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Author Topic: Transaction FEES 0.00133153 BTC !!!  (Read 4969 times)
Mkmanik (OP)
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August 13, 2017, 07:31:47 AM
 #1

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

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RoommateAgreement
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August 13, 2017, 07:34:22 AM
 #2

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!

Buying the dip...
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August 13, 2017, 07:36:36 AM
 #3

Network fees? It's an exchange so I believe that's normal as their transaction contain multiples outputs and inputs. If you want to avoid that, you must stop using exchanges, start using wallets that allow dynamic fees and trade with other individuals on the forums, It will cost you much less.

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August 13, 2017, 07:39:03 AM
 #4

Well  you should try to understand , more fees  = more quick your transaction get confirmations ,at the same time hurts so much because bitcoin price is up  , a fee valued in 5 $ could be 10$  in months , try sending a ticket to the support  .
Mkmanik (OP)
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August 13, 2017, 07:39:37 AM
 #5

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!
Take a look here:  https://live.blockcypher.com/btc/tx/cdf1dc891dfc0bd827b3b4f442ab5095e5073486bce9711fde859da7fccf7ecb really nothing to say!! for $200 transaction fee is 5$ or more. I need to leave this fucking exchange, But the problem is XRB is only exchangeable in this platform. Bad luck for Bitgaril user ...
RoommateAgreement
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August 13, 2017, 07:46:25 AM
 #6

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!
Take a look here:  https://live.blockcypher.com/btc/tx/cdf1dc891dfc0bd827b3b4f442ab5095e5073486bce9711fde859da7fccf7ecb really nothing to say!! for $200 transaction fee is 5$ or more. I need to leave this fucking exchange, But the problem is XRB is only exchangeable in this platform. Bad luck for Bitgaril user ...

did they really take that much fee from you?
because that would be the first exchange that does things like this!

usually what happens is that exchanges take a fixed amount of fee. for example as i said above poloniex takes 10K satoshi last time i heard. and then the exchanges pay any network fee that is needed, the user never even sees this unless they check the tx.
this means if you withdraw from exchange you still pay 10K but they pay 100K for network fee.

and that is not strange since the tx is big 668 bytes.

Buying the dip...
Mkmanik (OP)
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August 13, 2017, 07:47:27 AM
 #7

Network fees? It's an exchange so I believe that's normal as their transaction contain multiples outputs and inputs. If you want to avoid that, you must stop using exchanges, start using wallets that allow dynamic fees and trade with other individuals on the forums, It will cost you much less.
How to avoid it? If I want to exchange XRB then i need an exchange platfrom and XRB is exchanging in mercatox and bitgrail.only this two site are added XRB for exchange. So if i want to convert XRB to BTC then I need to use any one platform avobe them.But mercatox is very bad and they delay for withdraw.
Will you explain it more briefly?
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August 13, 2017, 08:00:31 AM
 #8

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



It is too much but there is nothing you can do about the fees on online wallets or exchange websites. I advice you to use Electrum wallet because it is easy to use and you can change fee amount.
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August 13, 2017, 08:03:22 AM
 #9

Yeah I sent 0.1BTC yesterday, I selected priority in Blockchain.info si it was 200sats per byte.
Apparently lots of small transactions had to be combined, so it was bigger than normal.

It cost $9! If Paypal tried to take $9 for a $390 transaction without insuring it, they wouldn't be a business for very long!
Mkmanik (OP)
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August 13, 2017, 08:06:33 AM
 #10

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



It is too much but there is nothing you can do about the fees on online wallets or exchange websites. I advice you to use Electrum wallet because it is easy to use and you can change fee amount.
Not yet use ELECTRUM wallet but heard about it and seen that a lot of people using this wallet. I have to use ELECTRUM wallet for store my bitcoin. But for receiving Bitcoin i can't control the fee I think.if i am wrong correct me?I only control sending fee what I know about electrum wallet.
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August 13, 2017, 08:11:04 AM
 #11

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


Hey Mkmanik,
you can also buy any altcoin by ether pair from bitgrail,,,and then withdraw to this your ether wallet for reducing transaction fees that's simple tricks...you have to look xrb to ether pair at bitgrail.
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August 13, 2017, 08:17:02 AM
 #12

I agree with you on that. This issue of transaction fees is getting out of hand. Now that the value of bitcoin reaches new all time highs means that transaction fees will also increase

Digital asset exchange for settlement, clearing, custody and trading of various digital assets, utilizing distributed ledger technologies, programmed on the blockchain -https://bex.global
Mkmanik (OP)
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August 13, 2017, 08:18:00 AM
 #13

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


Hey Mkmanik,
you can also buy any altcoin by ether pair from bitgrail,,,and then withdraw to this your ether wallet for reducing transaction fees that's simple tricks...you have to look xrb to ether pair at bitgrail.

take a look here in this photo
Hey, Imran.
I knew this tips, But the problem is there is no ETH pair in bitgrail. i followed this rule(that you mention ) in another exchange platform.And it's the best way to overcome the fees.
However, thank a lot for your kind help.
Regards
Mkmanik
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August 13, 2017, 08:19:46 AM
 #14

Since the 8th of Aug 2017, someone has started to spam the network with tx's with low fees again... {jealous much?}

A lot of people cannot handle the success that Bitcoin had lately, so they started to spam the network again. The exchanges

will latch onto that again and charge higher fees than normal. {in some instances, this is not even necessary}

http://bitcointicker.co/networkstats/

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August 13, 2017, 08:33:32 AM
 #15

Some exchanges want to take every cent from their customers by charging too much for withdrawals and taking most of the fees for themselves.

Doesn't mean the network is congested

 
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August 13, 2017, 08:39:35 AM
 #16

I am not sure why this is happening but when I use blockchain.info wallet to send funds (they adjust the fees every time as per the network load), sometimes the fees almost equal to nothing and sometimes it becomes too high that makes me postpone transaction unless it is very urgent. This happens every time I try to make a transaction and the fee fluctuates in between extremely low to extremely high amounts. However, I have noticed much improvement after the fork in terms of transaction confirmation time.
Mkmanik (OP)
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August 13, 2017, 09:09:21 AM
 #17

Some exchanges want to take every cent from their customers by charging too much for withdrawals and taking most of the fees for themselves.

Doesn't mean the network is congested
Agreed with you.I also think that they are taking a lot of fees but its not for transaction fees,they taking it for their own pocket.its  very suspicious for an exchange platform.But its also my bad luck that,without this exchange I have no other option right now Sad Sad
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August 13, 2017, 09:15:40 AM
 #18

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


We can't do about it because that is the result for getting higher demands and popularity of bitcoin, while the bitcoin is getting more of it then the supporters like miners is having a hard time to sustain the network so they need more amount of fees in order to be motivated and also to get more profits so the miners can bring more mining rigs to support the network.

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joseafonso123az
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August 13, 2017, 09:17:58 AM
 #19

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!

It's true, poloniex is only taking 0.0001 as transaction fees. You could always ask them why the transaction fee is that high, by sending them a support ticket.
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August 13, 2017, 09:18:40 AM
 #20

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!

Poloniex is the crappiest exchange you can possibly find though..
-Bad Customer support
-Full of horror stories
-Money disappearing
-etc

Regards,
Trump

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