Transaction FEES 0.00133153 BTC !!!

[An0nyMoose]

I am paying for about 4 USD for my transaction using Electrum.

I am getting 2 confirmations after 10 minutes (~about one block created). Is this normal?

Note: I rebroadcasted the fees so maybe for rebroadcast there is a "double spend" warning, not sure if this causing any delay.

No no no, this is not normal. You should not be paying $4 for one transaction unless it is a very big transaction. You should be paying more like $1 actually.

[1714804611]

1714804611

[1714804611]

1714804611

[SavvyOli]

I am paying for about 4 USD for my transaction using Electrum.

I am getting 2 confirmations after 10 minutes (~about one block created). Is this normal?

Note: I rebroadcasted the fees so maybe for rebroadcast there is a "double spend" warning, not sure if this causing any delay.

wow 4usd is expensive!

[libert19]

Yes, this was the same case for bittrex yesterday, not sure about now though.

If this will continue people will only hodl Bitcoin soon lol

[metalbean]

I am paying for about 4 USD for my transaction using Electrum.

I am getting 2 confirmations after 10 minutes (~about one block created). Is this normal?

Note: I rebroadcasted the fees so maybe for rebroadcast there is a "double spend" warning, not sure if this causing any delay.

No no no, this is not normal. You should not be paying $4 for one transaction unless it is a very big transaction. You should be paying more like $1 actually.

And you know what, two blocks have mined and I still only have 2 confirmations, despite the fees!

[shine1123]

I am paying for about 4 USD for my transaction using Electrum.

I am getting 2 confirmations after 10 minutes (~about one block created). Is this normal?

Note: I rebroadcasted the fees so maybe for rebroadcast there is a "double spend" warning, not sure if this causing any delay.

Well, i don't know is it normal or not but getting 2 confirmations after 10 minutes is quite fast and i think it's worth it by spending 4 usd to get fast confirmation like that. Actually you can customize the fee and you can decrease the fee on blockchain but i never use electrum, i don't know if electrum have the same option or not.

[metalbean]

I am paying for about 4 USD for my transaction using Electrum.

I am getting 2 confirmations after 10 minutes (~about one block created). Is this normal?

Note: I rebroadcasted the fees so maybe for rebroadcast there is a "double spend" warning, not sure if this causing any delay.

Well, i don't know is it normal or not but getting 2 confirmations after 10 minutes is quite fast and i think it's worth it by spending 4 usd to get fast confirmation like that. Actually you can customize the fee and you can decrease the fee on blockchain but i never use electrum, i don't know if electrum have the same option or not.

Yea, Electrum is pretty flexible on that. You could in theory sent out a transaction with super low fees, and rebroadcast with incremental fees if you want. Not sure how the nodes will treat the multiple transaction though

[cdog]

I usually choose a smaller fee than suggested but I have to say I'm impressed by fast or near-instant transactions of other cryptos.
Bitcoin is definitely too slow.

it's true, fee high transaction very faster. It has been proven and highly recommended to use high fees for faster transactions.

[ekoice]

Just now make a withdraw from Bitgrail and it take 0.00133153 BTC ($5.49 ) as a fee !! (https://live.blockcypher.com/btc/tx/cdf1dc891dfc0bd827b3b4f442ab5095e5073486bce9711fde859da7fccf7ecb) Oh my God! I think it's too many fees for a transation. How to overcome this high fee? Do you follow any special tips to overcome high Bitcoin fee?
Badly i need to know any good tips about it. Someone help me please.
Best regards
Mkmanik

Its really a high fee man.They are spoiling their reputation by themselves.I have used poloniex exchange and their withdrawal fee is just 0.0001 btc.I advice you better not to use exchanges for storing  bitcoins and instead use wallets like Electrum,etc where you could even set your fee manually.There is no security threat in using that wallet.

[cafucafucafu]

Just now make a withdraw from Bitgrail and it take 0.00133153 BTC ($5.49 ) as a fee !! (https://live.blockcypher.com/btc/tx/cdf1dc891dfc0bd827b3b4f442ab5095e5073486bce9711fde859da7fccf7ecb) Oh my God! I think it's too many fees for a transation. How to overcome this high fee? Do you follow any special tips to overcome high Bitcoin fee?
Badly i need to know any good tips about it. Someone help me please.
Best regards
Mkmanik

This is a pretty big problem with bitcoin recently, they have been a huge price rise and with this huge price rise the transaction fees have almost doubled in value. More and more bitcoin is starting to looks like it is only useable for the rich, since a 5 dollar fee is huge for someone who doesn't have a lot of money

Just use a lower fee if possible, it should lower costs but you will have to wait longer.

[stompix]

Yes, this was the same case for bittrex yesterday, not sure about now though.

If this will continue people will only hodl Bitcoin soon lol

No, if this continues we are going to have a big problem.
Not so much "hodling" but people will stop using bitcoin.And once business stop getting customers with bitcoins payments they will stop accepting bitcoin.
And if we reach this point there is no other way left that going down and abandoning ship.

Nobody will bother with BTC payments if they get one customer a week.
Once you can't spend the coins you are going to do what with them? Just use them for international transfers?
That objective is so lame thinking at the point we are how it looks like a total failure.

This is a pretty big problem with bitcoin recently, they have been a huge price rise and with this huge price rise the transaction fees have almost doubled in value. More and more bitcoin is starting to looks like it is only useable for the rich, since a 5 dollar fee is huge for someone who doesn't have a lot of money

Just use a lower fee if possible, it should lower costs but you will have to wait longer.

Nothing to do with the price.
Between august 5 and 10th the recommended transaction fee dropped to 120 satoshi/b. Now it is at 280/s.
It'a all about the demand for space in the next block.

[Diablesfunis]

That's quite a lot of fee for exchange. Usually they only took 0.001 or even lower. I paid 0.0005 fee yesterday to send some bitcoin and i considered it expensive.

[25hashcoin]

Buy Bitcoin Cash soon.

[Nahl]

there is no tips to avoid high fees because with use priority fee then to reach 1 confirmation for our transactions will happened pretty fast unless you're more likely to wait more than 1 day to reach 1 confirmations then you might to use low fee for each transactions however yesterday i did send 0.03 btc with $3 so it's pretty high too but as long as my transactions not stuck i can accept that

[Mr.grin]

Well, I also often get big deals, but have never received such a fee for a single transaction. Sometimes transactions that I do greater than your transaction that you post, but the fee is still lower.

[CryptoBry]

google tells me that bitgrail is a small exchange! if you paid 0.0013BTC in fees then there is nothing you can do about it, you can complain to that exchange why they are taking that big a fee from you. or stop using it and use another exchange that takes a smaller fee for withdrawals. for example i heard that poloniex and bitstamp are taking 0.0001BTC fee!

I have the same advise with OP...if there is a chance you can use another good service aside from this Bitgrail then do so. Bitgrail must be charging more than what the miners are charging because it too want to have some profits in all transactions that it handled...sometimes we also have to understand that they are in business and as such have to make some handsome profits along the way. It is all your choice now to leave or not to leave.

[gesdan]

yeah its too much for transaction fees,
i start trading altcoin at 2014 every i withdraw my money from bittrex there are 0.001 btc fees, in 2014 0.001 just 0.5 USD but now 0.001 = 4 USD i think transaction fee can be cheaper maybe 0.0005 so we can make transactions easy and happy

[bryant.coleman]

I am paying for about 4 USD for my transaction using Electrum.

I am getting 2 confirmations after 10 minutes (~about one block created). Is this normal?

Note: I rebroadcasted the fees so maybe for rebroadcast there is a "double spend" warning, not sure if this causing any delay.

The average fee has increased considerably during the last 4-5 days. Right now around 42,000 unconfirmed transactions are in the queue, amounting to some 52MB. This issue will remain, until the implementation of the higher block size limit in November. Yesterday I paid 200 Sat/Byte for my transaction and even then it took 1 hour to get 3 confirmations.

[Ucy]

Bittrex charged me similar fees last month. Wonder why there is big difference in fees across exchanges

[xtimus]

This is reason to believe bitcoin will be dethroned in the future once people figure out the high fees and slow transaction time.

[Aamir1]

Just now make a withdraw from Bitgrail and it take 0.00133153 BTC ($5.49 ) as a fee !! (https://live.blockcypher.com/btc/tx/cdf1dc891dfc0bd827b3b4f442ab5095e5073486bce9711fde859da7fccf7ecb) Oh my God! I think it's too many fees for a transation. How to overcome this high fee? Do you follow any special tips to overcome high Bitcoin fee?
Badly i need to know any good tips about it. Someone help me please.
Best regards
Mkmanik

Though in your case, you used an exchange and it took much from you, but i actually did a transaction from blockchain wallet before a day and charged me $3 for the transaction and it was the average fee given there. I thought it was too much. Before i used to pay around $0.3 as fees but now they are increasing and it made me worried somehow if what will happen next.