Will the transaction fee will high if I send small amount under $50

[bitcoin talk]

Will the transaction fee will high if I send small amount under $50

[1714595890]

1714595890

[1714595890]

1714595890

[crwth]

It's good to note that it's not directly correlated with the transaction amount with how much you are going to pay in fees. Mostly it's about the congestion or how much TX's are being done. If there are people who are paying higher amounts to get their transactions confirmed, it will even be worse for you who would pay standard.

I believe that's mostly the case. Congestion and the fee demand or standard fees to get the transactions confirmed.

[hd49728]

Will the transaction fee will high if I send small amount under $50

Bitcoin transaction fee is calculated with this formula

Transaction fee (sat) = Transaction size (vbyte) * fee rate (sat/vbyte)

Transaction size will depend on some factors
- Inputs and Outputs. The more inputs and the more outputs, the bigger size.
- Transaction type. You can use Segwit address for less transaction size.
Why people should be using SegWit addresses

Fee rate will depends on network, miner capacity to confirm transaction and demand of Bitcoin users that cause Bitcoin mempools are clear or congested.
You can not control it and you only can choose a fee rate that is good for you.
https://mempool.space/
https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight
https://mempool.jhoenicke.de/#BTC,24h,weight

Bitcoin transaction fees - Everything in one

Bitcoin transaction fee does not depend on how big or small the value of your transaction. I mean you will have a same transaction fee for two transactions with same transaction type, same inputs, output numbers and same fee rate. Even transaction 1 has its value is $50 and transaction 2 has its value is $1M, transaction fee can be the same like $25. I think till this example, you get the answer.

[Davidvictorson]

Will the transaction fee will high if I send small amount under $50

The bitcoin network and network congestion doesn't care whether your transaction amount is $10 or $100. Whenever the network is congested and the fees for transaction is $42, that is what you will pay for the transaction amount. The network congestion is one of the factors responsible for a high transaction fee. The two ways to minimize the transaction fees are to wait for the times when there will be lower network congestion or use another cryptocurrency.

[Uruhara]

Will the transaction fee will high if I send small amount under $50

Actually, regarding fees, you can set them yourself. No matter how big or small the amount of btc that will be sent. However, if it's a small transaction like $50USD, I think you can still use a fee of around 19sats/vB even when the fee increase is currently occurring due to congestion on the Bitcoin network which has not yet subsided. Because with this number of transactions and with this fee, at least you can use the free accelerator service from ViaBTC.¹ I use it often and it works pretty quickly. But there are limits to the accelerator service per hour. that is, only 100 transactions will be accelerated. And currently, in just 1 minute, 100 transactions are always used on viaBTC. which indicates many are using it now.
But if you want your transaction to arrive quickly then of course using the recommended fee (the highest currently) is the best. But it will definitely be much larger than the total you sent.

----------
Reference:
1. https://www.viabtc.com/tools/txaccelerator

[Poker Player]

The best explanation has been given by hd49728 but I don't know if it is too technical for the little knowledge the OP has. Trying to simplify it, I would say that the fee does not depend on the quantity. Right now you need approximately a minimum of $10 fee to send a transaction that is likely to be confirmed, whether it is $50 or $50,000. The inputs are more important, i.e. it is not the same if you have received $50 (or $50,000) in a single transaction than if you have received 5 transactions of $10, which will increase the cost. The type of address you are using also affects.

[Bureau]

Transaction fee is not dependent on the amount you sent. It is depends on how fast you want the amount to credit (confirm)into the recipient wallet. If you want the amount to credit in 10 minutes you need to use high priority fee. If not then you can use low priority fee. To check the current fee you can visit mempool.space, it will give the average fee that is currently required for a transaction to confirm depending on the priority.

[Despairo]

It depends on address type you use, how many inputs in your wallet and how many output you want to send, but in general the current Bitcoin transaction is high, it's around $10 at this time.

So if you only send $11 it means the $10 will be paid for fee and the $1 will arrive to the destination address.

For an alternative, you can use altcoins e.g. BSC, Polygon etc.

[Upgrade00]

Will the transaction fee will high if I send small amount under $50

If you received the $50 in 25 seperate transactions of $2 each, the fees on the transaction will be higher than someone sending $100,000 which was received in a single transaction.

The network does not recognize dollar equivalent of bitcoins, only separate transactions which form inputs. The higher the number of inputs the larger the fee.

Whenever the network is congested and the fees for transaction is $42, that is what you will pay for the transaction amount. The network congestion is one of the factors responsible for a high transaction fee. The two ways to minimize the transaction fees are to wait for the times when there will be lower network congestion or use another cryptocurrency.

Fee is not an accurate way to explain this. There is no universal fee paid on transactions at any time, what miners set is the feerate.
This for example can be $10/vbyte (it's normally calculated in sats/vbyte). If my transaction has a bigger size (vbytes), then I'll pay higher.

[bluebit25]

I think the OP received a good response from @hd49728, and more intuitively, I want to share with you a practice that I myself used recently when I made a trade of about $60 equivalent which corresponds to BTC and also costs about $4 transaction fee, waiting time is less than 5 hours.

So I think you should also consider carefully whether you are willing to accept speed up and spending more fees. By the way, I think you should also pay attention to this tool if you regularly transaction BTC https://www.viabtc.com/tools/txaccelerator/

[adaseb]

Yeah the amount you send has nothing to do with the fee.

You can send a million dollars using 1 input and your fee could be $10

Or you can send $100 using 100 inputs and your fee would be like $500 or so.

Right now it doesn’t make sense to send small amounts. Try and use a different alt if you need to send someone small amounts. The fees will eat you alive.

[Samlucky O]

Will the transaction fee will high if I send small amount under $50

I don't think so. If it's on Dex like trust wallet it will charge you like $13 for transaction fee. But if you use multisig wallet like blue wallet or electron wallet you will need to set your transaction fee according to mempool conjection maybe like using.
Fast==>medium or low. The fast transaction required higher sat/vbite to accelerate your transaction for fast and quicker transaction. Just like someone paying higher fee on ATM que to be the first set of people to achieve their target. And it has maximum of 1hour to confirm the transaction in mempool.

While the medium requires lesser fee compeard to the fast and it poses as second to the first transaction. And it could take 3 hours to confirm it's transaction.
While slow transaction takes time for it to be confirm in mempool with a lower fee and it's take about 24hours to complete it's confirmation. And this transaction is best to use use accelerator to boost it's transaction.

[Charles-Tim]

Will the transaction fee will high if I send small amount under $50

hd49728 has given the correct answer. The fee paid is determined by

• The fee rate used, which is determined by how congested the mempool is. The higher the congestion, the higher the fee rate and the higher the fee that would be paid
• The number of inputs and outputs. As the inputs increase in a transaction, it makes the weight and virtual size of the transaction to increase. Also the output increases the transaction fee. The higher the output the higher the fee, but we can say increase in output still decrease the transaction fee because if you send to individual address one by one, the fee paid will be high than sending to many addresses at ones.
• The address type used. If you use segwit, the fee to be paid will be lower than while using legacy addresses.

[LoyceV]

Reference:
1. https://www.viabtc.com/tools/txaccelerator

Have you tried it recently? They changed to a new captcha not so long ago, after which the transaction accelerator was available most of the hour. It used to tell me I beat 95% of the users with the captcha. Now, it tells me I beat 8% of the captcha, and the accelerator is instantly unavailable. So I can only conclude bots fill it up. Maybe someone created a paid service that relies on ViaBTC.

[hd49728]

If you received the $50 in 25 seperate transactions of $2 each, the fees on the transaction will be higher than someone sending $100,000 which was received in a single transaction.

At current price of Bitcoin, $2 is bigger than a minimal amount of satoshi for dust attack that is a little bit more than $0.2 now.
What is meant by Bitcoin dust
Legacy: 546 satoshi
Native Segwit: 294 satoshi
Taproot: 330 satoshi

The total input numbers are used for one transaction (Sending) will increase its transaction size, that will increase it transaction fee.

https://bitcoinops.org/en/tools/calc-size/
With Legacy address, transaction type P2WPKH, you can see different in transaction size with same output number (1), and two different input numbers (1 and 25).

1 input: transaction size is 109.5 vbytes
25 inputs: transaction size is 1741.5 vbytes

The network does not recognize dollar equivalent of bitcoins, only separate transactions which form inputs. The higher the number of inputs the larger the fee.

It's true.

[aoluain]

Will the transaction fee will high if I send small amount under $50

Actually, regarding fees, you can set them yourself. No matter how big or small the amount of btc that will be sent. However, if it's a small transaction like $50USD, I think you can still use a fee of around 19sats/vB even when the fee increase is currently occurring due to congestion on the Bitcoin network which has not yet subsided. Because with this number of transactions and with this fee, at least you can use the free accelerator service from ViaBTC.¹ I use it often and it works pretty quickly. But there are limits to the accelerator service per hour. that is, only 100 transactions will be accelerated. And currently, in just 1 minute, 100 transactions are always used on viaBTC. which indicates many are using it now.
But if you want your transaction to arrive quickly then of course using the recommended fee (the highest currently) is the best. But it will definitely be much larger than the total you sent.

----------
Reference:
1. https://www.viabtc.com/tools/txaccelerator

Yes you can set the fees yourself if you are using a hardware wallet for example but your transaction
will not be prioritised, fine if its not an urgent transaction.

If you are using an exchange there probably isnt a option to set the transaction fees.

I did a check on coinbase just now, to sent $50 worth of Bitcoin is costing about $33, to sent $300, it
is costing the same!

The OP can check every so often to see when the most opportune time is to make the transaction, again
provided its not urgent you have to pick the best time.

[hugeblack]

https://mempool.space/ will launch a service speed up the confirmation of the transaction in exchange for withdrawing your money from your balance. In addition to RBF, all you need is to make sure that you have sent sufficient fees according to your situation, and if you change the mempool and you are in a hurry, you can use RBF, viabtc, or mempool in the future.
There are many options, but the most important thing is that you learn how to calculate your fees correctly, and this video may help you ----> https://www.youtube.com/watch?v=MPQMCVVhExY

[Gladitorcomeback]

Bitcoin transaction fee does not depend on how big or small the value of your transaction. I mean you will have a same transaction fee for two transactions with same transaction type, same inputs, output numbers and same fee rate. Even transaction 1 has its value is $50 and transaction 2 has its value is $1M, transaction fee can be the same like $25. I think till this example, you get the answer.

I also thinking same but practically when I use safepal wallet (not recommended) there is dramatically a fee difference for different btc value. When I click on maximum btc(57$) ,the fee shows 11.86$ and with same network fee when I want to send 50$ then I have to pay 15$ fee.

What do you think it is wallet issues or something I have not learned yet?

[hosseinimr93]

When I click on maximum btc(57$) ,the fee shows 11.86$ and with same network fee when I want to send 50$ then I have to pay 15$ fee.

hd49728 is correct. The transaction fee doesn't depend on the amount you send.

As already said, the transaction fee depends on number of inputs and outputs.

In the left image, you are sending the whole balance and your transaction would have 1 output.
In the right image, you are not sending the whole balance and your transaction would have 2 outputs. The extra output is created for receiving the change makes the transaction larger and causes the fee to be higher.

[jrrsparkles]

Reference:
1. https://www.viabtc.com/tools/txaccelerator

Have you tried it recently? They changed to a new captcha not so long ago, after which the transaction accelerator was available most of the hour. It used to tell me I beat 95% of the users with the captcha. Now, it tells me I beat 8% of the captcha, and the accelerator is instantly unavailable. So I can only conclude bots fill it up. Maybe someone created a paid service that relies on ViaBTC.

Possibly yes, but I did use the free TX accelerator today and the free slots were available for more than 20 minutes so I guess it depends on the time zones, the traffic varies.

Since the congestion lot of people using viabtc free accelerator resulting in more traffic than before and to answer the captcha, if I am not wrong I saw beat 94% of users while submitting earlier today.