or use a transaction accelerator.

[cryptomium]

I believe you have lots of dust transaction within that wallet and you are moving this dust (meaning you have lots of inputs from different dust deposit to that address) making the byte size bigger than the normal transaction that have one input and one output.