https://cointelegraph.com/explained/transaction-fees-explained/amp
Transaction fees are fluctuate base on how busy a blockchain network is, and can also be flexible. A user who wants their payment to be confirmed urgently can choose to pay higher fee so miners are incentivized to put their transaction at the front of the queue. These charges are fixed on most crypto exchanges, but user may have the option to adjust fees when using certain wallets.
Topic: Is Bitcoin transaction fee fixed? (Read 363 times)
No but very less than compared to what banks are charging us nowadays.Transaction fees are included with your bitcoin transaction in order to have your transaction processed by a miner and confirmed by the Bitcoin network. The space available for transactions in a block is currently artificially limited to 1 MB in the Bitcoin network. This means that to get your transaction processed quickly you will have to outbid other users. More the fees,more quickly your transaction will be included in the block.
Transaction fees are currently getting more and more expensive, and our dream of being able to send bitcoins with cheap fees has disappeared, maybe because of the increasing volume of transactions so that the fees become more expensive, I got to know bitcoin in 2014, at that time there were many wallet providers such as coinbase and Xapo which does not charge a transaction fee.
it's fixed for some of specified transaction and it has the point to denote that this much of amount we transferred from this wallet to another wallet means the amount is fixed to this and it can be higher cost due to validation in fee that means incase some of the transaction done curse time is on at 2 to 5 hours of interval in between any transaction made the transaction fee will be high so transaction does not made with curse time
If I'm not mistaken, it depends more on the company with which you decide to work.
Bitcoin is not a company and miners are not the employee. 
Miners doesn't decide anything when it comes to fee because only the users who are creating the transaction can set any fee from 1sat/byte and mostly miners depends on the block rewards and if the network is clogged they will get extra bonus due to the people who will be willing to pay more for the fee.
When we are talking about the Bitcoin transaction fee:
I would recommend you to use wallet like samourai generally I use this wallet to coordinate my fee and see how long I wanna wait for my transaction to get confirmed. What you can do is, you can check how many sats they are taking and if you are getting underhyped about why it's taking forever then you also have general tool to increase your transaction fee. Therefore you can always boost your transaction fee!!
The fee is not fixed. You have the ability to choose from a wide variety of options but ofc the delay would be based on your part as well.
What do you mean ??
You mean the fee as decided by the miner ??
Seems a bit out of context tho.
Miners ofc can choose which transactions might be beneficial for them. Therefore they have the ability to choose their transaction fee.
I would recommend you to use wallet like samourai generally I use this wallet to coordinate my fee and see how long I wanna wait for my transaction to get confirmed. What you can do is, you can check how many sats they are taking and if you are getting underhyped about why it's taking forever then you also have general tool to increase your transaction fee. Therefore you can always boost your transaction fee!!
The fee is not fixed. You have the ability to choose from a wide variety of options but ofc the delay would be based on your part as well.
If I'm not mistaken, it depends more on the company with which you decide to work.
What do you mean ??
You mean the fee as decided by the miner ??
Seems a bit out of context tho.
Miners ofc can choose which transactions might be beneficial for them. Therefore they have the ability to choose their transaction fee.
As far as I know it's not fixed but there is Kryptova https://kryptova.biz which provide the lowest transaction free. You can check them out and also connect with them if you want.
Call now to book your demo at +44 0 800 - 832 ( 1373)
Alternatively, you can write at [email protected]
Call now to book your demo at +44 0 800 - 832 ( 1373)
Alternatively, you can write at [email protected]
-snip- but I think the transaction fee as of now is cheaper compared to other currencies like ETH.
Network fees on Ethereum (ETH) are currently very expensive. to send tokens alone requires around $60 for one transaction and this will of course change depending on the latest gas price.The BSC, Polygon, Solana platforms use very cheap fees and are still very worth it to do some swaps.
ETH went really crazy when it hit thousands of dollars.
If I'm not mistaken, it depends more on the company with which you decide to work.
After solving the arithmetic logarithm by the miners to choose who would carry out the transactions on the network. The transaction fee charged is it fixed, decided by fellow miners or can the sender edit the transaction fee below the current price charged or above it?
I'm just curious
I'm just curious
As far as I know, some wallets offer options whether it be a rushed transaction or a regular one, therefore giving us options to settle for a cheaper transaction fee and an expensive one if you prefer rushed, also, the wallet themselves or the exchange itself collects additional fees, I don't think the fee is fixed since the miner's fee and the exchange's fee adds up, but I think the transaction fee as of now is cheaper compared to other currencies like ETH.
Transaction fees are based on the data volume of a transaction and the congestion of the network. A block can contain a maximum of 4 MB of data, so there is a limit to how many transactions can be processed in one block. A larger transaction will take up more block data. Thus, larger transactions typically pay fees on a per-byte basis
If you are sending a transaction with the help of a Bitcoin wallet, the wallet will usually display an option for you to select your fee rate. This fee rate will be calculated in satoshis per unit of data your transaction will consume on the blockchain, abbreviated as sats/vByte. The total fee paid by your transaction will then be this rate multiplied by the size of your transaction.
If you wish to have your transaction confirmed immediately, your optimal fee rate may vary significantly. However, if you do not mind waiting, paying 2 sats/vByte will usually allow your transaction to be confirmed within a day or a week.
If you are sending a transaction with the help of a Bitcoin wallet, the wallet will usually display an option for you to select your fee rate. This fee rate will be calculated in satoshis per unit of data your transaction will consume on the blockchain, abbreviated as sats/vByte. The total fee paid by your transaction will then be this rate multiplied by the size of your transaction.
If you wish to have your transaction confirmed immediately, your optimal fee rate may vary significantly. However, if you do not mind waiting, paying 2 sats/vByte will usually allow your transaction to be confirmed within a day or a week.
After solving the arithmetic logarithm by the miners to choose who would carry out the transactions on the network. The transaction fee charged is it fixed, decided by fellow miners or can the sender edit the transaction fee below the current price charged or above it?
I'm just curious
I'm just curious
How long have you been here in the forum? Judging your current rank, you're supposed to know that basic information. After all, I bet you are lingering in different threads and posts related with bitcoin. In addition, you have the resources to search it on the internet with a few clicks like how you managed to post it here.
But to answer directly, no, the transaction fees are not fixed. The fee of each transaction varies depending on how many users are currently transacting (volume of users), the season of the market, and the speed of the transaction process. If you don't really need the fund urgently, you can opt to choose a transaction fee that is minimal. Just expect it to be a little delay of course, compared to the transaction that has a high fee. The network prioritizes the users who will pay more for faster transactions. Just remember not to set the transaction fee too low or else you might end up having trouble because of the slow process. There are also instances that the funds end up floating because of a very low transaction fee, so know when to be thrifty and when not to because it could cost you later.
After solving the arithmetic logarithm by the miners to choose who would carry out the transactions on the network. The transaction fee charged is it fixed, decided by fellow miners or can the sender edit the transaction fee below the current price charged or above it?
I'm just curious
A user can choose transaction fees on his own. It means that it doesn't depends on amount of Bitcoin that you transfer, everything depends on network congestion. When the activity is high, you need to pay more so that you transaction will be included in a chain. Otherwise you will have to wait too much or your transaction will just fail. I'm just curious
The fees are not fixed, of course, but this varies between exchanges and bitcoin wallets. The exchanges have fixed fees for transferring bitcoins, and they are often high and in some of them they are very high. As for the wallet fees, you can adjust the fees as desired if you want low fees, the time will take several additional hours, but if you want Speed up the transaction You have to increase the fees, the reason of course is that miners choose the transactions with the highest fees to execute first so the transactions with the low fees keep waiting for a long time.
Another case depended on your speed transaction, faster transactions mean higher fees could be paid.
This part is not accurate. Transaction speed depends on;
1. How quick a block is confirmed
2. The size of unconfirmed transaction in the mempool.
John could pay a very low fee, when the mempool is almost empty and within seconds a block containing his transaction gets confirmed, while at another time Bob would pay a very high fee but the next block that could contain his transaction takes 40 minutes to get confirmed.
Who of the 2 do you think will have achieved a faster transaction?
As the transaction fee of Bitcoin depends on transaction size and network volume, it will keep on fluctuating as per the change in network volume and size of the transaction.
There is no fixed bitcoin transaction but it also depends on which wallet that you have used, in custodial wallet which are higher fees than the non custodial wallet. The fees are always mattered on the mempool status and the fee depends if the network is not experiencing heavy traffic.Another case depended on your speed transaction, faster transactions mean higher fees could be paid. For lower fees, I suggest adopting a lightning network, this is good a multi send micro transactions.
No but very less than compared to what banks are charging us nowadays.Transaction fees are included with your bitcoin transaction in order to have your transaction processed by a miner and confirmed by the Bitcoin network. The space available for transactions in a block is currently artificially limited to 1 MB in the Bitcoin network. This means that to get your transaction processed quickly you will have to outbid other users. More the fees,more quickly your transaction will be included in the block.
As the transaction fee of Bitcoin depends on transaction size and network volume, it will keep on fluctuating as per the change in network volume and size of the transaction.
Fixed? No mate it depends what amount of transactions you have, but you can set it to higher if you want a fast transaction, if not you can set it to a lower fee but probably it takes hours or days. "For short bitcoin fees is depends on the speed of your transaction". And you know there's a chance as well that your transaction will be cancelled or stop if you exceed to the lowest value.. So remember to double check it always to don't waste your time waiting for your transaction to be confirmed by miners..
I should also add that since the last few years (IIRC 2017) there actually is a fixed floor fee which is 1 satoshi per byte. So this amount depends on the size of your transaction, in which I believe there is no new client anymore that allows you to send less than 1 satoshi per byte.
I was never lucky enough to send 0 byte (as I never knew before it was an option when I first used)
I was never lucky enough to send 0 byte (as I never knew before it was an option when I first used)
That will continue to change even on exchanges though, the first time I entered the cryptocurrency it was only about 10k satoshi up to 100k satoshi. And now with a different range. There may be $10 in bitcoin like kraken.
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