question about transaction fees...

[imdabest239]

$60? they are stealing you, the fees are not even $28 at the moment, they are very high but you are paying the double of what you really need to pay.
Stop using that wallet, they are stealing all your money

[kevoh]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Agreed that transaction fees have increased in recent weeks but yours is way higher for this transaction. $60 is just too high! Something is wrong with your transaction. Have you been gathering dust with that wallet address before sending ? If yes, then gathering of smaller payments needs to be consolidated, hence, the high fee. Post your transaction hash id, let's see.

[pugman]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

What the actual fuck? I should consider myself lucky for I paid 16$ for  a 500$ transaction. 60$ is too much for a transaction worth 200$. Obviously the difference between the balance and the amount of money you're getting is going go to be the transaction fee. I don't use ANX but some issue must be there, contact the support and check what the issue is. And always check this website : https://bitcoinfees.earn.com, for the current network's preferable transaction fee.

[darewaller]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

Why do you believe this issue will be solved within the week?

Because busy traffic happen when got holiday or weekend. Next week are still new year date, so these could be still many pending transaction. Maybe after 1 month, everything back to normal.

Yes, the high fees are due to the high traffic, and even the transaction time would be taking a little more longer than usual. Lastly I made a transaction, the fee I paid for the transaction was about $30 or $35, which is something I have never paid before ever since I started using Bitcoin. One of my friends who was starting newly on Bitcoin and had about $16 in his wallet couldn’t send it out cause it keeps telling him he had not much amount.

[syaripudin]

There are some things that cause the transaction costs to be very high and one of them is the number of people who make a delivery at this time where now is a time when many people are doing a transaction or delivery bitcoin they have. busyness and then this server is crashed which causes the price on a transaction so high. and this is likely to encourage the occurrence of a hardfork that will address the issue of the cost of paying for a bitcoin delivery at this time. with the existence of hardfork of course network traffic will temporarily be controlled so that this will reduce a shipping network traffic and will be able to restore at a cost with normal price.

[boyptc]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Too sad that you don't know that there is a congestion in the blockchain network and all of us needs to pay higher fee so that it will be confirmed otherwise it will stay long in the network. All exchanges are affected and as well us who are using it.

[Swenna]

Well now transactions fees now is too high because the traffic is lot on the blockchain network and if you want to get the transaction confirm fast then pay more to get priority.So try not making any transactions and wait for the network's traffic to get less.Lightning network would definitely make transactions fees less and confirmations speed high.

Yes, it will be quite advantageous and more practical. And probably more people will prefer this way of transacting rather than relying on bitcoin's high transaction fee and long period of transaction. But, if the traffic in the blockchain is lessened, then this will also solve the problem of long period transaction.

[waitforme]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

The current price of Bitcoin is very high so I think we should trade and get rid of altcoin instead of using Bitcoin.

[Zadicar]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

The current price of Bitcoin is very high so I think we should trade and get rid of altcoin instead of using Bitcoin.

For now this thing would be suited to do because bitcoin or tx fees as of now is really high and wont really be nice if we do make small amount transactions which we should wait for more months or on times where tx fee would go down before we would make some transactions but we do really have another options which have being said we can make transaction on some alts which we do know that it is much lesser and more faster than bitcoin and this is what I'm doing now.

[arpon11]

Using bank to send money now is far cheaper than bitcoin because of this transaction fees we are currently experience. Could you imagine I was charged  $300 for sending  $1,000 I think something has to be done about this before things get out of hand. The mining fees we are currently experience is across all the wallet providers and exchanges sites. I have decided to use ethereum for now for my transactions.

[jackky]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

The current transaction fee is so high that we see so many platforms still keeping transaction fees down so I feel sad for this.

[andamers]

I also find it very troubling because the price of BTC is already very high. When people trade very little, they can only buy a small part, but they have to pay very expensive transaction fees. This is unreasonable.

[Mahanton]

Using bank to send money now is far cheaper than bitcoin because of this transaction fees we are currently experience. Could you imagine I was charged  $300 for sending  $1,000 I think something has to be done about this before things get out of hand. The mining fees we are currently experience is across all the wallet providers and exchanges sites. I have decided to use ethereum for now for my transactions.

When we are talking on the current situation of fees then i would really switch back into our traditional bank transfers since they do only charge little bit cheaper than on the current fees of bitcoin asked as of now in each transfers. Back in previous weeks ETH network is congested but now it is gradually depleting and becoming normal again as long you put sufficient gas then it wont really be too hassle on confirmation times.

[Kemarit]

I also find it very troubling because the price of BTC is already very high. When people trade very little, they can only buy a small part, but they have to pay very expensive transaction fees. This is unreasonable.

I understand where you coming from mate, and don't worry you are not the only one seeing this kind of issues. The fees are really killing us all, specially small and casual traders like you and me. That's why I give up trading like 6 months ago, but do seldom trading from time to time specially the peak of bitcoins. Was quite surprise that I have to pay high fees just to transfer my small profit.

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

That's a total hold up mate. $200 is way too much. I think you need to get back at them and check why the fee's is too high. I'm not paying $60 if I were you. On the other hand, I understand you that hard aches, but bank transfers? I don't think so. Bitcoin is still a better alternative, I think its better if you would just wait till the mempool congestion will go down a little. But don't you worry, I think with all the testing on LN, it could be implemented next year and all this high tx and slow confirmations will be a thing of the past.

[dewi91]

I think you have to wait for a few days may be transaction fees will go down.. 2 weeks ago when I want send my bitcoin and transaction fees reach $ 40 but in few day I try again to send my bitcoin and transaction fees dropped become $ 4..

[harizen]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

$60 is too much even with bitcoin congested network. I think you need to understand ANX fees. Try to read their terms about fees. It should be in the FAQ I guess.

The highest fees I encountered nowadays is around $40 at the current bitcoin price rate. Our local exchanger charges BTC0.002 to BTC0.003 as high priority. Do you see how much in bitcoin value are they charging you? Since you posted this thread on Dec. 27, the price rate that day is playing around $15,800 to $16,400 so maybe that's the reason why there's a bit of increase on USD value of their fees but still no changed in terms of bitcoin value.

[dothebeats]

That's nuts. Never paid more than $30 on my transfers in our local exchange and the fastest and economic fee they charge is 0.0001274 at the time of this writing. It could be that your exchange is also taking a cut on the transfers (which I find greedy) that is happening within their exchange as a means of them maximizing their profit. Either way, you need to look for another exchange that works for your needs. especially your BTC since that feels like a big rip off on you.

[_Dawid_]

Get used to it dude, bitcoin fees were always high but nowadays when we have huge traffic there is even higher fee... Unfortunately for people who has invested before and now want to withdraw their money or just send somewhere...
We will see how the new fork will help, maybe you will have better opportunity to send your BTC.

[1Referee]

I think you have to wait for a few days may be transaction fees will go down.. 2 weeks ago when I want send my bitcoin and transaction fees reach $ 40 but in few day I try again to send my bitcoin and transaction fees dropped become $ 4..

In some cases you can't wait days for the transaction fees to go down, where they might even increase further. In this case, the transaction fees have dropped significantly, all the way to 0.00149BTC from +0.002BTC, which is a clean 25% decline. I however can't see anything that hints at the $4 fee that you are talking about. It might be that you were just lucky to have your transaction confirmed with just $4 in fees. Usually if you send your transaction with such a low fee, and especially with how cluttered the network is, miners won't even bother looking at your transaction because there are enough transactions they can confirm that contain a higher fee. It's either just luck, or you made use of a transaction accelerator.

[shield132]

Get used to it dude, bitcoin fees were always high but nowadays when we have huge traffic there is even higher fee... Unfortunately for people who has invested before and now want to withdraw their money or just send somewhere...
We will see how the new fork will help, maybe you will have better opportunity to send your BTC.

No, you are wrong. Bitcoin fees weren't high always, it was very, very low and economy 2 years ago. When we see high price, traffic grow too, much transactions were made because of high number of bitcoin users. But we got high price + high number of satoshi/byte, that's wrong here. We had a fork of bitcoin cash, I think it will do a good job to take original bitcoin's place.