BlockChain.Com Wallet - Why transaction FEE Is very HIGH

[Vort3x.Layers]

Hi dear managers,
I have two wallets in BlockChain.Com web site.
When i want to transfer bitcoin from one of them situation is like this :
Money for transfer : $1000
Transaction Fee = Priority = $26
In another wallet situation is like this :
Money for transfer : $1000
Transaction Fee = Priority = $210
I am so confused!!!!!!!!!!!!!
Why does BlockChain.Com act like this?
How can i reduce second wallet's fee?

[1714124691]

1714124691

[NeuroticFish]

Hi dear managers,
I have two wallets in BlockChain.Com web site.
When i want to transfer bitcoin from one of them situation is like this :
Money for transfer : $1000
Transaction Fee = Priority = $26
In another wallet situation is like this :
Money for transfer : $1000
Transaction Fee = Priority = $210
I am so confused!!!!!!!!!!!!!
Why does BlockChain.Com act like this?
How can i reduce second wallet's fee?

I can try to help, but you provided far too few information.
First of all, blockchain.com is a private company and we are not their support. Also, although they do offer a web wallet solution, web wallets are not advised because they are inherently unsafe.

Now, about your problem.
The transaction fee depends on how busy the network is - that increases the fee/vByte your wallet will ask - and the size of your transaction.
From the info you provided I think that the second wallet has a lot of small inputs and that makes it big hence expensive (analogy: wallet 1 has banknotes, wallet 2 has a ton of small coins and you'll have to hire a truck/lorry to carry them)

How... if you work from desktop/laptop you'll probably have to import the wallet into a smarter one and make your transaction only from the bigger inputs.
And the smaller inputs you'll use/consolidate when the network fees are lower (weekends).

However, until we get here, you should validate that this is indeed the case (you indeed have big number of inputs in wallet 2)

[bitmover]

Blockchain.com has a poor fee estimator, which always overestimate fees. You can customize your fee and set it to lower value, however it may take long to confirm. I suggest that you use a minimum of 10 sat/vbyte

Customize your transaction fee (for advanced users only)
Custom transaction fees should only be set by users with an advanced understanding of transactions and bitcoin fees. Setting too low of a fee may cause your transaction to remain unconfirmed for days or weeks. Please customize your transaction fee at your own risk.

To specify a custom transaction fee, click Customize Fee in the bitcoin send screen and enter your chosen fee in sat/b.

https://support.blockchain.com/hc/en-us/articles/209283686-Sending-Bitcoin

Click in the customize fee button



https://medium.com/blockchain/improving-our-fee-recommendations-11722afccd6

Set a minimum of 10 here. It may take a few days to confirm.

https://www.alfa.cash/guides/how-to-set-miners-fee-bitcoin-transaction-popular-crypto-wallets-blockchaininfo-electrum

You can see recommended transaction fees here:
https://mempool.space/
https://bitcoindata.science/plot-your-transaction-in-mempool.html

[Vort3x.Layers]

Guys you are pro and you are the best.
Thanks...

[seoincorporation]

The fee is based in the transaction size, if that transaction has multiple inputs then the size will be bigger and you will need to pay more fees. For sure for your second transaction, you have multiple inputs and that would explain the $200 fees that blockchain wants. If you use lower fees than recommended then your transaction will get stuck and will take multiple blocks to confirm.

So, is important to learn about fees consolidation and wait for the right time to make your transaction. For this you should follow this thread https://bitcointalk.org/index.php?topic=2848987.0

[Vort3x.Layers]

Blockchain.com has a poor fee estimator, which always overestimate fees. You can customize your fee and set it to lower value, however it may take long to confirm. I suggest that you use a minimum of 10 sat/vbyte

Customize your transaction fee (for advanced users only)
Custom transaction fees should only be set by users with an advanced understanding of transactions and bitcoin fees. Setting too low of a fee may cause your transaction to remain unconfirmed for days or weeks. Please customize your transaction fee at your own risk.

To specify a custom transaction fee, click Customize Fee in the bitcoin send screen and enter your chosen fee in sat/b.

https://support.blockchain.com/hc/en-us/articles/209283686-Sending-Bitcoin

Click in the customize fee button



https://medium.com/blockchain/improving-our-fee-recommendations-11722afccd6

Set a minimum of 10 here. It may take a few days to confirm.

https://www.alfa.cash/guides/how-to-set-miners-fee-bitcoin-transaction-popular-crypto-wallets-blockchaininfo-electrum

You can see recommended transaction fees here:
https://mempool.space/
https://bitcoindata.science/plot-your-transaction-in-mempool.html

I did transfer 1000$ with 10 satoshi fee.
Now after one day it has n't been confirmed.
How many days should i wait?
Did i lose 1000$?

[dkbit98]

I did transfer 1000$ with 10 satoshi fee.
Now after one day it has n't been confirmed.
How many days should i wait?
Did i lose 1000$?

You didn't lose anything, I am expecting to see 10 satoshi fee probably during this weekend, and you can monitor it if you use mempool.space website
or with my open source browser extension all the time BTC Mempool Fees Extension/add-on for Firefox/Chrome browser.
I would suggest using Electrum wallet in future instead of Blockchain online wallet, and checking mempool before sending your bitcoin.

[Vort3x.Layers]

I did transfer 1000$ with 10 satoshi fee.
Now after one day it has n't been confirmed.
How many days should i wait?
Did i lose 1000$?

You didn't lose anything, I am expecting to see 10 satoshi fee probably during this weekend, and you can monitor it if you use mempool.space website
or with my open source browser extension all the time BTC Mempool Fees Extension/add-on for Firefox/Chrome browser.
I would suggest using Electrum wallet in future instead of Blockchain online wallet, and checking mempool before sending your bitcoin.

Here is my transaction link in this site :
TX LINK
What do you think?
Will it confirm after 3-4 days?

[dkbit98]

Here is my transaction link in your site :
TX LINK
What do you think?

Mempool.space is not my website, but my browser extension is using their API (plus two more alternatives), and I already told you what I think in my previous post.
Your transaction will probably be confirmed this weekend in Saturday or Sunday, so just chill.

[Vort3x.Layers]

Here is my transaction link in your site :
TX LINK
What do you think?

Mempool.space is not my website, but my browser extension is using their API (plus two more alternatives), and I already told you what I think in my previous post.
Your transaction will probably be confirmed this weekend in Saturday or Sunday, so just chill.

Thanks bro,
I am so happy that this forum is really active & pro people are here.

[The Sceptical Chymist]

You didn't lose anything, I am expecting to see 10 satoshi fee probably during this weekend

Man, I hope so.  The network seems very congested right now, and I'd sent a small amount of bitcoin a few days ago with a 4 sat/byte fee, and it's still unconfirmed.  Yesterday I sent some bitcoin with a much higher fee and it took around 18 hours to get the first confirmation.

I don't know if OP's problem is with the blockchain.com wallet or with the network in general, but I'm betting on the latter.  Sometimes it just gets like this, where it takes a super high fee just to get a reasonable confirmation time--and such times are usually when bitcoin's price is skyrocketing (like it is right now).  So just be patient, OP.  As dkbit98 said, you haven't lost anything and you won't.  At the very worst, the bitcoin you sent will end up back in your wallet--at least I think that can still happen.  I thought I'd read somewhere that transactions don't get returned anymore and that they just sit in the pool until confirmed, but either way you're not going to lose your bitcoin.

[Lucius]

Will it confirm after 3-4 days?

At the moment, your transaction is a little more than 19 MB from the top, which means that with this state of mempool you will most likely have to wait for the mempool to empty a bit for the weekend, and for transactions that pay 10 sat/vbyte to start being confirmed.

However, since you can't increase your fee (which is already high anyway), I'll speed up your transaction, so you can expect to get your first confirmation in the next 2-4 hours

[SFR10]

TX LINK

I'll speed up your transaction, so you can expect to get your first confirmation in the next 2-4 hours

I wasn't sure which of the free accelerators were used by you so just to be sure, I also accelerated Vort3x.Layers's TX using AntPool ^[screenshot].
<sup>- Will try doing the same with ViaBTC but it looks a tad shorter than their recommended fee [will update this post if I'm successful].

Vort3x.Layers: Don't bother looking around for other free accelerators; Most of them are either just broadcasting services or scammers fishing for tips.</sup>

I'd sent a small amount of bitcoin a few days ago with a 4 sat/byte fee, and it's still unconfirmed.

I'd suggest using AntPool's accelerator ^{[from the above link]}.
^{- You still have to deal with "AntPool's own backlog of accelerated unconfirmed transactions" but based on recent experiences, it'll get included somewhere between the first few blocks up to the first 20/30 blocks that they find [around a day].}

Update:
As expected, ViaBTC didn't accept your transaction ^[screenshot].

[khaled0111]

Thanks to this CPFP transaction, your transaction's effective fee rate became 16.6 sat/vbyte instead of 10 sat/vbyte.
According to https://jochen-hoenicke.de/queue/#BTC,2h,weight, your transaction is currently positioned at ~12 vMB from tip.

Note: The same applies to the second transaction. Although it's paying 99 sat/vbyte, the effective fee rate is actually 16.6 sat/vbyte and it will remain unconfirmed till the first transaction confirms.

[Vort3x.Layers]

Thanks to this CPFP transaction, your transaction's effective fee rate became 16.6 sat/vbyte instead of 10 sat/vbyte.
According to https://jochen-hoenicke.de/queue/#BTC,2h,weight, your transaction is currently positioned at ~12 vMB from tip.

Note: The same applies to the second transaction. Although it's paying 99 sat/vbyte, the effective fee rate is actually 16.6 sat/vbyte and it will remain unconfirmed till the first transaction confirms.

Thanks for the information my friend.
I also accelerate that transaction here :
bitaccelerate
How many days should i wait for confirms based on those information?
Are those accelerators effective on that?

[Lucius]

I wasn't sure which of the free accelerators were used by you so just to be sure...

I was convinced that Via would help in this case, but like you, I got the message that the fee is too low. There may be something from AntPool, but they don't seem to be as effective as ViaBTC, of course if the fee meets their criteria.

How many days should i wait for confirms based on those information?
Are those accelerators effective on that?

There is a good chance that your transaction will be confirmed this weekend - unfortunately you can't do anything else at this point except wait for everything to resolve itself. That accelerator you used isn't really that, it's a broadcasting service that doesn't speed up your transaction. The only effective accelerator that I can confirm has helped me many times is ViaBTC, but your fee is too low and therefore does not accept your transaction.

[Vort3x.Layers]

There is a good chance that your transaction will be confirmed this weekend - unfortunately you can't do anything else at this point except wait for everything to resolve itself. That accelerator you used isn't really that, it's a broadcasting service that doesn't speed up your transaction. The only effective accelerator that I can confirm has helped me many times is ViaBTC, but your fee is too low and therefore does not accept your transaction.

What do you think about paid service of ViaBTC Transaction Accelerator?
Does it work for me?

[stompix]

I was convinced that Via would help in this case, but like you, I got the message that the fee is too low.

It's because of the rounding up, if I'm not sure how long it will take and I want to keep the ViaBtc option available I use 11sat/b, in his case, the real fee is 9.966 that's why they are rejecting it, it happened to me in the past also, really frustrating.

What do you think about paid service of ViaBTC Transaction Accelerator?
Does it work for me?

The paid service will work but it's not worth it for small sums.
Your tx has an estimate of  $2123.41 right now, what would be the point.
Wait for the weekend, the mempool is not that congested right now, about the same size as last week and last Sunday it dropped to 5sat/b.

[stomachgrowls]

Average transaction fee: https://ycharts.com/indicators/bitcoin_average_transaction_fee
Fees are on the roof now and expected that your transactions would be stuck for long since you had set out very low fee and we know that miners
will always priority who pays up more fees.

About some accelerator discussion then i dont see for it to be worth.Just like on what stompix said above^.

The only option? You do just need to wait up until the network wont be clogged up and would be getting some confirmation soon on your tx.

[ultrloa]

There is a good chance that your transaction will be confirmed this weekend - unfortunately you can't do anything else at this point except wait for everything to resolve itself. That accelerator you used isn't really that, it's a broadcasting service that doesn't speed up your transaction. The only effective accelerator that I can confirm has helped me many times is ViaBTC, but your fee is too low and therefore does not accept your transaction.

What do you think about paid service of ViaBTC Transaction Accelerator?
Does it work for me?

The service provided by that accelerator  is good but not totally ideal since you will pay again just to make your transaction a little bit faster, If your not in a hurry better wait for it to get confirmed since it could save you a bucks, to avoid delays just follow the recommended fees although its quite annoying to pay huge fee this days still this is more better for those people who are in hurry to receive their funds.