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Author Topic: Why are my sending fees so high?  (Read 1516 times)
dhas
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November 30, 2017, 02:53:21 AM
 #61

The bitcoin amount is limited, it is not like any other currency (you can a lot from it that you even can't count). Also Miners of cryptocurrencies have to take fees for every transaction, like a commission for them.
That is why the Bitcoin fees are very high and the transaction can take around 24 hours or more so if you want to sell, try to sell earlier that the day you supposed to sell because it will take time.
I agree with you with you.
As far as I know the transaction fee was so high because the value of bitcoin is also high.
Aside from that it way of the owner to have a commission for every transaction you did.
It is the same as the tax added to our earning.
And it takes a lot time because of a long process in doing it to maintain the security for purpose of your bitcoin
JamesIV
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November 30, 2017, 03:46:11 AM
 #62

Bitcoin is limited. Besides, there are many Bitcoin transactions need to be executed. Therefore, the fee is so high

Dingdong7
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January 18, 2018, 01:36:28 AM
 #63

I have a little bit of bitcoins on the online blockchain wallet and noticed the sending fees is 14$ no matter how much I am sending and seems to be rising everyday... what happens if I decide to customize the fee and put it at 10 sat/b for example?

How long would that take it to transfer?

Ive also experience transferring money with a high fee. I would suggest you to have a local app  bitcoin wallet which allows you to transfer coin for free. Transferring coin from a platform to other kind of platform has really a big fee. This is one feature bitcoin has to develop, tgw transaction fee is high and tge transaction is also slow. Well, bitcoin is still on its development and we could expect this to be improve. By the way, transferring a coin with same kind of platform has really no fee.

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