How do i know the right transaction fee?
Is there a way to minimize transaction fee?
What are the factors that can influence these transaction fees?
Where can i track the recent bitcoin transaction fees rate?
- To make it easier for you, almost all blockchain browsers offer the best average fee for the network. Personally, I use blockchair, which makes it easier for me in most cases, in addition to my Electrum wallet, which automatically adjusts fees in accordance with the state of the network.
- Currently, the best way to reduce fees is by using the Lightning Network. Using the Lightning Network requires a little bit of technical know-how but is very useful. In addition to this, it is possible to prefer the use of Segwit addresses to reduce the volume of the transaction and thus reduce the value of the fees imposed on it.
- Basically, the miners are the ones who mainly control the toll traffic on the network. Fees often go up when the network becomes overcrowded and miners prefer higher-fee transactions only.
- Same answer of the first question ; To make it easier for you, almost all blockchain browsers offer the best average fee for the network. Personally, I use blockchair, which makes it easier for me in most cases, in addition to my Electrum wallet, which automatically adjusts fees in accordance with the state of the network.
