Buy bitcoin for 10USD, transaction fees is 6USD

[sab1234]

Hi,

Lets say I want to buy bitcoin for 10USD. Do I have to pay 6USD as transaction fees? How do you trade really small values of bitcoins?(Withdraw from one bitcoin wallet to another?)

[AdolfinWolf]

Hi,

Lets say I want to buy bitcoin for 10USD. Do I have to pay 6USD as transaction fees? How do you trade really small values of bitcoins?(Withdraw from one bitcoin wallet to another?)

No. It surely isn't 6$. There might be some services that charge that much, but it really isn't needed. To check how much fees you need to add, use https://bitcoinfees.21.co/

to get the right sat/byte. Also if your tx has no priority, you really don't need to add a 180/b fee.

[mk4]

You definitely do not have to pay $6 transaction fees. I usually only pay only like 10 cent transaction fees. You only pay high if you're like in a rush. Depending on what wallet you're using, you should be able to adjust the transaction fees. Use custom fees if possible, since most "Super Economy" transaction fees still end up more than a dollar.

[TrumpD]

Hi,

Lets say I want to buy bitcoin for 10USD. Do I have to pay 6USD as transaction fees? How do you trade really small values of bitcoins?(Withdraw from one bitcoin wallet to another?)

What wallet are you using?Most web wallets allow you to adjust your fees downwards. If you are still seeing the high fees. Do not send the transaction and wait a few days, things will cool of and the fees will go back to normal. At least with Mycelium it would.

[OmegaStarScream]

If you're going to deal with an exchange then you will have the service fees (of that exchange) and the transaction fees (from the bitcoin network). If you're going to buy them from another individual where there is no third party fees then the fees shouldn't be that much, unless: you received too much small payments or the algorithm of whatever wallet you are using is bad.

[altcointalk14]

Hi,

Lets say I want to buy bitcoin for 10USD. Do I have to pay 6USD as transaction fees? How do you trade really small values of bitcoins?(Withdraw from one bitcoin wallet to another?)

The opportunity to meet with such a big tax is quite low, but you can try to buy IT on unreliable portals with such a tax, but for what? In general, everything is much smaller than you wrote here.

[gentlemand]

Those fees are quite possible because you're at the mercy of the fees of the sender. The only thing you can do is choose the service with the lowest fees, and I haven't heard of any charging that much on a regular basis, but services are traditionally painfully slow in keeping up with the fee situation. I suppose it would be a full time job constantly adjusting them.

If you have control over your BTC and you're not in a hurry then very low fees are still possible if you have a wallet with fee control, however the days of paying nearly nothing for the next block are patchy at the moment and numbered for sure.

[retprogramisto]

Set a custom transaction fee e.g. with coinb.in, blockchain.info web wallet, electrum desktop wallet. You can set a fee of $0.25 and the transaction will confirm in some hours.

[Jorosss]

Hi,

Lets say I want to buy bitcoin for 10USD. Do I have to pay 6USD as transaction fees? How do you trade really small values of bitcoins?(Withdraw from one bitcoin wallet to another?)

If you are going to send only a small amount its better if you just limit your number of transaction. Anyway it depends on your wallet, in blockchain wallet if you are sending a bitcoin you can use customize fee of your choice ex. 50 per byte depend on the amount you will send.

[erre]

It depends on your hurry.
Actually 20 sat/b is enough to get a confirmation within 3 hours, that's enough speedy for most txs

[jack05]

It is impossible to pay so much for transaction. Maybe you must change your wallet. I recommend you blockchain because all transaction price is very low

[gmf1000]

Hi,

Lets say I want to buy bitcoin for 10USD. Do I have to pay 6USD as transaction fees? How do you trade really small values of bitcoins?(Withdraw from one bitcoin wallet to another?)

It depends on which service you use, and which wallet your BTC is located...
Usually it doesn't cost that much for my transaction ~

[tyuner4]

$6 transaction fees is very high. Try checking out coinbase, localbitcoin and paxful.

[Maingtoled1958]

where you ask for 6$


bitcoin price is increase so that fee may be increase .

for 10$  between (o.o5$ - 2$)  fee will work well

[ChaosCauser]

Normally it's like around 3% fees when you buy bitcoins with a credit card, you should never have to pay that much , that's for sure.

You can use: cex.io

[BitMaxz]

$6 fee for $10 usd could be possible to happen if your bitcoin has more input expect that the weight will increase and also the fee will increase .,
So to avoid of getting high fees better to merge all of your bitcoin into one just sending it in the same address where you save your bitcoin.
But if you are buying bitcoin from a exchanges and asking for large fee i think this is impossible if they are asking that fee when buying bitcoin its not fair fee better to go in other exchanges. because you will lose if you are small trader..

[aliman00]

I think it all depends on network when he is trying to send his money...

I had that same problem the other day when I was shuffeling some btc around at one point i noticed that fee was really high... I'm using exodus and in writing moment I just wanted to chekk and fee for sending 10$ is just above 2$..

Screenshot

[A1exander]

Hi,

Lets say I want to buy bitcoin for 10USD. Do I have to pay 6USD as transaction fees? How do you trade really small values of bitcoins?(Withdraw from one bitcoin wallet to another?)

You do not have to pay $6 for transaction fees, as far as I know, currently a typical fee is much less. However, if you buy bitcoin at an exchange, there is a withdrawal fee, which is usually 0.001 BTC, almost $6 at the current rate. So buying and withdrawing BTC in such small amounts is very wasteful.

[penig]

Advice to pay so much per byte is sound but also not all that helpful for the newbie.  How many bytes in a transaction (and why does this vary)?  The bitcoinfees site is helpful, once you've spent minutes interpreting it.  At first sight its just a bunch of graph data, and tucked away at the bottom a recommendation for an amount to pay.

And that amount is in satoshis... whats a damn satoshi.  I know, but need to get the converter/calculator out, peoples brains do not normally adjust decimal places 4-8 places left and right as they jump between units.  2 dp is our standard frame of reference. 

So yeah, this stuff is simple once you know how, and know a half dozen websites to look up, but to the beginner landing in crypto-land its confusing.  I've been away from crypto for about 4 years and theres still a learning curve, and pretty shocked that ease of use has not been addressed, despite all the fancy UIs and billions invested, I still have to look up how much a transaction fee should be. 

[btcmayumana]

i know that some web wallet setup high fees for sending btc to other account address. for now i using blockchain and i can set custom fee by myself, i still satisfied.