Bitcoin transactions is so expensive

[Russlenat]

I'm using https://mempool.space/ to monitor the fee, and I also see an increase in transaction fees yesterday but $10 is too much. The highest fee I paid for my transaction was only $2, well, it's a big higher compared to the past few days or few weeks, but I still find it cheap especially if I'm transacting a decent amount of money.

[adzino]

Paying 10 USD in fees and your transaction not being included in the next 26 blocks? Are you sure you paid that much fee? The network isn't very congested right now. The fee shouldn't be that high. You are probably doing something wrong. The fees are very reasonable right now. Wait till you see how crazy the confirmation time and the fees become when the network goes under heavy load. If you are doing regular small transactions and you can't afford to pay up to a dollar, then try LN or switch to some other altcoins that have very low fees.

[milewilda]

BTC txs is so expensive again
9 sat/vB what is about 10 usd not will go in the next 26 blocks
Why does it's happens?
Brrrhhh

Current fees as of this writing.

Low priority
5 sat/vB
$0.38

Medium priority
5 sat/vB
$0.38

High priority
5 sat/vB
$0.38

https://mempool.space/

Dont know where you do get that 10 bucks you do say.Fees had been cheap for a while and its almost free and then
sudden price increase or rally in bitcoin did change a bit but not into the extent that it is expensive.

[pooya87]

whenever I want to transfer BTC from the exchange to my wallet, I always choose the XRP because it has lower transaction fees.

You are just saying random stuff because that is not even possible!
If you want to transfer "bitcoin" to your "wallet" you must use "bitcoin". If you use another coin like XRP you will end up with XRP in your wallet NOT bitcoin.

[electronicash]

high priority can go up to 13 sat/vB which is less than $1 but i can sometimes see it goes up to 25 sat/vB, most of these transactions are worth a lot too. obviously, it's still very low compared to sending ETH.

this is in the LN. low priority is 1satvb when the price of BTC reaches up to $100K, its the value in USD will rise but it's still going to be 1sat/vb. it'd be interesting if the mili sat will be added.

[guydin]

BTC txs is so expensive again
9 sat/vB what is about 10 usd not will go in the next 26 blocks
Why does it's happens?
Brrrhhh

Fees increase when the activity grows, so when there is a big activity on the crypto market, transaction fees are really high. Also as the price of Bitcoin rises, taxes cost more. When Bitcoin was 3-5 000$ commissions were much lower. There are two ways of how to cope with this problem. You can either switch to another cheaper chain (Tron, BSC) or you can pay less, but you will have to wait more time.

[Charles-Tim]

There are two ways of how to cope with this problem. You can either switch to another cheaper chain (Tron, BSC) or you can pay less, but you will have to wait more time.

Any other chains aside bitcoin blockchain are not actually used to store bitcoin, bitcoin is stored only on bitcoin blockchain, others are just tokens pegged with bitcoin. It will be best for the person to continue using the bitcoin wallet and making use of bitcoin on-chain for transactions. I will still prefer to make use of medium fee and while the medium fee of 5-10 sat/vbyte is not high at all.

[Kodok Bencot]

This is a serious problem for bitcoin users, to send bitcoins from some exchange sites charges around 0.0003 btc or around $16, of course this is a big transaction fee so i always switch to altcoins with cheaper fees even less than $1.

[cotton ball]

now the price of bitcoin is increasing, bitcoin is rising, of course there have been many requests for bitcoin, so by itself the internet has started to get nervous and the system is starting to get busy, maybe that's why bitcoin transactions are so expensive, that's according to my estimation, if wrong please correct me ..

[jakdanyel]

It looks like Bitcoin fees are also very changeable these days like Ethereum fees. The main reason of the increase in fees is the increase in the coin price. Bitcoin price has increased a lot lately and people started buying and making various transactions a lot these days. Not only the fees have increased but also the network slows down too as long as we don't use Lightning Network.