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Author Topic: FROM THE HUGE FEES I ALMOST LOST 200€ IN SIMPLE TRANSACTIONS - HELP  (Read 71 times)
barrentrumpet
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January 08, 2018, 09:25:54 PM
 #1

Hello,

While i was trying to make my last buy of some btc`s i was totally surprised by the losses i had through the process.

I made a transaction, that from the deposit it started from around 200€ and after deposit fees, trading fees, withdrawing fees etc it concluded to my wallet less that the half!!!

This is the first time that i experience so much loss and truly i feel like i do not understand something in the process. I red somewhere that the confirmation fees has increased really much lately but i wonder, if they increased so much how everyone is making their purchases?

After that, while i was trying to sent the amount in another account, i almost lost the whole amount. I use bitcoins more than three years now and never experienced something similar.

So, i would like to ask your opinion on the matter and if you have some proposals to make so i wont lose so much money on the process, i would be happy to hear them!

Thx in Advance
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exchange.blue
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January 09, 2018, 01:53:50 AM
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The fees has gone up tremendously! This is primarily due to increasing demand which resulted in growing btc price. While the number of transactions is growing, the size of the block remains the same (1 mb), with that in mind it now takes longer to get a transaction confirmed, because miners aren't idiots... they prioritize those who paid a higher fee.

Unless the community decides to increase the size of the block, the fees will continue to grow and confirmations will continue to be delayed. The odds of that are slim, because 60% of the community consists of greedy miners  Grin, Using bitcoin for conducting small transactions has become obsolete! I would suggest using ltc or ripple  for amounts under 1k.
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January 09, 2018, 09:21:38 AM
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Start by using a SegWit-enabled wallet. While this won't reduce the fees back to what you're used to from 3 years ago, SegWit transactions are currently the best way to reduce your transaction fees. FYI, even if sending a transaction from a SegWit-enabled address to a non-SegWit address, it is still considered a SegWit transaction.

Start by using the GreenAddress wallet: https://greenaddress.it/en/ and move your Bitcoin to it.

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January 09, 2018, 10:04:33 AM
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Why Blockchain and coinbase did not use SegWit?
I think LTC and XRP transaction fee is best and those will become lead coin markets.
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