Ridiculously High Network Transfer Fee on Coinbase

[mikeyd7070]

Hello. I am trying to transfer 50$ worth of bitcoin from coinbase to another wallet. The network fee is 16$ to make this transfer, so I would only have 33$ left. Never seen the fee this high. Any and all help appreciated. I tried using another wallet for the transfer and it is still the same fee

[mikeyd7070]

bump

[icanscript]

Do not make small payments using bitcoin.
There are a lot of cheaper coins for this.

[mikeyd7070]

How do you mean? I've been using bitcoin for quite a while and have never seen the network fee be this high. Is it a coinbase thing? Just really mind boggled

[harizen]

Hello. I am trying to transfer 50$ worth of bitcoin from coinbase to another wallet. The network fee is 16$ to make this transfer, so I would only have 33$ left. Never seen the fee this high. Any and all help appreciated. I tried using another wallet for the transfer and it is still the same fee

What kind of help do you need? You can't modify fees in Coinbase nor anyone here. The fees will not changed no matter where should you send it because Coinbase is the sender. You have no choice but to deal with their fees.

Also while bitcoin price is increasing, you can really feel much the fees in terms of USD value. I just checked the fees now on Coinbase and it was around BTC0.001.  It was their usual fees but because of the current bitcoin price, USD value for it increase.

[kahc]

How do you mean? I've been using bitcoin for quite a while and have never seen the network fee be this high. Is it a coinbase thing? Just really mind boggled

Transfer your bitcoin from Coinbase to GDAX, then send from GDAX to your wallet.

[minersday]

Hello. I am trying to transfer 50$ worth of bitcoin from coinbase to another wallet. The network fee is 16$ to make this transfer, so I would only have 33$ left.

it is not a coinbase issue, it is happening on almost all the blockchain. just check this website:

https://bitcoinfees.earn.com/

The minimum fees are 106,000 satoshis (around 0.00106 btc) actually, it is more than $17 dollars, that is insane, and i am not going to pay that amount of money just for sending a payment.

If it is an urgency, then pay those fees, but yes, they are insane and i am sure that the little holders are not going to spend those kind of fees just for a single tx.

Once that the lightening network is released, the whole bitcoin community would be happy with tiny fees.

[mikeyd7070]

Ya transferring from GDAX was fee free. Thanks for the help. However sending from my other wallet to destination was a pretty big fee. This is out of control. Lol. Guess i'll have to deal with it.

[kahc]

Ya transferring from GDAX was fee free. Thanks for the help. However sending from my other wallet to destination was a pretty big fee. This is out of control. Lol. Guess i'll have to deal with it.

Glad you figured it out.
A lot of people still don't know that

[chacha66]

I think the BTC world learned a lesson today. BTC is rather s$%te when it comes to fast tranaction and cheap way to send cash. So litecoin goes up because it kicks BTC as* at this. Bit a shock to the system, we all knew this was the case but never thought it could be this bad. Some people are waiting days. I just sent litecoin- <10 secs .
Cushty x x

[bitterguy28]

Hello. I am trying to transfer 50$ worth of bitcoin from coinbase to another wallet. The network fee is 16$ to make this transfer, so I would only have 33$ left. Never seen the fee this high. Any and all help appreciated. I tried using another wallet for the transfer and it is still the same fee

yes people hate the high tarnsaction fees of coinbase i think one of the reason always i said why the transaction fee is to high its because the bitcoin price is high price value thats why transaction fee is very expensive.

[mrdrumspin]

that is why i am saying bitcoin will not get generally accepted. there are better altcoins out there!

[ssocoin]

so far, most of the transfer fee of bitcoin is 0.001BTC, as the current market price,around $16, it is expensive,some market allow to adjust the fee by ourselves, but, if we set the fee too low, it may not make the successful transfer, hope the fee may reduce later.otherwise, it become the obstacle of the bitcoin.

[Ryan Dugan]

Hello. I am trying to transfer 50$ worth of bitcoin from coinbase to another wallet. The network fee is 16$ to make this transfer, so I would only have 33$ left. Never seen the fee this high. Any and all help appreciated. I tried using another wallet for the transfer and it is still the same fee

What kind of help do you need? You can't modify fees in Coinbase nor anyone here. The fees will not changed no matter where should you send it because Coinbase is the sender. You have no choice but to deal with their fees.

Also while bitcoin price is increasing, you can really feel much the fees in terms of USD value. I just checked the fees now on Coinbase and it was around BTC0.001.  It was their usual fees but because of the current bitcoin price, USD value for it increase.

It seems to me that 0.001btc is the going rate right now for most transactions. I used that amount for a fee on 0.007btc and paid 0.00116 for 0.0145btc. It is very high. I remmeber when it was few tensw of thousands of satoshi, now we up to 0.001btc

I think the best bet is to try another exchange but check to make sure you know what their fees are beforehand.

[Sarastiche]

Hello. I am trying to transfer 50$ worth of bitcoin from coinbase to another wallet. The network fee is 16$ to make this transfer, so I would only have 33$ left. Never seen the fee this high. Any and all help appreciated. I tried using another wallet for the transfer and it is still the same fee

Low transfer fee is part of the advantages in the cryptocurency platform compare to the banks,reason why we need regulators in the crypto world,lits of exchange fee this day is quite high