17$ for a transaction fee?!!

[rayymat]

it happened to me last week, i was transferring 3$ for the fee of 17$ i was like a cat inside a chicken booth.

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[Cranidos]

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 costly transaction fee today and these past few days is because of the bottleneck in the blockchain. There are many transactions that were made in order to slow down Bitcoin's transaction processes. So in order to cope with the said attack, higher transaction fee is required in order to make your transaction pass through the network. This is inevitable unless you want to wait for hours up to days just to make your transaction be confirmed and finished.

[andron8383]

fees really  suck on BTC right now bch helped it a lot becouse of EDA system they have and bitcoin had not stable 10 min blocks.
I think that bicoin should have better diajustment for difficulty that current.
Olny good LN can help - while even segwit is not deafault on many exchanges.

[cdog]

Bitcoin keeps rising and transaction fees also go up, I'm a little annoyed when I trade Bitcoin because the fee is so high then I always exchange it to Ethereum.

[gredisgold88]

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

yes, because fee for byte. if you want send some btc with a small fee, it will take a long time, but depending on mining block. last month, I send a small amount btc, but confirmation transaction only takes 5 minutes, with fee 2 Mbtc  .

[jagdeepjd]

the unconfirmed transactions queue is piling up in these last few days due to some mining problem i read some news about mining in china . which is making the fees go up terribly.
low fees transactions are stuck for weeks now one of my transaction with low fees took 3 days to confirm.

[woas4]

Fees are increasing because the blocks are full (1mb cap). They will start going down (no idea when it'll estabilize though) once the scaling solutions are applied to the blockchain, such as Lightning Network.

Meanwhile, we can use altcoins to do cheap and fast transactions while we wait for Bitcoin to evolve.

[jossiel]

Bitcoin keeps rising and transaction fees also go up, I'm a little annoyed when I trade Bitcoin because the fee is so high then I always exchange it to Ethereum.

It's because many miners are changing the coin they are mining, some are into altcoins and others are into bitcoin cash. So the division starts there and if you want your transaction to get confirmed immediately, just pay higher fees.

But a $17 fee for a transaction, I will only avail this if I don't have any other choice. I will adjust and make it possible to pay lower fees since not all the time I'm in a hurry when I'm sending or receiving a transaction.

Also accelerators seems to be helpful to me by doing it alone but if I'm in a rush for sending bitcoin through an exchange because of FOMO, I'll pay higher fee.

[Delarock]

I don't think $17 to transfer $10-12K worth of bitcoin is all that high. Sure we all were spoiled with the sub-dollar fees to transfer any amount before this mess, but I think with growth will come higher fees.

[penig]

For years people say "use Bitcoin for these reasons" and one reason is no fees.  the fact there were always fees was overlooked because they were intangible, less than pennies. Now people say it cost $17 to transfer $10k and thats OK because its a lot of money, can't expect no fees.  I think this case is an outlier, but typical fess are in the order of $5-10 for next block, $3-5 for sometime in the next hour or less for "when ever the network feels like it. maybe".

Problem is my bank charges me $0 for instant transfers within national banking system and about $15 for international transfers.  Bottom line is high fees remove a use case for Bitcoin, cause problems for adoption.

[secondgarlic]

The increase in the fees is bothering me as well. For larger amounts such a fee would be acceptable, but for small amounts or daily transactions, the fees are simply too high right now.

[bambazamba]

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

Yes , this is very annoying . All of us are facing this problem with wallets such as mycelium . For transaction of $5 also they are asking for $10.
Now listening to $17 makes it more frustrating . The thousands of pending transactions need to be settled as soon as possible otherwise many people can think of dumping bitcoin for its mere high transaction fees . I hope a better solution than s2x come along in order to deal with this.  

[akmittal]

The transfer fees is charged according to no of transfers not by the volume. $17 for 1.4 BTC are too much. You did not mentioned your wallet or trading platform.

[Dek!]

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

Yes it was happening to me, couple weeks ago my transaction fee almost above 10%. Maybe that is cost for faster transaction if don't want your transactions take forever.

[LancienMaleAlpha]

If you want to send cheaper transfers, you could just wait for more time if you are not in hurry. But it seems like transaction fees are gonna be higher and higher until the next fork.

[rcoins0720]

that is a big amount.. congested load of traffic in the blockchain
 of course the fee will also rise it is just basic
but some of reasons maybe the exchanger or site you've trying to use has so much many pending transactions
they will use other way to confirm but I don't know what is it called hahahahah.
but thats basically it.. expect that in much more value rise of coins the more the fee will get rise too

[Su_BTC]

Now is more than 20$ for 1 transaction!

[coingrowth]

BTCfee is big worry for bitcoin investors we need to understand paying hefty fees to miners will definitely impact a lot in long run for bitcoin