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Author Topic: How much Tx fee should I pay ?  (Read 965 times)
CoinLearn
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February 08, 2014, 02:32:16 PM
 #1

I need to make my faucet payment where a total of 0.001 BTC will be distributed among multiple recipients. I would like to know how much Tx fee should I pay for this ?
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keithers
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February 08, 2014, 04:59:10 PM
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Just pay the default amount
rix5
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February 08, 2014, 05:46:02 PM
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if it doesn't matter if it arrives a few days later you can also pay no fee at all
keithers
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February 08, 2014, 06:08:13 PM
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If you are messing with the Tx fees make sure you put the decimal in the right spot! You dont want to end up sending more in transaction fees then the entire amount you meant to send Smiley
CoinLearn
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February 08, 2014, 06:59:33 PM
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Just pay the default amount

What is the default amount ? I am using BlockChain.info web wallet.
DannyHamilton
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February 09, 2014, 05:42:49 PM
 #6

I need to make my faucet payment where a total of 0.001 BTC will be distributed among multiple recipients. I would like to know how much Tx fee should I pay for this ?

That depends on how many recipients you are paying, and how many inputs you are using to build your transaction.

The standard fee right now is 0.0001 BTC per kilobyte.  Each input will be about 180 bytes or so, each output will be about 34 bytes, and there will be approximately 10 bytes in fixed size data in every transaction.

Sonny
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February 10, 2014, 07:49:12 AM
 #7

I need to make my faucet payment where a total of 0.001 BTC will be distributed among multiple recipients. I would like to know how much Tx fee should I pay for this ?

The tx fee depends on how large your tx size is (in KB) rather than how much bitcoin you are sending out.
So, to know the tx fee you need to pay, you need to know how many inputs and outputs are in your tx.
SEREGA1980
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February 10, 2014, 09:22:48 AM
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if it doesn't matter if it arrives a few days later you can also pay no fee at all
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