Transaction fees on BlockChain are so high

[QreNZi]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

[1715533328]

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[1715533328]

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[QreNZi]

No one have an explanation for this ?

[bitperson]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority.

Bitcoin transaction fees don't depend on the amount sent, just on the length of the transaction (and any premium the sender might wish to pay so as to ensure that the transaction is confirmed quickly). A 0.001 bitcoin transaction comprising two inputs will cost about twice as much as a 1,000 bitcoin transaction comprising one input.

[Pan Troglodytes]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

All the explanation you need is in those two links:
https://blockchain.info/pl/unconfirmed-transactions
https://btc.com/stats/unconfirmed-tx

You can see that there are at present more than 20k unconfirmed transactions, and since only 2k transactions on average can fit into one bitcoin block, it makes greedy miners choose only high fee transactions. The second link shows that you currently need to pay 100 satoshi per byte to make sure your transaction gets soon included in a block.

It is all undoubtly related to the recent slight bitcoin price increase, and is related to the fact, that any change in bitcoin transaction volume makes the bitcoin fees scyrocket. It is the proof that bitcoin is (unfortunately) destined to die if the devs don't do something to help this problem. Imagine the fees when bitcoin hits $20k mark again!

And don't start your talk about LN please!

[thelemot]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

it's because the bitcoin price is high, you can choose another way. if you want to send money better transfer to doge or other altcoin which cost lower.

[BrewMaster]

a days before i was giving 0.30 - 0.60$ for Transaction ... when i send big amount it goes up to 10$

if when you are sending larger amounts the wallet suggests a higher fee than before the only thing that is telling us is that you have a lot of dust in your wallet, probably all the tiny payments you received from signature campaign and other micro payments. and that is normal and it doesn't depend on network status (unconfirmed transactions,...).
you are simply forced to pay more because you are taking up a huge space on the blockchain thanks to your big transaction!

[neo444]

Now in coinbase the fee of transaction is 0,93 $ so iadvice you to use coinbase because the transaction fee of it is low than blockchain

[Netnox]

There has been a very small increase in the transaction fee, and it is within the tolerable limits. Two weeks back, I was paying as low as BTC0.0001 as the transaction fee. But yesterday, I had to pay a fee of BTC0.0005. Even then, it is still much better than the situation that we had during the end of 2017.

[chillitabit]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

number of transactions lets the miners to choose those with higher tx fees, which is increasing your tx fee. However you can always go for average one and just wait longer for confirmations

[Collinberg]

I noticed this as well,I think it's because the network is getting congested,when bitcoin price was low,many people just kept their bitcoin in their wallet but now that the price has woken up,many more transactions are being made,many new investors buying and some old investors selling.. This fee is small compared to what we had in January/february period,you could pay $25 for a transaction back then.

[ballerin and giroud]

The cost of expensive transactions indicates that in the future bitcoin prices will continue to rise. All bitcoin holders will not want a loss right? But, do not worry because the lightning network to be one solution to solve the problem of high transaction costs bitcoin.

[irenegaming]

No one have an explanation for this ?

The explanation is pretty easy for this. The transaction fees works on the amount of transactions happening at any given time on the bitcoin network. If there are huge number of transactions than the transaction fees is high and if there is lesser number of transactions than the transaction fees is low, just simple as that.

[stayeduptolate]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

Yes,dude I also faced this problem that the transactions fee of the block chain in exchanging BTC is increasing continuously and I guess this could be because of lack of governing body over BTC, there could be some people who regulates the transaction fee and they might be increasing it in order to recover some sort of lost occurring due to deflation in the valuation. As soon there will be some regulating body over it and once it will be centralised then everything will be regulated and there will no such issue of such high transaction fee.

[Rubick99]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

Bitcoin fees transaction is depending on Satoshi, because right now bitcoin expensive. Long time ago when bitcoin just $200 when you send your btc to other address, you just need to pay a fee under $2.

[Titanos]

I think it depends on the wallet you use and network saturation. I made a transaction through BlockChain 3 days ago with only 0.4$.

[CryptoWorld87]

I think its because you send it into deferent bitcoin wallet or because you pick the highest price to send the fastest transaction you want to recieve your bitcoin func.

[rumexx]

The fees on blockchain and timing to complete transaction has been high and too slow respectively. These two are one the major disadvantage of Bitcoin. Scalability is a major issue affecting the fees paid for blockchain and the time also.

[3acaga]

Hi, I also saw that the price for the transaction increased. But this is due to the increase in transactions and the increase in the price of the bitcoin itself.
It will be interesting to me to see when bitcoin becomes 20-50 thousand dolars, what a stupid person will make transfers through bitcoin with such large commissions for the transfer.
P.S. If there are no changes, I think that bitcoin will start to die this year.

[Vanester2014]

I think this problem was already been a long time that no one can answer i was realy hoping that the price of transaction fee got lower again just like before when i first join in bitcoin trading. Before i can send even 10,000 satoshi to my wallet or exchnager with a low fee but today the fee is too expensive.

[NeuroticFish]

I think this problem was already been a long time that no one can answer i was realy hoping that the price of transaction fee got lower again just like before when i first join in bitcoin trading. Before i can send even 10,000 satoshi to my wallet or exchnager with a low fee but today the fee is too expensive.

The transaction fee is very low. Very very low. Really.
But if you use a 3rd party service to handle your money, you rely on their automated tools to calculate your fee, which may not be optimal.
I pay some 1-2 satoshi per byte. That's 2-5 cents per transaction.

How I do that? I use SegWit local wallet on my computer, I follow https://btc.com/stats/unconfirmed-tx and I keep my bitcoin as much as possible consolidated (without too many inputs).
And then the fees are low.


Of course, it's easier to complain than act, but that's another discussion...

[TTITA]

I think this problem was already been a long time that no one can answer i was really hoping that the price of transaction fee got lower again just like before when i first join in bitcoin trading. Before i can send even 10,000 satoshi to my wallet or exchanges with a low fee but today the fee is too expensive.

I think even if it will charges about 20,000 satoshi for a single transaction, it still cheap. https://btc.com/stats/unconfirmed-tx has been giving good info's about suggesting transaction fees by unconfirmed transaction updates at the market currently. As I usually do, I make a transaction with a fee of about 10k/20k satoshi and takes 10 min max 30 mins only to get confirmed.

[squatz1]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority.

Bitcoin transaction fees don't depend on the amount sent, just on the length of the transaction (and any premium the sender might wish to pay so as to ensure that the transaction is confirmed quickly). A 0.001 bitcoin transaction comprising two inputs will cost about twice as much as a 1,000 bitcoin transaction comprising one input.

This right here, I haven't seen this crazy change in tx fees so I would assume that you're using two inputs (you have coins in two different addresses) and the problem here is that you didn't notice this. Always make sure to adjust the amount of fees you're going to be paying, as most wallets let you set your own fee which is different from the one they recommend to you.

So there is that, don't let these wallets mess ya up!

[hakertajniak]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

what coin did you talking about ? and what transaction fee ? is it the exchange tx fee ?
if exchange fee, that is the policy of exchange itself. just try to find other exchange if you think they have high fee.

[Xester]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

This is one of the problems we are facing on bitcoin. Transaction fees when sending to an external wallet is huge and it is really troublesome. But these problems are soon gonna be out of the picture when the lightning network is already implemented. Lightning network guarantees faster transaction fees with a very low transaction fee.

[angelakrasnova]

Now the prices for transactions have changed greatly, if we compare prices now and the past, I can say that now transactions are much cheaper

[onnz423]

Now the prices for transactions have changed greatly, if we compare prices now and the past, I can say that now transactions are much cheaper

This is temporary, over time bitcoin fees are likely to decrease as batching, and segwit adoption increase. There are also more and more stores opening up lightning channels that reduce the fees to almost nothing.

[AlexAtom]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

not all blockchain have a high transaction fee. look the litecoin, it has a low transaction fee.
maybe what you means is bitcoin. bitcoin transaction fee is very high because bitcoin price.

[bjmpoker001]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

What transaction fee ? what wallet did you use ? because different wallet may have different transaction fee.
if you use exchange wallet, the cost of your transaction fee will be higher. i think you should consider use the other wallet.

[VitKoyn]

I think this problem was already been a long time that no one can answer i was realy hoping that the price of transaction fee got lower again just like before when i first join in bitcoin trading. Before i can send even 10,000 satoshi to my wallet or exchnager with a low fee but today the fee is too expensive.

You are wrong, this question had been answered a lot of times before here in the forum, the price of Bitcoin transaction fees are depending on the price of Bitcoin and how many transactions are still pending on the mempool (unconfirmed transactions). Haven't you tried creating transactions this past few weeks or last month? because I can just send Bitcoin to an exchange with 10 satoshi per byte without waiting for a very long time for it get confirmation because there are only 1000+ unconfirmed transactions at the moment, I also use segwit Bitcoin address for cheaper fees. I'm surprised that some people here still don't know that we can now pay transaction fees less than $1 in Bitcoin.

[stayeduptolate]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

I also reassure this news that the users are now facing a high transaction fee while transacting in exchanges and I guess this is exhaustion of consumer rights and may be this is because of the lack of regulating body over bitcoin that there is no authorised regulating body over bitcoin and therefore who are over bitcoin who are watching bitcoin transactions may be exploiting consumers and charging very high transaction fee to them so in present scenario the legalisation and centralisation of bitcoin is very much necessary world wide.

[zhagedus]

We have heard them saying that the transaction fee for Bitcoin is on a high side. I personally face big challenges any time i want to sell or buy Bitcoin because of it high rate of charges. How i wish that they can look into it and try as much as possible to subsidies it at lower rate. Though there are other Altcoins that have high rate of fee for there client too.

[thorvald]

The fees usually change with the congestion on the network. If there are too many people using BTC today you will see the price of the fees go higher as people compete for tx priority

[russaa8]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

A week ago I was amazed at how low the commission was at the transfer of 0.07 bitokoyn. Only 192 satok! The transfer took a very short time. It's very, very cool. Has everything changed and the commissions are again high?

[Domenc]

Just before answering this question checked the latest transaction fees for bitcoin payments and it seems to be normal. I think this much fees is minimum required by the miners to fulfill their demands also after all it is due to miners only that we can make successful transaction everyday. Also transaction fees generally shoot up when there is too much congestion but this problem is also faced at rare time only.

[Pan Troglodytes]

Just before answering this question checked the latest transaction fees for bitcoin payments and it seems to be normal. I think this much fees is minimum required by the miners to fulfill their demands also after all it is due to miners only that we can make successful transaction everyday. Also transaction fees generally shoot up when there is too much congestion but this problem is also faced at rare time only.

As I said above - it is normal only now, because number of bitcoin transactions is very low (because the price movement has stopped). The moment it starts again, the fees will be very high again. Just mark my words.

[Google+]

yes you are true the more expensive bitcoin price then it is definitely the cost of shipping is also more expensive because it is definitely what makes the high price bitcoin is the density of bitcoin transactions and hard to get the bitcoin so make the transaction dense and expensive.

[stayeduptolate]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

I too agree with this and I personally experienced that thing that while transacting through any exchanges the transactions fee are very high and now this thing is troubling users in their bitcoining and there is very old saying in English that if your time is wrong then everything happens wrong to you and same thing is happening with bitcoin as valuation is deflating and now the transaction fee has been increased and these all issues are now demotivating people to invest into bitcoin and I think this could be because there is no perfect set of rules and regulations over bitcoin and this could be only possible when bitcoin will be centralised all over the world.

[voron84-05]

If you consider the amount of commission for the transfer of BTC in dollars, it turns out that it depends on the cost of the bitcoin itself, and it becomes obvious that when the BTC is expensive then the commission is high. At the same time, the cost of commissions depends on the workload in the BTC network, it is enough to recall the last autumn and what were the huge commissions.

[sarajahon]

Radoslav Albrecht of German established an online bank, Bitbond. It provides clients to transfer loans to any part of world utilizing Bitcoin. Bitbond utilizes digital currency like Bitcoin to circumvent the international transfer system. It lends finance all over the world and the service is fast at an affordable price.

Read more:- https://coinpedia.org/news/bitbond-provide-loans-bitcoin-cryptocurrency/

[ThePogi]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

The transaction fees are raging due to several factors. One is the size of the block in Bitcoin's blockchain, which is limiting the number of transactions that can go through at any given time. Bitcoin's network is powered by miners, people and companies who use a tremendous amount of computing power to create new bitcoins. And when there's too many transactions to process—which currently happens very often miners will prioritize transactions that pay a higher fee.
Currently miners have the time of their life. Bitcoin price is rising steadily every month. Fees are growing monthly as well. In short term really nice for them. If you look at the transaction cost chart you will see a correlation between bitcoin bull runs and transaction costs.

[Radio-Active]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

Bitcoin transaction fee is high indeed, but not all blockchains fee high as bitcoin fee.
If you using altcoins, you will know that the fee is low, it can be lower than $1.
I am using ethereum, if network stable, the fee only $0.1

[Pan Troglodytes]

If you consider the amount of commission for the transfer of BTC in dollars, it turns out that it depends on the cost of the bitcoin itself, and it becomes obvious that when the BTC is expensive then the commission is high. At the same time, the cost of commissions depends on the workload in the BTC network, it is enough to recall the last autumn and what were the huge commissions.

Not true. The price currently is very high (compared to 2015, 2016, etc.) but the fees are considered low by many, OP included; while in Dec 2018 when the price was only 2x higher than today the fees were aproximately 1000x higher. So the fees are high whenever volatility is high and bitcoin changes hands quickly (and blockchain cannot accomodate all transactions), not when the price is relatively high.

[blacksnapper94]

there are several reasons why the transaction price in the blockchain is very high among them is busy or solid Bitcoin network at this time. Typically, costs will increase as long as the fluctuations of the value of Bitcoin and the world's major events are sudden, and
Your Bitcoin wallet has a micro deposit history (such as referral bonus). If your wallet has a large number of small deposits, your transaction size will become larger because it consists of many inputs. The larger the transaction size, the higher the cost of Blockchain.

[ThePogi]

there are several reasons why the transaction price in the blockchain is very high among them is busy or solid Bitcoin network at this time. Typically, costs will increase as long as the fluctuations of the value of Bitcoin and the world's major events are sudden, and
Your Bitcoin wallet has a micro deposit history (such as referral bonus). If your wallet has a large number of small deposits, your transaction size will become larger because it consists of many inputs. The larger the transaction size, the higher the cost of Blockchain.

Yes i Agree with this one and it depends on market value also and how you want to claim your bitcoin so fast. And there a times that transaction fees are very low and so fast much better you take monitor on it time to time.

[levvv]

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

There is nothing to be weird if transaction fee still below $5. i have read from some peoples that they even pay a $14 fee.
Where does your bitcoin is ? if it on the exchange, i suggest you to sell your bitcoin to another coin first, then transfer it into your wallet.

[Danstan]

depending on what block change you use, if you are in a hurry to send BTC to someone and concern about the fee then try other that can satisfy you need or can meet your demands, if you say this block chain is very high on charging your transaction then look for another that is why we have different kind of block chains..

[komisan]

Centralization vs. Decentralization: Making a parallel, the Dollar is a centralized currency. The center would be the central bank, the federal reserve, the government, etc. This center has the power to control the issue (inflation) of the currency and to supervise/control who can transact with whom.
Bitcoin is a currency that does not have this type of center. Each participant is both user and a supervisor of the network.

[Missterio]

You can exchange your cryptavolut for a cheaper price and send it much more profitable. For example, you can buy DOGE and send with a commission of only 1 DOGE that's less than one cent.

[godfredmanu]

Transactions fee on the blockchain depends on the traffic on the network. If the network is more congested, your transactions may need higher fees to send your coins through. In time with congested network, use regular payment because if you priority, it will cost more.

[DainnyRobin]

Each transaction includes a fee to be paid to the miner.
The goal is to get miners to feed the ledger when all bitcoins have already been created. The payment for this work will be the fees that are part of the block that he mines. This rate does not have a fixed value. You can offer 1 penny, 10 cents, a million or as much as you want for transaction fee.