satoshi byte fees ???

[aliitp2]

hi guys,

am on my exchange trying to transfer BTC from their cold storage wallet to their trading wallet to be able to trade with and sell,

its only: 0.012873

however they are saying i can specify the fees in Satoshi/Bytes
https://ibb.co/NTbqmqJ

how to translate this to actual fees so i can pick what appropriate to me ?...

thanks,

[1715410814]

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[NeuroticFish]

Take a look at a website like https://mempool.space/ which also shows the fee in satoshi / (v)Byte
If you want the tx get confirmed in a matter of minutes, probably around 90-100 sat/vbyte would do.
If you can wait, pay less.

I'm not sure what you don't understand, since that price bar your have there is basically telling the same.

[aliitp2]

Take a look at a website like https://mempool.space/ which also shows the fee in satoshi / (v)Byte
If you want the tx get confirmed in a matter of minutes, probably around 90-100 sat/vbyte would do.
If you can wait, pay less.

I'm not sure what you don't understand, since that price bar your have there is basically telling the same.

I was asking:
how to translate this to actual fees so i can pick what appropriate to me ?...

so 90 sat/bytes = how much in terms of BTC ?...

so i guess:

80 sat/Bytes = ($3.89)

[NeuroticFish]

so 90 sat/bytes = how much in terms of BTC ?...

Ohh, well, it depends on the size of your transaction.
It depends on how many inputs you have there (not input addresses, instead how many times you deposited in that same address), how many outputs, what type of addresses are involved into the transaction...
So I cannot give you an answer, since I have not enough info to calculate that for you.
But you can try to calculate for yourself with https://coinb.in/#fees
You can get from there the transaction size, and multiply yourself with the amount/vByte you want to pay.

[BitMaxz]

Can you tell us what exactly exchange you are talking about(the exchange where you want to make a transaction to send to their trading wallet)?

So I cannot give you an answer, since I have not enough info to calculate that for you.
But you can try to calculate for yourself with https://coinb.in/#fees
You can get from there the transaction size, and multiply yourself with the amount/vByte you want to pay.

The problem if you use coinb/in#fees it's a bit delay unlike using the live chart from https://jochen-hoenicke.de/queue/#0,24h

If he can give us some idea of what wallet/exchange he is talking about maybe I can help him to calculate the right fee for the current network condition.

[o_e_l_e_o]

You can get from there the transaction size, and multiply yourself with the amount/vByte you want to pay.

Given that he is transferring coins from an exchange's cold storage to the exchange's trading wallet, then it will (presumably) be a simple 1-input-2-outputs. It can't be part of a batch transaction if they are letting him pick a custom fee, or at most, a very small batch transaction with only a small handful of other users who have picked a similar fee in the last few minutes. A quick look on the BitOasis website however seems to suggest that their cold storage might be multi-sig, in which case transactions will be significantly larger and more expensive.

The fact that they don't tell you how big the transaction will be, and they also don't make it clear if you are calculating sats/byte or sats/vbyte is a pretty big oversight in my opinion. Best case scenario, 1-input-2-outputs could be around 180 bytes. Worst case scenario with a large multi-sig you could be 1000 bytes or more. Picking a large fee of 100 sats/byte could end up costing you more than 10% of your coins.

Perhaps it will tell you on the next page what the total fee will be? If you are in a hurry you will need to pick 90-100 as NeuroticFish has said an accept you could end up paying a very large fee. If it were me, I would pay a tenth of that and just wait for a few days.

Can you tell us what exactly exchange you are talking about(the exchange where you want to make a transaction to send to their trading wallet)?

It says BitOasis in the picture he linked.

[GeorgeJohn]

hi guys,

am on my exchange trying to transfer BTC from their cold storage wallet to their trading wallet to be able to trade with and sell,

its only: 0.012873

however they are saying i can specify the fees in Satoshi/Bytes
https://ibb.co/NTbqmqJ

how to translate this to actual fees so i can pick what appropriate to me ?...

thanks,

I even taught what you are really emphasising on is the charge's involve, because is obvious to everyone that transactions now is getting rigid in terms of transfer fee's and it also depends on the nature of black chain or exchange involve using in such transactions.

[RapTarX]

If I'm correct, you have option for not choosing fees and allow the site to guess the necessary fee. Don't go with manual process if you have no idea how this works although it's pretty simple as one,two, three- https://bitcointalk.org/index.php?topic=5139978.0

[BitMaxz]

It says BitOasis in the picture he linked.

If that exchange he talking about well, I never heard of this exchange before and it seems that the cold storage he talking about is a multi-signature wallet from BitOasis according to their faq #10 from here https://bitoasis.net/en/page/faq

So if it's a multi-sig wallet I'm sure he will pay more on fees(A bit expensive compared to a normal wallet) and it's totally different from the cold-storage wallet.
That's why there is an error when manually set the transaction fees.

Another weird thing is why they still ask for a transaction fee for transferring funds from Multisig wallet to their exchange(BTC core or BTC pro)?
So maybe you don't need to set the transaction fee because they already have a set fee for transferring your BTC from Multisig wallet to core/pro.
Maybe the manual fee is only applicable for the external wallet.


I think much better ask the support about transferring your funds from their core/pro
Their support must be here https://bitoasis.net/en/support

[OcTradism]

You can get from there the transaction size, and multiply yourself with the amount/vByte you want to pay.

https://bitcoindata.science/plot-your-transaction-in-mempool.html has its tool to calculate size of transaction.

OP need to know the type of addresses (sending and receiving).

Mempool is not big now but 1 MB from the tip is 80 sat/vbyte so exchanges will use kill fee. https://jochen-hoenicke.de/queue/#0,24h. It is good for OP that the wallet allows to customize fee and the fee from 4 to 6 satoshi/vbyte can be good now. It will not give instant (1 block) transaction but save fee and acceptable waiting time.

[Aliceooo78]

Take a look at a website like https://mempool.space/ which also shows the fee in satoshi / (v)Byte
If you want the tx get confirmed in a matter of minutes, probably around 90-100 sat/vbyte would do.
If you can wait, pay less.

I'm not sure what you don't understand, since that price bar your have there is basically telling the same.

you've been being fairly helpful I'll put your post in my note and try it later

[NeuroticFish]

you've been being fairly helpful I'll put your post in my note and try it later

Thank you!
But please also be careful and read o_e_l_e_o post, he has some good points there. Especially now that week-end is near you better use a bit smaller fee, instead of risking.

I just have another idea: if it's not your first transaction from there, you can look at an older similar transaction on a block explorer (my latest favorite is chainflyer.bitflyer.jp/ ) and see its number of inputs, outputs and size as some sort of reference.