A friend one mine bought Bitcoin -the person is a European- from her bank account using her credit card into a Bitcoin exchange but she got angry and threw tantrums about the charges that went to high of 40euros when what she bought was less than five hundred euros 500€. As a person using Bitcoin for her first time she may not do this again, I will want to know are fees different from some countries or is may be the exchange?
Depends if you're talking about transaction fees as in those for Bitcoin or those that are imposed by exchanges. When buying or selling from/to exchanges the fees are usually based on the amount, and what country you are in. Its worth noting that exchanges usually have very high fees compared to that of Bitcoin's "internal" optional fees. 
Topic: Fee is cheap while bitcoin rises to $29600. (Read 253 times)
Even before Segwit I didn't really see any major issues with Bitcoin fees for the general users. For specialized cases then I can understand that fees may have been on the heavy side, especially when sending micro transactions.
It has always been cheap in terms of satoshis since Segwit has been rolled out. People have been in constant complaint whenever they see the fee in USD, without even asking how much is it when we used sat/B. The fees only soars whenever there is an increased market activity all of a sudden, but if that activity was sustained and prolonged, the fee naturally evens out and goes back into its normal state. There’s nothing bad with transacting with bitcoin and the fees associated. It’s those nitpickers making a big deal over something we were used to.
A friend one mine bought Bitcoin -the person is a European- from her bank account using her credit card into a Bitcoin exchange but she got angry and threw tantrums about the charges that went to high of 40euros when what she bought was less than five hundred euros 500€. As a person using Bitcoin for her first time she may not do this again, I will want to know are fees different from some countries or is may be the exchange?
It is the exchange fees and bL4nkcode stretched that at the 2nd post. You should have given her some tips on how she could save some.
It will always be like that with exchanges and some even go way higher that you will think they are not allowing to withdraw your own Bitcoin.
OP, that's great news.
I have never made a transaction during the holidays but I am looking forward to these low tx fees to continue and bring more people in.
I was also wondering that the mempool wasn't that big as it was before.
Normally I check https://mempool.space/nl/ to see how big fee i need to use. I was shocked that it was still low.
Normally I check https://mempool.space/nl/ to see how big fee i need to use. I was shocked that it was still low.
The free rate at sats per vbyte is mostly dependent on the size of unconfirmed transactions in the mempool. The bigger the mempool size, except one to pay a high fee rate in order to have the transaction get confirmed in the next few blocks.
During times like this, the mempool size tends to reduce due to a low rate of incoming transactions into the Bitcoin network thus the low fee rate.
During times like this, the mempool size tends to reduce due to a low rate of incoming transactions into the Bitcoin network thus the low fee rate.
A friend one mine bought Bitcoin -the person is a European- from her bank account using her credit card into a Bitcoin exchange but she got angry and threw tantrums about the charges that went to high of 40euros when what she bought was less than five hundred euros 500€. As a person using Bitcoin for her first time she may not do this again, I will want to know are fees different from some countries or is may be the exchange?
There is a difference between transaction fees (what OP is referring to) vs. withdrawal and exchange fees.
Transactions fees (the cost to pay for a transaction to get confirmed) are relatively low.
The withdrawal fees are relatively high. This has multiple reasons. The first one is that the withdrawal fee does not only pay for the withdrawal transaction fee, but also for the consolidating transaction fee as well as the hot-/cold wallet topup/balancing fee.
Further that's one of the sources of income of exchanges and they are often overestimating the fee they have to pay to get a relatively fast confirmation.
Exchanges often don't even properly batch withdrawals and/or still don't use segwit which would reduce the fees.
While this definitely might shock people, they have to understand that this is the cost of using the exchange. Not the cost of using bitcoin.
Fee in satoshi is cheap and the holidays for Christmas and new year contribute to the low fee.
Fee in satoshi/bitcoin is always cheap ever since if you're just using your own wallet (not an exchange) and with segwit and ofc with lightning. Every time bitcoin price increase people are getting butt hurt that the price in usd, say its too expensive and say its not worth it sending smaller amount, that bitcoin transaction is only for whales/rich/etc.
Yes, fees in satoshi are meant to be cheep at this point because of various reasons and I won't put Christmas and new year as one of them reasons,
I actually know a little but the cheep fee is caused by little transaction in the blockchain , meaning that bitcoin is not being transacted at a high rate , people are holding their bitcoin and waiting for more pumps in the price, which in turn reduces the fee.
Unlike the eth blockchain it so compacted with transaction and increase the fee.
I actually know a little but the cheep fee is caused by little transaction in the blockchain , meaning that bitcoin is not being transacted at a high rate , people are holding their bitcoin and waiting for more pumps in the price, which in turn reduces the fee.
Unlike the eth blockchain it so compacted with transaction and increase the fee.
Fee in satoshi is cheap and the holidays for Christmas and new year contribute to the low fee.
Fee in satoshi/bitcoin is always cheap ever since if you're just using your own wallet (not an exchange) and with segwit and ofc with lightning. Every time bitcoin price increase people are getting butt hurt that the price in usd, say its too expensive and say its not worth it sending smaller amount, that bitcoin transaction is only for whales/rich/etc.
https://jochen-hoenicke.de/queue/#1,30d
Fee in satoshi is cheap and the holidays for Christmas and new year contribute to the low fee. In December, the trend of fee is cheaper as people have more belief in future rise of bitcoin and they don't see a price at one day is their last chance to sell bitcoin at all time high. They have more belief that bitcoin will hit its new all time high. There are sellers but people don't scramble for a price and ignore transaction fee.
I know the fee in USD is rising with same amount of satoshi for fee. Average transaction fee (USD) is lower than fee in 2 weeks from late October to early November: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m
Fee in satoshi is cheap and the holidays for Christmas and new year contribute to the low fee. In December, the trend of fee is cheaper as people have more belief in future rise of bitcoin and they don't see a price at one day is their last chance to sell bitcoin at all time high. They have more belief that bitcoin will hit its new all time high. There are sellers but people don't scramble for a price and ignore transaction fee.
I know the fee in USD is rising with same amount of satoshi for fee. Average transaction fee (USD) is lower than fee in 2 weeks from late October to early November: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m
Jump to: