btc transfer cost

[intelligent.investor]

Hey guys nowadays when i send btc, its almost 150 % cost.
Blockchain.com wallet
What is best wallet...suggest me

[RickDeckard]

Hey guys nowadays when i send btc, its almost 150 % cost.
Blockchain.com wallet
What is best wallet...suggest me

Could you ellaborate a bit further what your main question is ? What does the "150% cost" represent? Are we talking about the costs associated with fees? That doesn't even make sense, here's some basic math:

% Commissions (fees for example ) =  Value of fee / Total investment.

Pratical example : 20 € (total purchase fee) / 1.000 € (investment) = 2 %


A 150 % cost means that you would actually have to may more fees than your investment (which doesn't make sense). Please elaborate whenever possible.

[OmegaStarScream]

You can start by reading this article[1] to understand how the fees are calculated. How much is the amount you're trying to send? I'm not sure how bad their fee estimation is but if you've received a lot of smalls amounts in the past, it makes sense to have these fees.

The high fees may not have anything to do with the wallet itself, but I would still suggest you stay away from Blockchain.com[2] (or any other web wallet).

[1] https://support.blockchain.com/hc/en-us/articles/360000939883-Explaining-bitcoin-transaction-fees
[2] https://www.buybitcoinworldwide.com/wallets/online/

[dkbit98]

Are you talking about transaction fees ot what?
If you are than don't use blockchain.com and their default fee settings, but better use your own open source wallet like Electrum or Wasabi and set your own fees manually.
Important thing is to follow Bitcoin mempool and number of stuck transactions, you should also reduce number of input and output addresses.

[Tytanowy Janusz]

As previous posters said - choose wallet where you can put fee manually.

Good tool to track mempool - https://jochen-hoenicke.de/queue/#0,1w

Miners can fit 2-3k transaction into 1 block. If you want next block transfer try to be in top 2000 in mempool. Note that this is in sat/vbyte not sat/byte.

[Innerpumper]

The cost of bitcoin never reaches 150% of the assets it is impossible friend, Last time transacting with bitcoin I spent 0.001 btc equivalent to about $40 rate at the moment. If you want to get a cheap fee try with other crypto such as tron.

[Furious 7]

Well, in my opinion, the best wallet is Electrum which can arrange transaction fees as we want, but that's how heavy traffic is or not and sometimes when prices are soaring, the fees will be even more expensive.
But what @ dkbit98 suggests is a good thing you can manage.
Have you ever tried other wallets besides blockchain.com?

[Jawhead999]

Just a heads up,

When you want use other wallet (e.g. electrum, wasabi) make sure you create a segwit address, it will make lower your fees rather than legacy address. Because segwit address will lower the output of the transaction you made.

[Xavofat]

Hey guys nowadays when i send btc, its almost 150 % cost.

First, wallets only have a default fee.  The fee you decide to send is up to you.  Wallets generally have similar default fees as they adjust depending on what is necessary for your transaction to be confirmed.

Secondly, the fee that you use is not a percentage of the Bitcoin you are sending, but a flat amount which is determined by how much information (in bytes) you are sending over the Bitcoin network.  To reduce your fees you should:

1.  Use a SegWit address (starting with bc1 or 3 rather than 1) to receive Bitcoin
2.  Send Bitcoin with a reduced number of inputs by accepting Bitcoin to the same address (this isn't recommended for your privacy but it's good for reducing fees)

Blockchain.com wallet
What is best wallet...suggest me

If you want maximum convenience and as much security as you will realistically get from a web wallet, Blockchain.com is fine.

[JeromeTash]

To reduce your fees you should:
1.  Use a SegWit address (starting with bc1 or 3 rather than 1) to receive Bitcoin
2.  Send Bitcoin with a reduced number of inputs by accepting Bitcoin to the same address (this isn't recommended for your privacy but it's good for reducing fees)

1. Basically He should use a wallet that can generate SegWit addresses (Any that start with bc1 or 3). So that in future if he plans to spend the Bitcoin, the transaction script won't have as many bytes as one that has legacy address inputs (addresses that start with 1)
Electrum wallet should be a good choice

2. Wrong. Using the same Bitcoin address to receive Bitcoin payments does not reduce inputs. Once you decide to spend the bitcoins in the wallet, Number of unspent transaction outputs will be equal to the number of inputs for your new out going transaction

[joniboini]

2.  Send Bitcoin with a reduced number of inputs by accepting Bitcoin to the same address (this isn't recommended for your privacy but it's good for reducing fees)

2. Wrong. Using the same Bitcoin address to receive Bitcoin payments does not reduce inputs. Once you decide to spend the bitcoins in the wallet, Number of unspent transaction outputs will be equal to the number of inputs for your new out going transaction

He probably meant transaction consolidation. Just in case somebody doesn't know what this is about, you can read it on https://en.bitcoin.it/wiki/How_to_cheaply_consolidate_coins_to_reduce_miner_fees.

Atm, 40-60 sats/vbyte should be just enough if you want fast confirmation. Sunday is just around the corner and I expect the fees to go lower then.

[stomachgrowls]

Im always using mempool.space when i do make out some transaction to look on whats the current average fees to prevent myself getting stuck for a very long time.

I dont know if blockchain.info had already some dynamic fees yet its been couple of years i had turned my back into this wallet due to lots of issues and complaints about this custodial wallet.

Current fees atm.

Low priority
116 sat/vB ($8.34)

Medium priority
120 sat/vB ($8.62)

High priority
124 sat/vB ($8.91)

This is expected when network is clogged.
Current unconfirmed transactions
116,313 TXs

Fees would subside if these numbers would go low.

[JeromeTash]

I dont know if blockchain.info had already some dynamic fees yet its been couple of years i had turned my back into this wallet due to lots of issues and complaints about this custodial wallet.

They now do have an option where one can set custom fees under the custom option for advanced users, but I would still never use a wallet that still requires an email address to sign up and sign in.