Your Experience with Bitcoin Fees?

[KonstantinosM]

I just did a transaction where I paid 1 cent in fees and it confirmed on the next block. Not only that but the next block came within half a minute of me doing my transaction.

The whole thing was almost implausibly good.

Generally, I always worry about fees but they never amounted to much in my experience of bitcoin. I don't do anything special. I use the latest stable version of bitcoin core and let it calculate the fees for me, I just use default settings.

According to bitinfocharts the average is $1, but my transaction of 160 something bytes only took 0.01 cents.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

[r1s2g3]

In my last 4 transactions, I am paying the average fees of .5 (half) Satoshi per byte and transaction getting confirmed in next block. I find a transaction in which user paid .25 (quarter) Satoshi per byte.
So fees are really low,so good opportunity to consolidate the small inputs. (LoyceV already pointed this earlier).

[pooya87]

According to bitinfocharts the average is $1,

transaction fees should never be reported in $, satoshi, BTC,... because they are meaningless. a bitcoin transaction fee is only meaningful if it is reported in (amount in satoshi or bitcoin per byte or kilobyte).

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

that is why you should never use that website. it always over estimates because it wants to always be correct under any circumstances.

[bayu7adi]

it's very cheap, even I think it's the cheapest fee of all time that I know for the purpose of transferring funds
very different if you send money through an exchanger, usually the exchanger charges a fee of 0.0005 BTC per transaction, or about 3 $

[prj112031]

the fee of bitcoin transaction is lower than before and faster than before

[ralle14]

Using fees below the recommended amount is fine the estimated confirmation time is nearly the same. With a Segwit address I always pay 0.5 satoshi per byte but with a Legacy address the lowest I can go for is 1 satoshi.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

that is why you should never use that website. it always over estimates because it wants to always be correct under any circumstances.

Yeah the site can mislead you in to paying more fees even though it's not necessary.

it's very cheap, even I think it's the cheapest fee of all time that I know for the purpose of transferring funds
very different if you send money through an exchanger, usually the exchanger charges a fee of 0.0005 BTC per transaction, or about 3 $

Exchanges have different Bitcoin fees on kucoin they charge 0.0005 btc and cryptopia its fixed to 0.001 btc. One local exchange that i've been using for almost a year lets you choose how much you want to pay for fees from low to high the lowest was 500 satoshi and the highest was 1000 satoshi.

[pooya87]

With a Segwit address I always pay 0.5 satoshi per byte but with a Legacy address the lowest I can go for is 1 satoshi.

that is because you are using blockchain.info to check how much fee you paid and that site has not implemented anything of SegWit yet. what happens is that satoshi/byte is also deprecated because of introduction of "weight". so you should report your fees in satsohi per virtual bytes.
what you paid was probably 1 s/vb but since blockchain.info doesn't know what SegWit is they show you the s/b value which is lower because size in byte is bigger for a SegWit transaction.

check out https://btc.com/ explorer for real values.

[DiamondsAndCoins]

My transactions on blockchain.info are usually 4-6 cents for regular and .08-.15 for priority.  The prices are very cheap right now compared to when we were in the bull.  I remember fees in the dollar range. 

[Olayinka225]

Well...my experience with bitcoin transactions fee hasn't been good at all. You can imagine then when I wanted to send just 20$ then I was asked to pay $10 as the transaction fee and it will even take hours before it could get the needed confirmations. But recently, I just noticed that, even if you want to send $500million, you'll be asked to pay just less that $0.05, this is really incredible and I don't want the fee to go higher again rather keep decreasing.

[jseverson]

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

You can use https://coinb.in/#fees instead for a more conservative estimate. The tool you're using shows the cheapest and fastest fee, so it will always be a little higher than what you could get away with. The coinbin one, on the other hand, suggests a fee just good enough for the next few blocks so it's perfect if you aren't in any hurry.

The whole thing was almost implausibly good.

I know right? It works on every corner of the globe too. The problem is that fees could inflate when the network is subjected to too much load. Once that problem is solved, it can be a serious and disruptive competitor as a payment system. Let's see people call it a bubble then lol.

[khufuking]

Well, all that is gonna change the moment the network gets loaded once a real bull run starts, so it is just a temporary thing.

[pickledmuffin]

I just did a transaction where I paid 1 cent in fees and it confirmed on the next block. Not only that but the next block came within half a minute of me doing my transaction.

The whole thing was almost implausibly good.

Generally, I always worry about fees but they never amounted to much in my experience of bitcoin. I don't do anything special. I use the latest stable version of bitcoin core and let it calculate the fees for me, I just use default settings.

According to bitinfocharts the average is $1, but my transaction of 160 something bytes only took 0.01 cents.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

I remember back in Christmas last year when the market was going crazy, the only way to move bitcoin relativley quickly was to pay more in fees, something like $15 - 20 would cover it fairly quickly <10 min.

[Pursuer]

people's experience with bitcoin fees and generally with bitcoin will always come down to the wallet that they are using. the experts don't care, they know how things work and will get the best experience but we are talking about end users here. and they rely on their wallets. for instance if someone uses blockchain.info they will have the worst experience when it comes to fees since their fee estimation is known to be broken and give bad suggestions, either too low or too big. but good wallets such as Electrum are known to be better at suggesting fees and simplifying things for people with less knowledge and experience with bitcoin so you will get a much better experience with them.

[MinerHQ]

I remember back in Christmas last year when the market was going crazy, the only way to move bitcoin relativley quickly was to pay more in fees, something like $15 - 20 would cover it fairly quickly <10 min.

NO, that is not correct. XAPO was charging more than $100 per transaction and need to wait for few blocks mining for confirmation. It was all due to a sudden increase in bitcoin transactions but currently, the market is down and not many transactions are happening so fees have come down and transaction time reduced.

Well...my experience with bitcoin transactions fee hasn't been good at all. You can imagine then when I wanted to send just 20$ then I was asked to pay $10 as the transaction fee and it will even take hours before it could get the needed confirmations. But recently, I just noticed that, even if you want to send $500million, you'll be asked to pay just less that $0.05, this is really incredible and I don't want the fee to go higher again rather keep decreasing.

You already paying just $0.05 for such a huge money transfer but still want to go down transaction fee?

[Thirdspace]

Well, all that is gonna change the moment the network gets loaded once a real bull run starts, so it is just a temporary thing.

I think the temporary thing is the time when network gets congested for the reason you said
network has been quite normal for months with low feerate now
last year, forks hype (mainly BCH and segwit issue) caused price spike, massive tx numbers and "hopper" miners
all that factors contributed to the increase in mempool size and tx feerate at that time
and some people believe BCH supporters was behind all those problems

[LeGaulois]

Actual bitcoin transfer rates are too high, transaction time is slow. I find it obsolete and there are too many better altcoins like XLM, XRP

It's the best joke of the week. If you think it's currently too high and obsolete as you say, then go back to use Paypal. You will then understand what is a high fee to receive and to send money using it. If it was back in December perhaps you were saying it costs a fortune so...

[BrewMaster]

Actual bitcoin transfer rates are too high, transaction time is slow. I find it obsolete and there are too many better altcoins like XLM, XRP

you can make a new coin that has 1 mili second blocks and has no fees then say your coin is better than bitcoin but it won't make it so! it will still be a shitcoin that nobody uses so you can make any claim you want

as for centralized coins like XRP you should compare them with their counterparts such as PayPal, in comparison XRP is extremely risky, very slow and has huge fees.

[RodeoX]

Hi guys. Join millions of people around the world who makes 50% monthly or 25% in 2 weeks profit by donating BTC to one another. ...

Do I look high too you?
A profit from donating money to each other? That is the weakest attempt to scam I have seen a while.

Back to the topic. I use BTC all the time. My last purchase was last night and I paid about $0.06 to spend about $150.00 The people who talk about how bitcoin costs so much are people who do not use bitcoin.

[figmentofmyass]

recently, i've been paying 1 sat/byte for non-urgent transactions and something like 2-5 sat/byte where i need next block confirmation. fees are pretty cheap right now.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

i see that no one has mentioned this tool for estimating fees: https://jochen-hoenicke.de/queue/#0,24h

it's the most accurate tool i've found for comparing mempool transactions by fee rate. it blows earn.com out of the water. and visually, it's really easy to use.

[vnck25]

I only see fees when transferring bitcoins from exchanges to a different location. However if I want to purchase Bitcoins there are exchanges such as Coinbase Pro that will enable me buy them without any fees.That being said not everyone can take advantage of this opportunity. I get hit with BTC fees especially when using any of the main cryptocurrency exchanges.

[larkscrypto]

It is right that the fees in the bitcoin are really low but we have nothing to do. While the transaction fees are low, the transaction speed is very fast which an advantage is for the people. So try to process huge transaction to earn good amount of money. Low fees are compensated by the fast speed.

[Dread Pirate Roberts]

Currently fee transaction of bitcoin is still cheaper. I may have been paying a fee of up to $ 5 and priority until I got $ 15 several month ago maybe because the prices and daily transactions that occur in the market that affect the transaction fee. that is pretty normal i guess.

[mensahkkofie]

It always  feel good when transactions are confirmed within a short time especially with a  minimal cost of transaction. The fees in transactions  varies depending on the speed you want your transactions to be confirmed on the blockchain network.  

[MoneyGuardian]

Actually the fees are not high in fact it is very meager but at the same time you are getting the advantages of processing transaction at a fast speed. Rationally these fees are enough if we consider the speed of processing transaction.

[erickkyut]

I just did a transaction where I paid 1 cent in fees and it confirmed on the next block. Not only that but the next block came within half a minute of me doing my transaction.

The whole thing was almost implausibly good.

Generally, I always worry about fees but they never amounted to much in my experience of bitcoin. I don't do anything special. I use the latest stable version of bitcoin core and let it calculate the fees for me, I just use default settings.

According to bitinfocharts the average is $1, but my transaction of 160 something bytes only took 0.01 cents.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

Good for you! You paid cheaper for a faster transaction fees. The transaction fees nowadays are really cheaper compare to the transaction fees of last quarter last year. I even paid more than $40 for a transaction. It is because Bitcoin is being better.

[HistoryVampire]

Yes it seems very cheap. If have experienced a transaction with a fee of $0.05 cents then the transactions are very much easier. Usually I found the transaction cost is $1 per transaction of bitcoin but you seem to be a lucky one.

[Altas]

On bitcoin transactions I haven't faced any big issue with the transaction fee. In the withdrawal process experienced a big problem with the fee which I never expected. Exchanges have got a same fee for one bitcoin as well for 0.001btc withdrawal which is good for the large scale traders who withdraw quite often.

[Irfansyed]

Here is another important reason for the rise in bitcoin transaction fees;
Most miners prefer confirming transactions with higher fees. This has created a massive market of more incentives to miners, and thus users increase the fee they pay for a particular transaction hoping to get their transactions confirmed quickly.

[jayveerastrullo]

Withdrawing bitcoin is the best thing to do but it comes with fees. And i think  These fees are reasonable. Withdrawing huge amount of bitcoin then just paying 10000 satoshi is not a big deal. Market needs these fees for them to continue working and upgrading the system.

[CanyonsBull]

Well I think the transaction fee is very low and I think everyone will agree with me. I think the transfer is also faster than before.

[xindoa]

in the bull run last time the fee to send some btc was 18€ busy network and it took some time to get deliverd. it has improved a lot also importants of fee from a personal lvl depend on how much you have. if you have 100€ 15€ fee is a lot if you have more .... its all perspective imo

[InformerKin]

Whenever I transfer money between exchanges I use Litecoin, it's available on any exchange and the fees where always very low the same with transaction speed. But good that Bitcoin is improving.

[Kasliono]

In my view, there are several thing that affect the fees, It depends on what app or website do you use, and also how many transaction in the blockchain, there are several app/website that we cannot change the fees, they set it automatically, but there are also the other app that we can change the fee manually such as Blockchain.com. But when there are so many transaction in the blockchain, you should pay more fees to make your transaction confirmed fast.

[PureDefender]

I am newbie in the field of cryptocurrencies. I have started using BTC very recently and fortunately my experience is quite good with BTC transaction fees as I didn’t yet face any hassle.

[Barrycuda007]

The best part or feature whatever I find in BTC is they allow making transactions with very cheap of cost. So yes my experience with BTC transactions is also positive so far.

[silentgenius]

My bitcoin fees experience is quietly alright. Nothing to be mad.I withdraw my balance bitcoin and a almost a right fee was deducted to my balance and its fine.I withdraw my btc successfully.I pay a bitcoin fee and I get much.

[cryptotezi]

The bitcoin fee is very low. People can easily transfer currency from here. It charge only .0005 btc per transaction. I think it’s the lower among others one. It’s the lowest and safest process of transaction.

[darkangel11]

I never had any problems with fees. People who were complaining when the fees got bottlenecked were overpaying because they tried to fit into first 1-2 blocks and since there were so many people willing to transact they were fighting for spots. It was dumb and I actually made things harder for everyone else because instead of waiting in line people were pushing the fees into ridiculous levels like $100 for a transaction.

[Alexbelov23]

hello everyone,
also thought currently about bitcoin fees - as I am (like you actually) no fan of fees in general, I first was very skeptical (well, fee is fee, right??) bout a guy from my university started to talk about bitcoin fees lately and there we go. he also said how cheap and how fast a bitcoin would be and so I did some research... you can't compare a crypto fee to a 'standard' fee... but well my colleague was right, its really cheap and really fast... really interesting... have a nice weekend, Alex.

[Dmitry.Vastov]

I just did a transaction where I paid 1 cent in fees and it confirmed on the next block. Not only that but the next block came within half a minute of me doing my transaction.

The whole thing was almost implausibly good.

Generally, I always worry about fees but they never amounted to much in my experience of bitcoin. I don't do anything special. I use the latest stable version of bitcoin core and let it calculate the fees for me, I just use default settings.

According to bitinfocharts the average is $1, but my transaction of 160 something bytes only took 0.01 cents.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

We all know that all the crypto currencies available in the market are the decentralised one and thus the same implies for bitcoin also , as bitcoin is a decentralised crypto currency, there is no such proper authentic regulating body over the bitcoin and thus there is improper trading is going with bitcoin as there is no one to regulate the every minor thing of bitcoin like bitcoin transactions and then comes the bitcoin fee , thus leading to illegal use and decrease in number of investors and for this centralised of bitcoin is the only solution.

[BaeNaNa]

From my experience the fee and the network condition right now is really good, if you already in crypto last year then you'll remember when the network is clogged and the transaction fee is really expensive especially when the price of bitcoin rise a lot. Right now it's clearly much better but we won't know if the they spammed the network again.

[Cripinggedang]

I don't have enough experience about bitcoin. maybe you want to share your experience

[Juggy777]

I just did a transaction where I paid 1 cent in fees and it confirmed on the next block. Not only that but the next block came within half a minute of me doing my transaction.

The whole thing was almost implausibly good.

Generally, I always worry about fees but they never amounted to much in my experience of bitcoin. I don't do anything special. I use the latest stable version of bitcoin core and let it calculate the fees for me, I just use default settings.

According to bitinfocharts the average is $1, but my transaction of 160 something bytes only took 0.01 cents.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

I have been doing a few transactions myself, and I use Electrum wallet, and I never bother to set up fees as it selects the lowest fees always. A few days back I was paying slightly higher fees, and these days it's barely few satoshis, but transaction confirmation is taking longer than a day. It's good to see the blocks are being mined so quickly, and confirmations are happening so fast, I'll test again soon and post how long it took.

[A Feeder]

I'am not have an experience to bitcoin fees but based to some news that I heard and read bitcoin fees is not good at all because it was lower than before and faster than before. That's why many users are making decision that they hold their coins until it go bad to the old price.

[pokang13]

So far, I had a great experience with bitcoin fees.I find it convenient and efficient.If you have digital wallet with bitcoins, you will just click it and instantly you can pay and transact.

[LorenoCoin]

The fees are un 0.0005 btc in Binance

[Phan Long]

Low transaction fees are one of Bitcoin's strengths. Bitcoin transactions are quick, easy, convenient, and low transaction costs. That makes it go beyond traditional trading, and everyone wants to turn the traditional way into virtual currency trading to save money.

[Kprawn]

I made a small purchase today and I paid $0.55 in fees and it confirmed within a couple of minutes. I was lazy, so I used

the highest default fee in Electrum. I used a lower fee for many other tx's and all of them confirmed, so I guess even the fees

on the Legacy Bitcoin addresses are cheap and fast these days.  {I had some leftover coins in that address and I paid for

something at a local retailer and it was still a good experience} 

[r32godzilla]

Well i could not forget those bitter days particularly during last Christmas if I'm not wrong,i had to pay a terribly high fee for getting my transactions confirmed as thousands of unconfirmed transactions got marched due to more miners switching to mine Bcash.That was actually a double side attack on bitcoin by switching miners to mine Bcash instead of bitcoin and at the same time vigorously pumping Bcash by roger ver and his team to show Bcash as the true bitcoin.But now thanks to segwit activation,all things have become surprisingly normal.

[bitbunnny]

Well i could not forget those bitter days particularly during last Christmas if I'm not wrong,i had to pay a terribly high fee for getting my transactions confirmed as thousands of unconfirmed transactions got marched due to more miners switching to mine Bcash.That was actually a double side attack on bitcoin by switching miners to mine Bcash instead of bitcoin and at the same time vigorously pumping Bcash by roger ver and his team to show Bcash as the true bitcoin.But now thanks to segwit activation,all things have become surprisingly normal.

I remember the time of terrible fees too and at that moment I thought this will never end and probably get even worse. And for each transaction I was worried if and when it will be confirmed. That was one of the bigest issues Bitcoin had and a nightmare for users.
Fortunately this came to the end and now we have to admit that fees are quite reasonable, transactions are confirmed quickly and the number of unconfirmed transactions is realy small.

[dewi91]

Based my experience bitcoin fees has improved a lot especially if we compare with bitcoin fees in the end of last year, last year bitcoin fees ever reach 30-40$ eventhough your just send 50$ in btc, may be the price also influence bitcoin fees. When bitcoin price reach highest value, bitcoin fees also increase significantly.

[Cryptogid]

My first bitcoin fees experience was too bad,like high,but now bitcoin transaction fees is actually moderate and favourable now..

[fosco333]

I just did a transaction where I paid 1 cent in fees and it confirmed on the next block. Not only that but the next block came within half a minute of me doing my transaction.

The whole thing was almost implausibly good.

Generally, I always worry about fees but they never amounted to much in my experience of bitcoin. I don't do anything special. I use the latest stable version of bitcoin core and let it calculate the fees for me, I just use default settings.

According to bitinfocharts the average is $1, but my transaction of 160 something bytes only took 0.01 cents.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

Bitcoin fee is indeed quite high, but i think it is because the price of bitcoin is already high.
The other altcoins are indeed have a cheaper fee, for example Litecoin. It have very cheap transaction fee.

[ranman09]

Hi guys. Join millions of people around the world who makes 50% monthly or 25% in 2 weeks profit by donating BTC to one another. ...

Do I look high too you?
A profit from donating money to each other? That is the weakest attempt to scam I have seen a while.

Back to the topic. I use BTC all the time. My last purchase was last night and I paid about $0.06 to spend about $150.00 The people who talk about how bitcoin costs so much are people who do not use bitcoin.

This is by far the most revealing scam I have seen in my whole life. hahaha

Bitcoin really decreased in transaction fees nowadays maybe it is also because users of bitcoin/the network decreased?

[Crungcrungtin]

it's very low than i expected