Hey everyone I know this has probably been asked thousands of times but I just exchanged $200 of litecoin into btc using shapeshift.io and was charged $42 miner fee? That's a massive chunk that has just been lost for me just for a transfer..
Just wanted some explanation as to why the fee is so high when btc is meant to be low fee?
Thanks
Miners don't charge fees, you decide what fee you pay in a transaction.
So, when did you pay the 42$?
When they sent you the coins, the deducted 42$ and you received less btc than you bought?
https://info.shapeshift.io/aboutBitcoin Miner Fee: 0.00175 BTC ~ 28$ fee.
This is something shapeshifts decides, not the miners.
There are many transactions unconfirmed this day (around 220k) and it's increase from day to day, many miner change to another coin cause it's hard to get profit from Bitcoin this day.
What a load of bs
Bitcoin mining is 4 times more profitable than it was in January and you speak of miners switching to other coins?