Fees are calculated in sat/byte which is actually a measurement of how much block space your transaction would occupy. And practically, the more fees you pay, the faster your transaction gets confirmed. To know the right feet to make use of, you can either make use of the mempool observer thread via the fee updates by fee buddy.
Also I recommend you check the mempool to understand the congestions first before choosing a fee to broadcast your transaction. I think it's one of the most efficient methods since you literally will be working with raw mempool data status.
Topic: How Much Fee is Too Low for Bitcoin Now? - page 2. (Read 343 times)
You can check mempool.space as the estimator, there are priorities there you can choose which one to use. Or you use jochen-hoenicke.de as another estimator.
You can also use coinb.in and input your details to get a fee
If you want to learn how to calculate the fees manually you can use follow this guide by Charles-Tim
Is sat/vb the same as sat/b? Atomic wallet uses sat/bite but what I see at Mempool is sat/vB.
Vbyte is the virtual byte while byte is the actual byte. The vbyte was introduced with the SegWit addresses and it is lower than the actual byte because it is equal to 4 unit weight. Transactions with vbytes are lower when calculated. The sat/vbyte is what actually matters when considering the transaction priority.
You can also use coinb.in and input your details to get a fee
If you want to learn how to calculate the fees manually you can use follow this guide by Charles-Tim
Legacy addresses starts from 1
Nested segwit starts from 3 (although not only nested segwit starts from 3)
Segwit version 0 starts from bc1q
Segwit version 1 starts from bc1p (pay-to-taproot)
This is the formula necessary for the calculation:
Formula:
For legacy address: vbyte= Input*148 + output*34 + 10 plus or minus input
For nested segwit: vbyte= Input*93 + output*32 + 10 plus or minus input
For segwit version 0: vbyte= Input*68 + output*31 + 10 plus or minus input
For pay-to-taproot: vbyte= Input*57.5 + output*43 + 10 plus or minus input
To know more about the input and output virtual size: https://bitcoinops.org/en/tools/calc-size/
To know more about the transaction virtual size: https://jlopp.github.io/bitcoin-transaction-size-calculator/
For mempool (beginners): https://mempool.space/
Mempool for advanced users: https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight
For example:
If you use the vbyte calculator or that formula above for 1 input and 2 outputs for native segwit addresses, you will get 110 vbyte as the virtual size of 1 input 2 outputs transaction.
To check the fee rate, click on the above second to the last, or last link.
Assuming the fee rate is 5 sat/vbyte.
Fee rate = fee ÷ vbyte
Fee = fee rate * vbyte
Fee = 5 * 110
Fee = 550 sat (0.0000055 BTC). I mean for 1 input and 2 outputs for segwit version 0.
Which means the higher the fee rate, the higher the fee. As mempool is becoming more congested, the fee rate will increase and the fee will increase.
Also if you understand ehat I explained above, you will noticed that as the input count is increasing, the fee will also increase.
Also as the output count is increasing, the fee is also increasing. But if you send to two different addresses separately, the fee would be more. So we can still say increase in the output will make the fee to decrease, despite that the fee is increasing, but lower than sending to each addresses separately.
From the virtual sizes, you can also know that you can save more in fee if you use segwit version 0 and pay-to-taproot addresses while legacy addresses have the highest fee.
Also you will know that pay-to-taproot will be good for consolidation, while segwit version 0 for paying to many addresses.
Nested segwit starts from 3 (although not only nested segwit starts from 3)
Segwit version 0 starts from bc1q
Segwit version 1 starts from bc1p (pay-to-taproot)
This is the formula necessary for the calculation:
Formula:
For legacy address: vbyte= Input*148 + output*34 + 10 plus or minus input
For nested segwit: vbyte= Input*93 + output*32 + 10 plus or minus input
For segwit version 0: vbyte= Input*68 + output*31 + 10 plus or minus input
For pay-to-taproot: vbyte= Input*57.5 + output*43 + 10 plus or minus input
To know more about the input and output virtual size: https://bitcoinops.org/en/tools/calc-size/
To know more about the transaction virtual size: https://jlopp.github.io/bitcoin-transaction-size-calculator/
For mempool (beginners): https://mempool.space/
Mempool for advanced users: https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight
For example:
If you use the vbyte calculator or that formula above for 1 input and 2 outputs for native segwit addresses, you will get 110 vbyte as the virtual size of 1 input 2 outputs transaction.
To check the fee rate, click on the above second to the last, or last link.
Assuming the fee rate is 5 sat/vbyte.
Fee rate = fee ÷ vbyte
Fee = fee rate * vbyte
Fee = 5 * 110
Fee = 550 sat (0.0000055 BTC). I mean for 1 input and 2 outputs for segwit version 0.
Which means the higher the fee rate, the higher the fee. As mempool is becoming more congested, the fee rate will increase and the fee will increase.
Also if you understand ehat I explained above, you will noticed that as the input count is increasing, the fee will also increase.
Also as the output count is increasing, the fee is also increasing. But if you send to two different addresses separately, the fee would be more. So we can still say increase in the output will make the fee to decrease, despite that the fee is increasing, but lower than sending to each addresses separately.
From the virtual sizes, you can also know that you can save more in fee if you use segwit version 0 and pay-to-taproot addresses while legacy addresses have the highest fee.
Also you will know that pay-to-taproot will be good for consolidation, while segwit version 0 for paying to many addresses.
Is sat/vb the same as sat/b? Atomic wallet uses sat/bite but what I see at Mempool is sat/vB.
Vbyte is the virtual byte while byte is the actual byte. The vbyte was introduced with the SegWit addresses and it is lower than the actual byte because it is equal to 4 unit weight. Transactions with vbytes are lower when calculated. The sat/vbyte is what actually matters when considering the transaction priority.
You should probably stop using Atomic wallet. They're simply not to be trusted anymore.
As for your question, then you should use mempool.space as a reference next time (assuming the wallet you're using does not estimate the fees accurately. Electrum does a good job at that).
As for your question, then you should use mempool.space as a reference next time (assuming the wallet you're using does not estimate the fees accurately. Electrum does a good job at that).
Is sat/vb the same as sat/b? Atomic wallet uses sat/bite but what I see at Mempool is sat/vB.
You should probably stop using Atomic wallet. They're simply not to be trusted anymore.
As for your question, then you should use mempool.space as a reference next time (assuming the wallet you're using does not estimate the fees accurately. Electrum does a good job at that).
As for your question, then you should use mempool.space as a reference next time (assuming the wallet you're using does not estimate the fees accurately. Electrum does a good job at that).
How do I calculate it? I had a btc tx that confirmed after more than a week. I intend to send another from Atomic wallet to Electrum but want to lower the fee. How much sats is too low?
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