Hello all,
I recently tried transferring a small amount of BTC ($2 worth) from my coinbase digital wallet to my electrum digital wallet on my laptop and while the transfer took a long time it recently completed but the overall cost of the transfer was over $30.
Anybody on here have experience with Electrum or other local wallets? Is the large cost temporary or possibly a mistake on my end?
All I did was put in my recipient address in my coinbase transfer and click transfer. I was expecting some transfer cost but not more than a dollar or two.
Definitely wasn't expecting a $30+ ordeal.
Any advice would be most helpful!
Hello.
For now, there are lot of transaction in the mem pool, some of them are unconfirmed, some of them put high fees so if people want to make a fast and with higher confirmation rate, they must follow other high fees to make the transaction happen.
In my opinion this is happen because of right now is the holiday season so people need money, and second, maybe there are some people who attack bitcoin by making a massive transaction so people will feel that bitcoin transaction fees are too high and slow (because we have seen that bitcoin has many haters that want to destroy it multiple times)
Advice? Try using transaction accelerator but i doubt it will work at this time. It is better to do your bitcoin activity outside the high season (christmas, new year, holidays, etc, and not to mention that the price is increased so much near this christmas, it made more people want to use their bitcoin more) when people doesnt use bitcoin a lot. Dont get me wrong, i want bitcoin can be used in daily task with fast and low fees transaction, but for now it wont happen, so we need to modify ourself to adapt to it.
