17$ for a transaction fee?!!

[pierr]

Hi,
this morning i was surprised to see that to transfer 1.4btc from my ledger nano to kraken the cost of the transaction fees was 17$??
Anyones have some reasons why it costs do expensive?
Thanks

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[d0nsly]

it happens alot
these days miners are charging alot

[X7]

Use segwit?

[aso118]

it happens alot
these days miners are charging alot

It is not the miners charging exorbitant fees. It is just that there are a lot of transactions pending and limited transaction capacity. The only way out is if Segwit 2x or Lightning network get implemented. The transaction backlog will reduce after a few days, but that is not a long term solution.

[Temik2704]

Some time later it will grow and grow. If now it`s 17$ - 2 years later it could be 50$+
If BTC price is 500 000 $, then middle fees will be 250$ per transaction.

[delbarbour]

probably lot of unconfirmed transaction in the queue so you need to pay more for miners to get priority

Right now its about 100k waiting which is not normal usually between 20-30k

https://blockchain.info/unconfirmed-transactions

[50ouncebrew]

Well for that amount in BTC that is not a bad fee considering current network conditions. This is the fee you must pay to get the transaction through. You can pay less using wallets that allow custom fees,  but that just means you will have to wait a little while longer until the network can confirm it. Anyways BTC is not meant for spending right now it's meant for saving.

[stompix]

Some time later it will grow and grow. If now it`s 17$ - 2 years later it could be 50$+
If BTC price is 500 000 $, then middle fees will be 250$ per transaction.

This is stupid.
The fee has nothing to do with the price.
The fee is determined by the number of transactions that wait to be included in a lock. Offer and demand for the space in a block.
If no one would pay more than 1$ the fee would go to maximum 1$.
But there are one who can't wait and pay 5-10-15 or even 20.

Who do you think is going to pay a fee of 250 when even an international transfer between different banks is going to be cheaper?
Already people who want to transfer 10 or 20$ are choosing to wait, if the average goes to 50$ they will probably quit or try and use segwit.

[akram143]

Hi,
this morning i was surprised to see that to transfer 1.4btc from my ledger nano to kraken the cost of the transaction fees was 17$??
Anyones have some reasons why it costs do expensive?
Thanks

The only reason for the high transaction fee is due to the number of unconfirmed transactions are more than the normal condition.So the blockcahin community needs more miner confirm the transactions as quick as possible so they are attracting miners through by giving high rewards for the confirmation process.So we have to pay that high rewards to the miners to completing our transactions.

[snakey]

This nothing i was to send BTC payment to 6 people at the sametime and i needed to pay 13$ just to split the money. It is getting insane, i recommend payout to people in ETH or LTC, but they don't accept.

[amspec]

yeah me to in my wallet i want to send some bitcoins but i saw the fee so i didnt do it

[pierr]

Thanks for you replies.

[andiko]

The commission for the transaction has recently become very large and what if the transfer amount is not large? I think bitcoin not soon will be used for micropayments.

[freeElectron]

It is becoming an obsolete technology due to the infiltration of the core developers and steering BTC in the wrong direction.

They want to make banks that settle on the BTC blockchain, but you will not see anything of it. You will have a classic account and people in the power to part you from your money.

[Lucius]

Hi,
this morning i was surprised to see that to transfer 1.4btc from my ledger nano to kraken the cost of the transaction fees was 17$??
Anyones have some reasons why it costs do expensive?
Thanks

So you think 17$ is too much for transfer 1.4 BTC which currently cost over 9000$?

Of course we would all like to pay less fee,but given the current situation this fee is quite normal if you want to your transaction be confirmed in a reasonable time.There is always option to set your fee manually,pay less fee and use some transaction accelerator to speed up your transaction.

Until the current problems are resolved we have to get used to such things,and of course you have to keep in mind that there is always a way to pay less fee if you think that recommended fee is too high.

[pugi2]

Hi,
this morning i was surprised to see that to transfer 1.4btc from my ledger nano to kraken the cost of the transaction fees was 17$??
Anyones have some reasons why it costs do expensive?
Thanks

I think it make sense that the fee $17 to send 1.4 BTC. I see in other thread  the fee is almost tje same with the amount they sent around $22.

[sharkvn]

$ 17 for me is a big expense. I usually see transaction fees in the floor about 2%. Consider the profitability of the transactions to calculate your profit.

[hendri05]

Hi,
this morning i was surprised to see that to transfer 1.4btc from my ledger nano to kraken the cost of the transaction fees was 17$??
Anyones have some reasons why it costs do expensive?
Thanks

that's normal because 90k ++ Unconfirmed Transactions
https://blockchain.info/unconfirmed-transactions
more fee more fast confirmed, low fee using altcoin.

[rizkyhiw]

Hi,
this morning i was surprised to see that to transfer 1.4btc from my ledger nano to kraken the cost of the transaction fees was 17$??
Anyones have some reasons why it costs do expensive?
Thanks

This may be because the fee of miners is basically calculated based on the amount of transaction data. Many inputs in transact cause the transaction size to be very large, so it will cost more. A lot of feedback here means that bitcoin in the wallet address is the accumulation of many previous transactions, now, the more the number of these transaction entries, the higher the cost. For a size above 1BTC it is not a high cost. I myself have sent 1.2BTC and got fee $40

[Text]

Is there any option to choose from how fast you want your transaction to be confirmed? Like low, medium, and high? When I send bitcoin to another address using third party wallet app, I always do prefer to use low fees only because I know it will get confirmed before the end of the day and there are free accelerator to help and push our transaction ID.