How I can check the fee for now ? | Bitcointalksearch.org

squatter

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STOP SNITCHIN'

Quote from: McIyoke on September 17, 2018, 05:30:59 PM

Quote from: squatter on September 17, 2018, 02:15:04 PM

Quote from: McIyoke on September 17, 2018, 12:19:53 PM

How I can check the fee for now ? I can't understand how fees work. Is there a website where I can type the the amount of BTC transaction and I how much will be the fee.
I found one website but there it types - it doesn't matter how many BTC you send you will get same fee. And there types that now fee for a transaction is 0.6$. It is really so low ? I don't really trust the fee can be so low
Is there a website where I can write amount of BTC I want to send and it check the fee in real time?

Bitcoin transaction fees are based on transaction size, not amount. We measure fees in "satoshis per byte" -- a satoshi = 0.00000001 BTC. Users compete for block space -- higher fee transactions get confirmed faster than low fee transactions.

This is the tool I use to check network fees. It shows how many transactions are waiting to be confirmed at various fee rates. Right now, 2-3 satoshis/byte will probably get confirmed in the next block. Earlier in the day, you needed closer to 7 satoshis/byte for the same confirmation speed.

How I can know how many bytes my transaction have? It's just send btc from one wallet to another

Any good wallet will allow you to manually set the fee rate without worrying about the size. For beginners, I suggest Electrum. It has a slider that allows you to choose based on how urgent your transaction is. For increased precision, I manually enter the fee -- I prefer to pay very low fees and wait for confirmation -- and then I click "Preview transaction" to confirm it has the correct satoshi/byte rate.

Quote from: McIyoke on September 17, 2018, 05:30:59 PM

Quote from: squatter on September 17, 2018, 02:15:04 PM

It shows how many transactions are waiting to be confirmed at various fee rates. Right now, 2-3 satoshis/byte will probably get confirmed in the next block. Earlier in the day, you needed closer to 7 satoshis/byte for the same confirmation speed.

How do you know it's need 2-3satoshis/byte

Each block will vary regarding how many transactions it includes, based on how many transactions are waiting in the mempool and how large they are. On average, it tends towards ~2000 or so transactions per block. So if I see, say, 1500 transactions pending at 2 satoshis/byte or below, I generally assume 2 satoshis/byte is adequate to get confirmed in the next block, though occasionally it can take a bit longer.

mocacinno

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Quote from: KonstantinosM on September 17, 2018, 06:18:34 PM

--snip--

The fee is completely optional, so if you can wait for a long time, you can put in a smaller than average fee and wait until it's picked up. If it isn't picked up in a day, you can actually increase the fee.

--snip--

Altough i agree with most of your post, i did want to add some remarks to this last part:

Eventough you can create a transaction without a fee (a 0 fee transaction), it's getting really (really, really) hard to get these transactions broadcasted... And even if you're able to broadcast them, it doesn't end up in the mempool of many mining nodes, so even if you succeed in broadcasting, the odds of your transaction ending up in a block are really small... So in reality, i wouldn't call the fee optional...
You can increase the fee after broadcasting, but the only easy way to do this is if you created an opt-in RBF transaction to begin with. AFAIK, not all wallets opt-in RBF by default... If you didn't opt-in RBF, you can still wait a couple of days untill the unconfirmed tx dropped from the mempool of most nodes, then create a new transaction using the same unspent outputs as input (but with a higher fee), or you can do a CPFP... Also, on a technical level, you're not really increasing the fee... You're creating a new transaction with a higher fee... this is even the case when you bump the fee of an opt-in rbf tx.

Kimahrironso

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In the past, fees have been different from today. You can send a free transaction if your transaction is small or if it is "preferred". However, now everything has changed and every transaction is required to pay a fee if it wants to be confirmed. Charges are measured in Satoshi per byte. Think of taking Satoshi (the smallest unit of the Bitcoin account), multiplying by the number of bytes (unit size). At any time you can also check the estimates for your transaction fees in the next block. This rate varies depending on whether the network has many transactions. But transaction size depends on a number of different factors, the most important factors are: Number of inputs, Number of outputs, Scenario is more complex when some transactions use special features like multisig. These features increase the size of the transaction.
There are several ways you can avoid paying a high fee:
Avoid sending transactions when the network is crowded, Use a wallet that supports SegWit, Gather input, Gather the output.

Thirdspace

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Quote from: McIyoke on September 17, 2018, 05:30:59 PM

How I can know how many bytes my transaction have? It's just send btc from one wallet to another
~
How do you know it's need 2-3satoshis/byte

maybe this page https://coinb.in/#fees is more informative and easy to use for you
but you need to understand a basic knowledge on different types of bitcoin addresses
it gives you recommended fee with minimum feerate, you could use a bit higher rate if you want

jeremypwr

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This is the great site to check transaction fees: https://btc.com/stats/unconfirmed-tx

KonstantinosM

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A lot of the wallets will give you an estimate before you send the transaction and will allow you to change the fee.

A good amount of bytes for simple transactions is around 225.
If you have a lot of small UTXOs (unspent transaction outputs) you may have to draw from more than one at a time, increasing your transaction size.

So if your transaction was 500 bytes, and you included a 3 satoshi per byte fee, your total fee would be 1500 satoshis. One satoshi is 100000000th of a bitcoin. Or 1500 satoshis are 0.00001500 BTC that is about $0.10 (at the time of writing)

Your wallet will have built in estimation and will probably allow you to set this yourself. You could experiment by sending funds to yourself to find out how it works (You could do that on the testnet with test bitcoin)

The fee is completely optional, so if you can wait for a long time, you can put in a smaller than average fee and wait until it's picked up. If it isn't picked up in a day, you can actually increase the fee.

It's important to realize that if your transaction never goes through, you still have the bitcoin.

McIyoke

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Quote from: squatter on September 17, 2018, 02:15:04 PM

Quote from: McIyoke on September 17, 2018, 12:19:53 PM

How I can check the fee for now ? I can't understand how fees work. Is there a website where I can type the the amount of BTC transaction and I how much will be the fee.
I found one website but there it types - it doesn't matter how many BTC you send you will get same fee. And there types that now fee for a transaction is 0.6$. It is really so low ? I don't really trust the fee can be so low
Is there a website where I can write amount of BTC I want to send and it check the fee in real time?

Bitcoin transaction fees are based on transaction size, not amount. We measure fees in "satoshis per byte" -- a satoshi = 0.00000001 BTC. Users compete for block space -- higher fee transactions get confirmed faster than low fee transactions.

This is the tool I use to check network fees. It shows how many transactions are waiting to be confirmed at various fee rates. Right now, 2-3 satoshis/byte will probably get confirmed in the next block. Earlier in the day, you needed closer to 7 satoshis/byte for the same confirmation speed.

How I can know how many bytes my transaction have? It's just send btc from one wallet to another

Quote from: squatter on September 17, 2018, 02:15:04 PM

It shows how many transactions are waiting to be confirmed at various fee rates. Right now, 2-3 satoshis/byte will probably get confirmed in the next block. Earlier in the day, you needed closer to 7 satoshis/byte for the same confirmation speed.

How do you know it's need 2-3satoshis/byte

kwabeedat

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and also it sometimes depends on where you're sending your money from. Some portals have fixed fees whereas others give you the chance to select the fee you want. What I've observed is that it's commonly 0.001BTC/ 0.0005BTC (that's for exchangers) and you can find the amount in dollars by multiplying by the current price of BTC

zoaaacosta

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Quote from: squatter on September 17, 2018, 02:15:04 PM

Quote from: McIyoke on September 17, 2018, 12:19:53 PM

How I can check the fee for now ? I can't understand how fees work. Is there a website where I can type the the amount of BTC transaction and I how much will be the fee.
I found one website but there it types - it doesn't matter how many BTC you send you will get same fee. And there types that now fee for a transaction is 0.6$. It is really so low ? I don't really trust the fee can be so low
Is there a website where I can write amount of BTC I want to send and it check the fee in real time?

Bitcoin transaction fees are based on transaction size, not amount. We measure fees in "satoshis per byte" -- a satoshi = 0.00000001 BTC. Users compete for block space -- higher fee transactions get confirmed faster than low fee transactions.

This is the tool I use to check network fees. It shows how many transactions are waiting to be confirmed at various fee rates. Right now, 2-3 satoshis/byte will probably get confirmed in the next block. Earlier in the day, you needed closer to 7 satoshis/byte for the same confirmation speed.

Thanks for sharing. I think I can use this tool for my future transactions. I am always basing the fees of my transactions on the default fees in the certain exchanges or btc platforms, now I have a closer idea how these fees works.

squatter

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Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: McIyoke on September 17, 2018, 12:19:53 PM

How I can check the fee for now ? I can't understand how fees work. Is there a website where I can type the the amount of BTC transaction and I how much will be the fee.
I found one website but there it types - it doesn't matter how many BTC you send you will get same fee. And there types that now fee for a transaction is 0.6$. It is really so low ? I don't really trust the fee can be so low
Is there a website where I can write amount of BTC I want to send and it check the fee in real time?

Bitcoin transaction fees are based on transaction size, not amount. We measure fees in "satoshis per byte" -- a satoshi = 0.00000001 BTC. Users compete for block space -- higher fee transactions get confirmed faster than low fee transactions.

This is the tool I use to check network fees. It shows how many transactions are waiting to be confirmed at various fee rates. Right now, 2-3 satoshis/byte will probably get confirmed in the next block. Earlier in the day, you needed closer to 7 satoshis/byte for the same confirmation speed.

McIyoke

newbie

Activity: 7

Merit: 0

How I can check the fee for now ? I can't understand how fees work. Is there a website where I can type the the amount of BTC transaction and I how much will be the fee.
I found one website but there it types - it doesn't matter how many BTC you send you will get same fee. And there types that now fee for a transaction is 0.6$. It is really so low ? I don't really trust the fee can be so low
Is there a website where I can write amount of BTC I want to send and it check the fee in real time?

Topic: How I can check the fee for now ? (Read 198 times)