How to determine the right transaction fee?

[GazetaBitcoin]

Don't mistake my confirmation of a signed message for trusting them.

I don't I only referred to the confirmation of reserves.

[1715281501]

1715281501

[snipie]

I will talk about my experience with bitcoin transactions. First of all I use most of the time Electrum as a hot wallet for my transactions. Electrum have the possibility to adjust fees according to few factors including when you want your transaction to be confirmed, after how much blocks, and it shows you also an alert when you put an excessive fees.
Whenever I want to make a quick transaction and want the transaction to be confirmed in less than two blocks because I want to spend some cash then I will select highest fees. If it is not urgent to make the transaction then I will select a fee that will confirm my transaction in like 10 blocks or more.
Obviously there is many sites that show you the perfect transaction fees and so on. You can use them as suggested by other members or just keep it simple as I wrote but keep in mind that the simplest way came with a bit expensive fees

[stompix]

I am not in a hurry. So I won't need instant confirmation. I can wait 6 hours, 12 hours, or even 24 hours for the confirmation. Of course, I won't choose a value that would make the transaction stuck.

There is no such crystal globe!
Clear example:

Let's assume you woke up on the 13th , decided to make a tx at 10am, looked at the mempool and thought 45 sat/vb is 2 blocks away from the top it will for sure confirm in 4-8, maybe 12 hours. But the flow of transactions is hard to guess so now, your tx not only wouldn't have been confirmed but it would be sitting under 40 full blocks of unconfirmed transactions.

So what you're aiming for isn't really possible, you might get lucky but you might also get unlucky, and just as nobody can predict the price going up or down with accuracy nobody can predict how many incoming transactions and at what fees will be there in a 24 hours time span.



 

[DYING_S0UL]

Thank you everyone for all the suggestions, links you guys provided. I think they are sufficient enough to clear my confusion regarding transaction fees. I'll be locking this thread now.