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Author Topic: Minimum fee to transfer bitcoin  (Read 1103 times)
winspiral
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October 29, 2017, 10:30:49 AM
 #41

I'm in same situation...fees are very high.
I try to limit the dust in my wallet.

stompix
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January 10, 2018, 01:20:57 PM
 #42

Luckily, Bitcoin users aren't completely without options right now. One thing you can do is wait until the network is less strained (at night, during the weekend), which is when transaction fees will go down. 

This one is pretty funny...
And when is this night happening?

Because at 3 PM here, it's already night in Japan and it's 8 AM in New York.
And when it 00:00 in LA , it's already morning and sunshine in Europe.

The obvious option is segwit. That or pay more.



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colonel_koval
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January 10, 2018, 01:32:40 PM
 #43

The minimum fee to transger Bitcoin is 1 satoshi. It will take a while for that to get confirmed probably though so you can get it bumped up to have it confirmed faster.

It is just outrageous that people can really give such a bad advice to anybody. The author either knows nothing or is misleading the OP.

I had a few transactions recently and the MINIMUM I paid was 7,5USD for 300 byte transactions, BUT it took two days two confirm. I had a 1 dollar transaction only once  back in December, but it was unconfirmed for more than three weeks.

If you create a transaction paying 1 satoshi, I can bet it will NEVER be confirmed, and it will cost you a lot of nerve and frustration and looking for ways to push it through anyway. Please know that currently the accelerators are either scam or they cost between 100 and 200 dollars per transactions, so it is better to inteligently set a fee that will be confirmed in reasonable time.

For that you can use this service: https://btc.com/stats/unconfirmed-tx . They tell you what is the best fee but better yet you can study the fee diagram and pay somewhat less but still be reasonably sure it will get confirmed in reasonable time
wagi
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January 10, 2018, 01:39:21 PM
 #44

The minimum fee to transger Bitcoin is 1 satoshi. It will take a while for that to get confirmed probably though so you can get it bumped up to have it confirmed faster.

If 1 satoshi you set as the fee so you can wait untill one year to confirm your transcation.
Make it higher then you will have your transaction confirm faster. But if we set higher fee it seems like we will pay more fee than the amount you will pay.
supermine
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January 10, 2018, 01:42:08 PM
 #45

There is no fixed minimum fee in bitcoin transaction it will be changed according to your wallets and some wallets have customization option so you can select the fee according to your desire but if you set too low fee then you transaction will be unconfirmed forever.So it is better to select the recomended fee for faster transaction,currently the fee is too heavy due to over load on blockchain network.So you have to use segwit address to reduce the fee little bit.
bitcoinmasterlord
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January 10, 2018, 02:07:47 PM
 #46

There is no fixed minimum fee in bitcoin transaction it will be changed according to your wallets and some wallets have customization option so you can select the fee according to your desire but if you set too low fee then you transaction will be unconfirmed forever.So it is better to select the recomended fee for faster transaction,currently the fee is too heavy due to over load on blockchain network.So you have to use segwit address to reduce the fee little bit.
Past last one month the miners are collecting a huge amount for a single transaction. And after paying a high fee also we need to wait for a long time to receive our bitcoins. But now if we pay high fee confirmation will be done quickly, but still the fee is high. Don't know when this issue is going to resolve. And blockchain network is too worst.
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