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787875
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November 21, 2017, 09:07:36 PM
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Hello,

My wallet recommends a fee of 0.00020000, which is about 1.6$.

Is that a okay fee?
How long will my transaction take?
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DannyHamilton
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November 21, 2017, 09:12:17 PM
 #2

Hello,

My wallet recommends a fee of 0.00020000, which is about 1.6$.

What wallet (and what version) are you using?

Is that a okay fee?

Possibly.

How long will my transaction take?

It's impossible to know without knowing more about the transaction.

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November 21, 2017, 10:58:19 PM
 #3

It will be hard to know how long your transaction will getting confirm if your wanted your transaction to get confirm sooner better to pay fee  higher than the default fee..
Check this for updated fee chart https://bitcoinfees.earn.com/
And you can also see the default fee below.. If your wallet has option to manually pay for your fee better to follow the default fee or higher than the fee from the link given above.. To get your transaction more faster.

787875
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November 21, 2017, 11:07:19 PM
 #4

I use Bitcoin Core latest version. Both Kraken and Bittrex uses 0,001BTC which means about 8-8,2$

I'm gonna send a few transactions, 60min is fine.


For the median transaction size of 226 bytes, this results in a fee of 67,800 satoshis

This is 0,00067800 BTC right?
Wicked17
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November 22, 2017, 05:01:15 PM
 #5

Hello,

My wallet recommends a fee of 0.00020000, which is about 1.6$.

Is that a okay fee?
How long will my transaction take?

What wallet are you using? Some wallet have an option of customizing fee so that you can set your fee for every transaction.
How much do you send? If its a big value then .0002 is a decent fee. I cant tell you the exact time for confirming your transaction but if you pay higher fee it will be confirmed within an hour or sooner
Iranus
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November 22, 2017, 05:37:30 PM
 #6

For the median transaction size of 226 bytes, this results in a fee of 67,800 satoshis
You're misunderstanding a couple of things here:

1.  The median transaction size will not necessarily be your transaction size.  The cost of your transaction may change based on the inputs and outputs of your transaction.  That's why fees are usually measured in satoshi/byte.

2.  The fee of 67,800 satoshi is for your transaction to be included in the next block.  That site also shows information of how long it may take with a variety of different possible fees.

I found this to be quite a good article on Bitcoin Core's fee estimation.  Personally, I would trust that the estimation is accurate.
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November 23, 2017, 08:05:53 PM
 #7

Some exchangers are charging more than 0.0005BTC(more than $8) now.
So I think that fee(0.0002) is fair.

Normally it will deposit/withdraw after 2/13 confirmations, and it is depending on the coin your are dealing.
donovank
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November 24, 2017, 10:38:09 AM
 #8

For the median transaction size of 226 bytes, this results in a fee of 67,800 satoshis
You're misunderstanding a couple of things here:

1.  The median transaction size will not necessarily be your transaction size.  The cost of your transaction may change based on the inputs and outputs of your transaction.  That's why fees are usually measured in satoshi/byte.

2.  The fee of 67,800 satoshi is for your transaction to be included in the next block.  That site also shows information of how long it may take with a variety of different possible fees.

I found this to be quite a good article on Bitcoin Core's fee estimation.  Personally, I would trust that the estimation is accurate.

This

Great URL btw, thank you for sharing

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