Does Bitcoin transaction fee grows based on how much you sending?

[macson]

I think the explanation about fees has already been explained very clearly by other users.

I just want to add one thing. I don't know what your goal is for sending Bitcoins back and forth from your wallet to the exchange, but if the goal is for accumulation and hold it in your self-custody wallet, its best to accumulate it first and then withdraw it to your wallet in one transaction once the amount is large enough to avoid being burdened by exchange withdrawal fees.

Whether its 0.0003 BTC or 0.3 BTC, the fee should be the same. So its better to accumulate it first and then withdraw, rather than doing it repeatedly in smaller amounts. But if your goal is just for experimentation, then you can skip it.

[Freeveto]

Guys I want to know something about Bitcoin wallet.

I've been able to transfer small amount of Bitcoin from the exchange to my wallet, back and forth and the fee is like 12 cent to 14 cents but I want to know what will happen if i move big amount.

To get what I am saying clearly, does Bitcoin transaction fee gets bigger when the Bitcoin you plan to move is also bigger or they stays the same?

I don’t think the amount of bitcoin you are sending will determine the transaction fee you will be charged for the transaction, it is not about taking percentage of what I am sending, from what I have read so far, it should be about network congestion. If there is no much transaction in the blockchain at that particular time, you will pay lower transaction fee for fast transaction, but if there is a lot of transactions, you will have to be patient if you don’t have enough to pay to facilitate your transaction faster.

[hosemary]

Because Bitcoin transaction fees is calculated with this formula

Code:

Transaction fee = transaction size * fee rate.

To be more accurate, transaction fee equals transaction virtual size multiplied by the fee rate.

The transaction fee is an incentive for a miner, but if there are huge transactions in the mempool, then the number of transactions the miners can fit inside the block, miners will tend to choose transactions with high fees.

Miners care about the fee rate, not the absolute fee.

The fee changes due to the current price of Bitcoin, and the reason you noticed that the cent have changed from lower to higher, is due to the price of Bitcoin has dropped...

Wrong.

If there is no much transaction in the blockchain at that particular time, you will pay lower transaction fee for fast transaction,

What you are talking about is called mempool, not blockchain. Only confirmed transactions are in the blockchain.

[BitMaxz]

I am also curious of the exchange because most of the exchanges I know of actually charges within the range of $3 to $6 currently and this is still because the bitcoin network fee rate is actually low at the moment

Honestly, this topic is very confusing since I could only achieve the 12 to 14 cents only from my Electrum wallet with a single inputs and output, but since this guy mentioned the exchange where he transferred a small amount to his wallet, it's weird that if it came from the exchange, I never heard an exchange ask for cent fees; usually, they ask for more than $1.

I think OP should clarify this thing because most of the responses on the first page are related to transaction fees, but even if he sends bitcoin, small or big, it's a fixed fee. No need to check mempool or calculate how much you will pay.

[EL MOHA]

Honestly, this topic is very confusing since I could only achieve the 12 to 14 cents only from my Electrum wallet with a single inputs and output, but since this guy mentioned the exchange where he transferred a small amount to his wallet, it's weird that if it came from the exchange, I never heard an exchange ask for cent fees; usually, they ask for more than $1.

At first I actually  read the OP post wrongly and actually thought that the OP mean that he actually was sending to exchange from wallet and I said that might be possible but when I saw your post and I re read the OP again with it been that the exchange is actually where the sending is from I begin to doubt, most probably OP might have made a mistake of where they bitcoin is coming from except if it is actually a decentralized exchange and even most is them do charge higher than using your own custodial wallet for sending. Although decentralized exchanges usually have lower charges than centralized ones but the less than 15 cents is actually really low for them too

[hosemary]

Honestly, this topic is very confusing since I could only achieve the 12 to 14 cents only from my Electrum wallet with a single inputs and output,

You can make a segwit transaction including 8 inputs and 2 outputs paying $0.14 worth of bitcoin as fee right now, and there will be a high probablity that you get confirmation in the next block.

it's weird that if it came from the exchange, I never heard an exchange ask for cent fees; usually, they ask for more than $1.

Maybe, OP withdrew some fake bitcoin on other blockchains instead of the real bitcoin.

[SilverCryptoBullet]

At first I actually  read the OP post wrongly and actually thought that the OP mean that he actually was sending to exchange from wallet and I said that might be possible but when I saw your post and I re read the OP again with it been that the exchange is actually where the sending is from I begin to doubt, most probably OP might have made a mistake of where they bitcoin is coming from except if it is actually a decentralized exchange and even most is them do charge higher than using your own custodial wallet for sending. Although decentralized exchanges usually have lower charges than centralized ones but the less than 15 cents is actually really low for them too

Centralized exchanges charge expensive withdrawal fees on users but they don't charge more withdrawal fees because users withdraw bigger funds. Big or small withdrawal, centralized exchanges at the same time apply same withdrawal fee on all users, and you will not pay more or less than the others because your withdrawal value is bigger or smaller than the other's withdrawal values.

With transaction fees for Bitcoin transactions from non custodial wallets, some news can help to see difference.

Someone paid $500,000 in transaction fees to move just $200 of bitcoin.
Bitcoin user overpays $3 million in fees for a single transaction.
An O.G. Bitcoin address holding 500 coins — worth $31.8 million, paying just 191 sats, or $0.12, in transaction fees.

[promise444c5]

Most people don’t just accumulate a big amount in just a single transaction (which equals one UTXO) so the fees always turn out to be more and feels like it related to the amount.

Centralized exchanges charge expensive withdrawal fees on users but they don't charge more withdrawal fees because users withdraw bigger funds. Big or small withdrawal, centralized exchanges at the same time apply same withdrawal fee on all users, and you will not pay more or less than the others because your withdrawal value is bigger or smaller than the other's withdrawal values.

You can’t be sure about that actually.. it’s always the particular CEX that knows how they run their stuffs. There are so many ways to withdraw Bitcoin at the same time from CEX but internal withdrawal by converting do not generally incite so much fees like external withdrawal.

Generally they are also factors affecting that, you can’t tell unless you’re part of the system or directly have access.. but I do notice that withdrawal could cost more based on amount but I can’t tell if theres a limit to which it stops increasing.

[bitmover]

Guys I want to know something about Bitcoin wallet.

I've been able to transfer small amount of Bitcoin from the exchange to my wallet, back and forth and the fee is like 12 cent to 14 cents but I want to know what will happen if i move big amount.

To get what I am saying clearly, does Bitcoin transaction fee gets bigger when the Bitcoin you plan to move is also bigger or they stays the same?

How much in equivalent $ you are sending does not affect transaction fees.

Because Bitcoin transaction fees is calculated with this formula

Code:

Transaction fee = transaction size * fee rate.

Fee rate is what you are freely to choose.
Transaction size does not depend on your transaction value (how much).

How to calculate transaction Size (vbytes) for Segwit Addresses.
https://jlopp.github.io/bitcoin-transaction-size-calculator/
https://bitcoinops.org/en/tools/calc-size/
You can try with this plot and understand more.
Plot your transaction in the mempool
https://bitcoindata.science/plot-your-transaction-in-mempool

Expanding this answer . What increases the transaction size (and the fees) is the address type of both input and output (segwit bc1.. are the cheapest), and how much inputs/outputs your transaction contains.

so the cheapest transaction would be bc1... to bc1, single input and single output.

[Bitcoin-Forever]

does Bitcoin transaction fee gets bigger when the Bitcoin you plan to move is also bigger or they stays the same?

Bitcoin transaction fee is not by the volume of the coins you are sending, but how congested the mempool is that determines the spirit you will be charged, this makes it essential that we should always check in the mempool to know if the transaction fee is low or high at a particular moment before performing our transaction, I also created a similar topic on this and you mean take your time to read and also see a transaction that cost less than $1 of about 500 Bitcoin https://bitcointalk.org/index.php?topic=5590627.msg67019956#msg67019956

[AgriTrack]

I'll keep it simple and short. The fees you pay depend mainly on the size of your transaction in virtual bytes and the fee rate you choose.. The number of inputs and outputs affects the transaction size. If your wallet needs to combine multiple UTXOs to make a payment, the transaction becomes larger in vBytes, which usually means a higher fee at the same fee rate.. Your wallet then estimates an appropriate fee rate based on how quickly you want the transaction confirmed and the current network conditions. Some wallets give you different fee options, while others also allow you to manually choose the fee rate.

Let me add to this post and explain how it basically works and how inputs can increase, causing the fees to increase as well.

So, when you receive some bitcoins in your wallet, for example, you received 0.01 bitcoins in a transaction just now, and now you want to send 0.005 bitcoins forward to another address, your transaction will only have 1 input, because the wallet will use the funds that you have received just now and it is enough for the transaction you are trying to make. However, if you are making a transaction that is larger than 0.01 you just received, and there are no other balance in you wallet that you received in a single transaction which is higher than the amount you are trying to send, then the wallet will use multiple inputs for the transaction, which increases the transactions size, and then the fees also increase.

I hope this explains it better.

[tbct_mt2]

However, if you are making a transaction that is larger than 0.01 you just received, and there are no other balance in you wallet that you received in a single transaction which is higher than the amount you are trying to send, then the wallet will use multiple inputs for the transaction, which increases the transactions size, and then the fees also increase.

You never can send more bitcoins than what you have totally in your wallet (you wrote "no other balance in your wallet"), and surely you can not broadcast that transaction and pay transaction fee. Wallet software will not allow you to do that, and the broadcast, send buttons will be hidden, not clickable.

You must change you transaction information so that you can broadcast it and sign it.

For example with Electrum wallet, if you already broadcast and sign a transaction with fee rate as 1 sat/vbyte but minutes or hours later, it has still yet been confirmed by miners, and you want to bump the fee. You can use Replace by fee by two options:

See Method.
Preserve payment: it means you still have bitcoin in your wallet paying that extra fee.
Decrease payment: it means you don't have any satoshis in your wallet, and to bump the fee, you must decrease the value of that transaction you send.

https://bitcoinelectrum.com/how-to-manually-set-transaction-fees/
https://bitcoinelectrum.com/frequently-asked-questions/#my-bitcoin-transaction-is-not-confirming-what-can-i-do

[Haunebu]

Won't over-complicate this. To put it simply, BTC transaction fee remains the absolute same no matter what you chose(auto or manual) though other factors like data size and network congestion matter. There are plenty of btc optimal fee sites out there.

Check them and decide your fee if you want to choose manually though auto is perfectly fine these days thanks to low network congestion. You could always accelerate the transactions easily if you chose an extremely low fee.

[Somegory]

It should be the same, I have never moved large amount of Bitcoin at once between two wallets before, the highest I moved was $3000 and the transaction fee was the same like when I move $40 to an exchange every week.

Even if there is going to be some difference I bet it won't be significant, I believe I read somewhere online about someone who moved millions in Bitcoin using cents amount of dollars, not even up to $0.50 for the fee.

I don't know if congestions is still a thing in crypto space, I believe this has impact on fee too, you will need to bump the normal fee up a little for your transaction to go through but things are a bit different today.

[alexcarter159]

The amount of Bitcoin you're sending isn't what directly determines the network fee. What matters more is the transaction size, which can depend on how many inputs and outputs are involved.

For example, sending a larger amount could sometimes cost the same as sending a smaller amount if both transactions have a similar size. Network congestion and the fee rate you choose will also affect how much you pay and how quickly the transaction confirms.

So it's better to think of Bitcoin fees in terms of transaction size and fee rate, rather than the dollar or BTC amount being sent.

[MusaMohamed]

The amount of Bitcoin you're sending isn't what directly determines the network fee. What matters more is the transaction size, which can depend on how many inputs and outputs are involved.

For example, sending a larger amount could sometimes cost the same as sending a smaller amount if both transactions have a similar size. Network congestion and the fee rate you choose will also affect how much you pay and how quickly the transaction confirms.

So it's better to think of Bitcoin fees in terms of transaction size and fee rate, rather than the dollar or BTC amount being sent.

You can use this Bitcoin fee calculator to understand it better, more easily and have examples too.
https://coinb.in/#fees

Fees depend on numbers of inputs, outputs of one transaction. Size of UTXO for inputs and outputs depends on address types like legacy, segwit, address from multisig wallet for example.

Bitcoin transaction fee does not depend on how much you sending.

Let's change the number of inputs, outputs and see transaction size change, then transaction fee change. Let's also try similarly but with address types.

[New Judgement]

Everything is just based on how fast or how desperate you want the transaction to be completed. Your choice will determine how much you will pay as fee. The wallet I use will always give you options like, fast, medium, slow. And each have different fee rates, fast has the highest fee to be paid, followed by medium and slow, irrespective of your bitcoin size.

[BluebloodCXVI]

The amount of Bitcoin that you want to send is not what determines the fee, it is the size of the transaction data that does.

So it is definitely possible for you to send a large amount of Bitcoin and still pay roughly the same low fee, as long as the transaction itself isn’t unusually complex.

[Charles-Tim]

And each have different fee rates, fast has the highest fee to be paid, followed by medium and slow, irrespective of your bitcoin size.

Do not depend on the wallet fee estimate algorithm, it may not be correct. For fast confirmation, I do not see Bluewallet to be corrected, it is always higher than usual.

But Bluewallet is a very good bitcoin wallet that I can recommend.

The amount of Bitcoin that you want to send is not what determines the fee, it is the size of the transaction data that does.

So it is definitely possible for you to send a large amount of Bitcoin and still pay roughly the same low fee, as long as the transaction itself isn’t unusually complex.

You are right, but not the size of the transaction. It is the transaction virtual size or virtual byte or weight.

[AgriTrack]

However, if you are making a transaction that is larger than 0.01 you just received, and there are no other balance in you wallet that you received in a single transaction which is higher than the amount you are trying to send, then the wallet will use multiple inputs for the transaction, which increases the transactions size, and then the fees also increase.

You never can send more bitcoins than what you have totally in your wallet (you wrote "no other balance in your wallet"), and surely you can not broadcast that transaction and pay transaction fee. Wallet software will not allow you to do that, and the broadcast, send buttons will be hidden, not clickable.

I never said that, I think you didn't properly read what I wrote, because I said that if you are trying to send a transaction larger than 0.01 BTC which you just received, and you haven't received any other transaction that is also above the amount in a single transaction, I didn't mean you have no balance, I meant that you haven't received more than 0.01 BTC or the amount you are trying to send, then the wallet will combine multiple inputs to complete the amount, and that increases the inputs and then the transaction fees will be higher.

I obviously know that it's not possible for one to send an amount that isn't available in their wallet, or even if they are trying to send 0.01 BTC and have just that amount, the wallet will not allow the transaction or will deduct the fees from that amount and then the sender will be able to broadcast the transaction. I was just trying to explain how the inputs in a transaction increase, maybe my wording wasn't clear, but I hope I have cleared it now. Sorry for making it a bit confusing.