Why bitcoin transaction fee keeps increasing?

[mrayazgul]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

I thought i am the only one who is worried about the fees but reading these threads i see much of the bitcoin community  Probably as bitcoin is growing so the fee is also keep increasing with bitcoins. I think the reason is its Value. There's a lot of people who use the bitcoin for small transaction are more worried about the fee.
I hope bitcoin community will come up with some solution. Maybe they need a hard fork to solve this issue of high fee.

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[futuret]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

In my own thinks that coinbase is increase there transaction fee,due to the value of btc in the market is still increasing and every transaction of bitcoin have a counterpart value in terms of changing or trading that's depend on the platform site's you trade.

Yeah the bitcoin is being support by the people who are making the space for the bitcoin, now the bitcoin is helping a lot of the money holders and the bitcoin is the one and the only I hope the bitcoin will be use by the people and the transaction has become very fast now because the bitcoin is now available in all the areas and the holding of the bitcoin is the real and the best support now today.

[Findingnemo]

Can I know when this problem will be solved?
I have been waiting for days to make a transaction because currently fee is too expensive which is about $40 for a small transaction.

[Lamisa asfiya]

There are many reasons, people are currently using bitcoin for transactions. Bitcoin demand is increasing in the market, it is becoming popular with everyone. Now we are trading at a higher rate, the recent transaction volume has reached high.
Because of the large amount of value.

[erwin_ibrahim]

probably because more and more bitcoin users and bitcoin prices are rising ... although today bitcoin prices do not please

[socksserver3]

I think this may take place due to the reason that a lot of people are using bitcoin for transactions. The demand is high. To my mind, this is how the fee increases.

[feny.blackpink]

bitcoin fee is not increased. i think it is increased because you convert it to USD.
if bitcoin value in USD increased, then the fee will increased too. for now i think bitcoin fee is cheaper because bitcoin is not high as that time

[Tanjima]

It also might happen on basing the hight amount of Bitcoin you try to transfer so there is a high transaction fees and vice-versa.
Before you also make a trade be aware of knowing their transactions fees instead you blindly make a trade.

[chillitabit]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

it depends on the tx size and the amount of transactions on blockchain given day. If there are too many other users sending bitcoin, you will very likely end up paying more in tx fee

[elmirdo]

Bitcoin fees is independent of transaction amount. There are other factors involved like how many other transactions are happening at that time.

[mladakar]

The bitcoins transaction fee does not depend only on the amount you are transferring. It also depends on the congestion at that moment, in other words, the number of transactions happening at a time.

[CAPT.DEADPOOL]

you know that if the price of bitcoin is too high then the fees are really good but the low bitcoin price is low so the bitcoin is low so bitcoin just put us in for our future so that if the price increases bitcoin price big money you can accumulate

[sham100899]

Because bitcoin also keeps on increasing, the fee is directly proportional to the price of the bitcoin.

[stayeduptolate]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

According to me the rapid rise in the transaction fee of the bitcoin is due to the lack of regulation because there is no such proper regulating body over BTC , there are few set of people which regulates the transaction fee and may be they are rising it so could overcome some sort of losses they suffered due to deflation in the valuation of bitcoin and according to me things will go right when there will be some authorized regulating body over it and this could be only possible with centralization of bitcoin and this will also be possible when more and more people will unnderstand the fate and potential of bitcoin.

[CryptoProphet]

The increase in the transaction price depends on the chain of congestion.
The appearance of the sigwit was a very unloaded chain, this can be observed for the last time.

[Cowming88]

I think its part of their increasing of the value of bitcoin and part of the changes in their rules and regulation.

[pekavcilar01]

If a product makes you money, it makes money for others. When the prices rise, the money interruption increases. Exchange sites are also trying to make money. There is a steady increase in the number of sites with large transaction volumes.

[anjelaro]

Bitcoin fees depends mainly on the network congestion, in simple words how many other transactions are happening currently. When bitcoins was at its peak , $20000, the transactions took hours because of this reason only.

[Caxton10]

I think it is because of the many transaction on the blockchain

[queennathalia]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

Not increasing everyday, Its just like politics or auctions, So if you need to fast your transaction you need to select a higher fee. Like politics so if you need to win (Transacted bitcoin) the situation you need money to pay them to voted you. And also the auction, If you want to get the item (Transacted bitcoin) you need to bid a higher the most of us to get that. For me that's why bitcoin need to increased the transaction fee and also because of the traffic on the blockchain. A lot of transacted bitcoin for smallest fees.