What is the minimal transaction fee for 10$ usd or 1000$ usd?

[BitMaxz]

Bitcoin transaction are based on the number of outputs, not the value of those outputs. If I have a single output of 1 BTC, then to spend that I only need to pay for one output. If I have ten outputs of 0.0001 BTC, then to spend that I will need to pay for all ten outputs. It will be cheaper for me to spend one output of 1 BTC than it would be for me to spend ten outputs of 0.0001 BTC, even though those ten outputs of 0.0001 BTC are only worth a fraction of the one output of 1 BTC.

I agree with multiple outputs but I just want to add this based on the Bitcoin wiki the fee is not just calculated on the size of the output but also the inputs. Both of them shares the transaction size in total.

There are some calculators about this how to calculate the size of a transaction with a better explanation you can check the link below.

-  https://bitcoinops.org/en/tools/calc-size/

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[Haunebu]

These are the steps that I usually follow to get the most optimal price for my BTC transactions op.

- Go to Bitcoinfees.net
- Check the lowest fee possible where the TX time is reasonable
- Choose SegWit and input that particular fee

The mempool isn't really congested anymore these days thanks to all of that NFT crap disappearing which is why you will receive your transactions within minutes as long as you selected a reasonable fee.

[o_e_l_e_o]

I agree with multiple outputs but I just want to add this based on the Bitcoin wiki the fee is not just calculated on the size of the output but also the inputs.

It's clear from the context of my text you have quoted that I am talking about outputs here as in unspent outputs or UTXOs, and not as in inputs/outputs of an individual transaction.

[The Cryptovator]

Simplicity matters here. The amount you send doesn't count as much as your transaction's size does. Combining multiple addresses into one transaction could lead to higher fees compared to a single transaction. You can adjust fees, depending on your wallet. Too low a fee might delay your transaction significantly, while higher fees can speed it up. Remember, fees are influenced by various factors.

[Hanneswaser]

Wow, thanks to everyone! I really appreciate all your comments and insights!
I understand, that the answer to my question depends on the expected accuracy of the fee estimation.

So I also understood, that one single transation to one address can be looked up at https://bitcoinfees.net/ or https://mempool.space/

But many people say, that if the size of the transation is bigger, than it is more expensive.
Here, I understood that the transaction size depends on the amount of wallet addresses, which are part of the transaction (sending 5$ to one and 5$ to second wallet?)

So if I assume, that if I split the amount on two receiving wallets, the transaction sizes increases and the whole transaction will be more expensive.
Do we talk here  about twice as expensive or 30% more expensive?


Thanks again to everyone. The discussion really helped me to (finally) get a feeling about the transaciton background and the feese.

[hosseinimr93]

So if I assume, that if I split the amount on two receiving wallets, the transaction sizes increases and the whole transaction will be more expensive.
Do we talk here  about twice as expensive or 30% more expensive?

Right. The more inputs or outputs you have, the bigger transaction fee you have to pay.
Assuming your transaction is segwit and it includes 1 input and 1 output, its size would be around 110 vbyte. If you add one more output to your transaction, so that it includes 1 input and 2 outputs, its size would be around 142 vbyte. That's around 30% increase in transaction size and will lead to 30% increase in transaction fee.

You can use coinb.in fee calculator or bitcoindata.science (a tool created by the forum user, bitmover) to calculate transaction size and transaction fee based on number of inputs and outputs.  

[Hanneswaser]

So if I assume, that if I split the amount on two receiving wallets, the transaction sizes increases and the whole transaction will be more expensive.
Do we talk here  about twice as expensive or 30% more expensive?

Right. The more inputs or outputs you have, the bigger transaction fee you have to pay.
Assuming your transaction is segwit and it includes 1 input and 1 output, its size would be around 110 vbyte. If you add one more output to your transaction, so that it includes 1 input and 2 outputs, its size would be around 142 vbyte. That's around 30% increase in transaction size and will lead to 30% increase in transaction fee.

You can use coinb.in fee calculator or bitcoindata.science (a tool created by the forum user, bitmover) to calculate transaction size and transaction fee based on number of inputs and outputs.  

Awesome, thanks!

[adaseb]

This is a difficult question to answer because there are too many variables.

For example, to send $1000 you might have more inputs than a lower amount, the more inputs the more bytes required to send the transaction.

Also it matters what the current fee is. During a high time like New York session the fees are higher than during the weekend. Usually weekend fees are 50% less.

But if the fees are the same and the inputs are the same then it’ll cost the same to send $0.01 or $1,000,000.

[o_e_l_e_o]

Here, I understood that the transaction size depends on the amount of wallet addresses, which are part of the transaction (sending 5$ to one and 5$ to second wallet?)

It does not depend on the number of addresses, but the number of outputs. It does not matter if you are spending five outputs across five addresses or five outputs all on the same address - the transaction size, and therefore the necessary fee, will be identical.

As per my analogy earlier in this thread with physical cash, it does not matter if you take five physical coins out of your pocket, or if you take five physical coins from five different people. If you put these five coins in an envelope and send them through the mail, the price you pay for postage will be the same.

So if I assume, that if I split the amount on two receiving wallets, the transaction sizes increases and the whole transaction will be more expensive.

I've explained the size structure in this post. 1 inputs and 2 outputs will be 140 vbytes for a segwit transaction. Each additional input adds 68 vbytes, and each additional output adds 31 vbytes.

[franky1]

its not "just about outputs"
its about the entire transaction length

EG a TX can have one input(UTXO) one output(destination address) but 4mb of bloaty meme image in the witness and cost alot


though node software is able to understand 'sat per kb' meaning a ~250byte tx 'could' send using just a 1sat fee for the entire tx(due to rounding the min would be 1 sat) or a 4mb tx can be sent for just 4000sat.. however other issues implemented by core to push fee wars means the chances of a 1sat for entire 250byte tx or 4ksat for 4mb tx to get confirmed into a block is not possible on average of any standard useful regularity

there are other cludgy code things to manipulate fee's like what type of UTXO you are using. such as a legacy utxo is charged at upto 4x of a segwit utxo..