Topic: Is this normal to other people or just me ? (Read 308 times)
its happening to everyone not just you alone. blockchain is not made to have preferences on your location, the current network situation at the time you are making your transaction will determine how much fee you will pay, so if you are ready to wait then you can pay lower by adjusting it which is why the preference fee wan brought so your transaction can be confirmed early.
i couldn't believe what am seeing.. idk why am thinking this is happening to Africans alone as i believe if its happening to USA/UK etc am sure the internet would have been burn by now.. this is just so wonderful i have to pay $39.09 miner fee to send just $1 to a btc wallet ?
Usual crybaby who thinks that the world is conspiring against a specific race, why would anyone think like that. I am also paying the exact same transaction charges like you and the network is not going to show any kind of racism 
. Stop finding ways to get offended and then play the victim card, if you do not want to pay the higher fees and if you want to send small amounts you just need to wait for a longer period for the coins held in your wallet.The transaction charges will come down by May first week once the difficulty level is adjusted and until then the network congestion will be there.
can someone please tell me whats going on ?
As an early comment said because you're using a web wallet even though it is a noncustodial wallet but AFAIK, almost all of them don't allow you to reduce the fee according to the mempool transaction fee size.I find it bad as almost all of the networks are congested since almost this week and I even don't have a chance to move my Bitcoin into the other wallet. I have heard a rumor that the consequences of China forced to stop mining due to energy issues has been a pain in the arse. Bitcoin on the other hand can't be used for microtransactions especially today. What I would suggest is, if you may find someone living overseas you may seek assistance from them to keep your assets to their non-custodian wallet that you can able to modify the fee, like for example Electrum. In that way, you can save a lot of headaches.
Or else alternatively, I think you must use altcoins for your transactions. In that way, you can still keep up and never ever use Bitcoin for transactions less than $100 which is definitely not recommended.
$ 39 for making a Bitcoin transaction is an unusually large fee bet. Maybe you should change your Bitcoin wallet. Currently withdrawing money at Binance is only 0.0005BTC (about 25 $). You should try resubmitting the transaction at a different time for a better fee as the transaction costs on the Bitcoin network are unstable due to different demands from time to time.
i couldn't believe what am seeing.. idk why am thinking this is happening to Africans alone as i believe if its happening to USA/UK etc am sure the internet would have been burn by now.. this is just so wonderful i have to pay $39.09 miner fee to send just $1 to a btc wallet ?
can someone please tell me whats going on ?
Lol it’s happening to everyone no matter where you are living around the world, the cost for Bitcoin transactions has been high, and it’s not only bitcoin, a lot of other cryptocurrencies have high fees for transactions too. I have friends in different countries, and when they make transaction with bitcoin they always have to pay these high fees, and most of them have started switching to other cryptocurrencies, such as Tron.can someone please tell me whats going on ?
Although I think the reason why the transaction fees of bitcoin is high like this is because there isn’t enough miners and there are too much users making transaction, and other coins are cheap because they don’t have much users yet.
Transaction fee is always fix, no matter how much you're gonna send to another address, unless you're using a segwit address. Mostly on exchanges, you'll pay 0.0005 BTC if I'm not mistake to withdraw your Bitcoin, the most cheaper coin you could find is XRP when it comes to transaction fee and a lightning network.
To answer your question, expensive transaction fee is normal, it's quantity won't change but its value would change because of its volatility, so in my opinion, if you're just gonna look on the quantity, not on dollars, you'll never worry about transaction fee unless the amout of money you're going to send out is much smaller than the transaction fee.
To answer your question, expensive transaction fee is normal, it's quantity won't change but its value would change because of its volatility, so in my opinion, if you're just gonna look on the quantity, not on dollars, you'll never worry about transaction fee unless the amout of money you're going to send out is much smaller than the transaction fee.
If you're using other wallets like online wallets, which most likely doesn't support segwit addresses then you'll surely be slapped by many fees.
I even recalled back in 2017 when I transferred just like $10 worth of Bitcoin then I was asked to pay $20 for the miners/network fee.
Quite insane, eh?
When I used segwit addresses, I only paid like almost cents. I am not sure how it all gets calculated, but that should be starter for ya, OP.
I even recalled back in 2017 when I transferred just like $10 worth of Bitcoin then I was asked to pay $20 for the miners/network fee.
Quite insane, eh?
When I used segwit addresses, I only paid like almost cents. I am not sure how it all gets calculated, but that should be starter for ya, OP.
<...>
I appreciate the correction. I continue to distrust blockchain.com wallet the more, I even thought the quote above will be genuine, after the article was written by them, they are lying. I believe it is noncustodial, but I do not fully believe again, what if they can be able to access the encrypted data? I believe if they are the one that encrypt it, they can also have malacious ways not known to others about the decryption. Although, they are the wallet that are fixated at the old standard, not even supporting segwit since it was implemented some years ago. 
So, I do not think they store private key or anything related on database, that is why the seed phrase or the wallet file is important/needed during recovery.
They have always stored the private keys in their database but only encrypted.Basically when you create a wallet, your keys are generated in your browser then they are encrypted in your browser then sent to their servers to be stored there. Each time you login you then fetch the encrypted keys, decrypt them in your browser and use them there.
This way they won't have access or control over your keys (hence non-custodial) but still you are storing the keys remotely in a server that could be hacked and maybe there could be some vulnerabilities in the way they encrypt the keys which could be exploited to steal your coins!
Like all above me said is true 
and i saw this back on 2017 when my transaction got stuck for almost 2 month just because hashnest.com give low fee to paid their member.
this moment especially happen when bitcoin touch new ATH and by that mean bitcoin is not good for daily transaction
and i saw this back on 2017 when my transaction got stuck for almost 2 month just because hashnest.com give low fee to paid their member.
this moment especially happen when bitcoin touch new ATH and by that mean bitcoin is not good for daily transaction
But with fees like that, the best thing is to wait for the mempool to empty.
You can check things here : https://bitcoinfees.earn.com/
(.....)
Another alternative for bitcoinfees.earn.com is https://coinb.in/#fees, where you can see the recommended transaction fees and you can use their fee calculator for given transaction size.
I think most of us agree. Bitcoin is currently not a coin to make minimal transactions. I stopped using bitcoin for payments since the bull run started. Instead I have been using ether but I will have to stop using it also for another less growing coin.
The behavior of bitcoin and all other coins is the same anywhere in the world in relation to the fees that its miners depend on.
The behavior of bitcoin and all other coins is the same anywhere in the world in relation to the fees that its miners depend on.
The blockchain network is pretty loaded right now, which means - if you want your transactions to be processed you gotta pay a lot. Also, it's not local, the transaction fees are equal everywhere, you do realize that your transaction can be processed by some miner thousands of miles away from you, right?
Though, $40 seems extremely high, even for times like now. Something tells me that you probably loaded your crypto wallet with many small deposits in the past, thus, increasing the weight of your transaction, which resulted in a higher fee rate.
In the future, use segwit, like many advised you here, and check the mempool if you don't want your transaction hung up.
Though, $40 seems extremely high, even for times like now. Something tells me that you probably loaded your crypto wallet with many small deposits in the past, thus, increasing the weight of your transaction, which resulted in a higher fee rate.
In the future, use segwit, like many advised you here, and check the mempool if you don't want your transaction hung up.
Instead of "regular" there might be a fast option (even more expensive) and a cheaper option. You can also customize the fee, usually you set it in sat/vbyte.
But with fees like that, the best thing is to wait for the mempool to empty.
You can check things here : https://bitcoinfees.earn.com/
Even with a low fee the transaction should go through eventually. But with BTC at high prices, a low fee is still around 1$, so not worth it to send a similar amount.
But with fees like that, the best thing is to wait for the mempool to empty.
You can check things here : https://bitcoinfees.earn.com/
Even with a low fee the transaction should go through eventually. But with BTC at high prices, a low fee is still around 1$, so not worth it to send a similar amount.
i have to be super honest here. i want to say a super thank you for all who replied. i so appreciate your kindness to spare some time out of your super busy work time to reply my worries with a very fair responds with better explanations that well calm my highly worried self. thanks a billion.
I don't get why someone would even think of sending $1 in bitcoin. Use altcoins if you want to send such small amounts. Bitcoin is not made for sending a few dollars and the price is only going to get higher in future.
If you used a desktop wallet with an ability to adjust fees manually like Electrum, you wouldn't be paying so much.
You can safely pay $10 in fees and have the transaction confirm within an hour.
If you used a desktop wallet with an ability to adjust fees manually like Electrum, you wouldn't be paying so much.
You can safely pay $10 in fees and have the transaction confirm within an hour.
I haven't ever had blockchain.com, but I guess that it keeps your private keys on their database. How's that non-custodian?
I too have not used the wallet before, I downloaded it just to know how the wallet was at the time, and I deleted it without using it. According to the claim by the article I have found out about the wallet which I am not sure if it is true:They have always stored the private keys in their database but only encrypted.
i couldn't believe what am seeing.. idk why am thinking this is happening to Africans alone as i believe if its happening to USA/UK etc am sure the internet would have been burn by now.. this is just so wonderful i have to pay $39.09 miner fee to send just $1 to a btc wallet ?
can someone please tell me whats going on ?
You arent the one who had that question in mind but if you had been on this market for a while then you wouldnt really get surprised by this.Network is currently clogged up and there's no can someone please tell me whats going on ?
other option but to wait up until it would go down.
Using up Blockchain which do make out some dynamic fees basing on network condition but there are options that you can alter it out based up on your preference but of
course it would really confirmed very soon based up on what you had inputted.
You arent the only one who's experiencing such hardship when it comes to fees but most people here in the market too.
Blockchain.com wallet is a noncustododial web wallet, but a wallet that require email is not a recommendable wallet
I haven't ever had blockchain.com, but I guess that it keeps your private keys on their database. How's that non-custodian?The mempool is so congested right now, but it is as a result of miners that are not mining in China due to blackout, if they still not yet continue to mine, the mining difficulty will still be adjusted, and the feerate will be reduced.
That's true. Unfortunately, difficulty re-adjusted on April 15th (block 679,392) and thus, we'll have to wait 'til block 681,408. At the moment it's 1,221 blocks away... - You're using an online wallet and not a non-custodian.
i couldn't believe what am seeing.. idk why am thinking this is happening to Africans alone as i believe if its happening to USA/UK etc am sure the internet would have been burn by now.. this is just so wonderful i have to pay $39.09 miner fee to send just $1 to a btc wallet ?
can someone please tell me whats going on ?
can someone please tell me whats going on ?
Many people want to transfer their bitcoin and the miners get to pick the transactions that get through - they generally select transactions with the higher fees.
If you only want to transfer $1 worth, you'll have to wait until the mempool is nearly empty - see April 10,11,12,13
You likely wont have to wait tooooo long. If you don't like waiting, you can use the lightning network - https://99bitcoins.com/bitcoin/lightning-network/wallets/ (caution - some wallets are custodial - not your keys = not your coins)
can someone please tell me whats going on ?
Basically, these:- You want your transaction to be included into a block while there are 260k waiting on the mempool right now.
- You're using an online wallet and not a non-custodian.
- You're not using segwit.
Bitcoin isn't a cryptocurrency to use it for micro-on-chain transactions. These days are gone. Hence the development of the lightning network.
There is no specific blockchain for Africa nor specific miners for Africa, there is only one blockchain and miners are all over the world mining and confirming transactions which is general and not specific to a particular country or continent. The mempool right now can include transactions with feerate over 200 sat/vbytes, this is unusual. This will soon be over approximately begining of next month when mining difficulty is adjusted, their would be reduction in feerate.
But, try to make use of segwit next time, you can use electrum wallet for that rather than using wallet that do not support segwit. Blockchain.com wallet supports only legacy, this will be responsible for more teasnation fee paid, if it is native segwit you want to use, 42% or more fee would be safed as segwit fee is lower by 42% or more.
Also, know that bitcoin transaction fee is not calculated using the amount you want to send, it is calculated based on weight. If you are sending $10 worth of bitcoin with 1 input and 2 outputs, and the fee is 0.00002 BTC, the same amount of fee will cost you if even sending $1000000 worth of bitcoin having 1 input and 2 outputs.
But, try to make use of segwit next time, you can use electrum wallet for that rather than using wallet that do not support segwit. Blockchain.com wallet supports only legacy, this will be responsible for more teasnation fee paid, if it is native segwit you want to use, 42% or more fee would be safed as segwit fee is lower by 42% or more.
Also, know that bitcoin transaction fee is not calculated using the amount you want to send, it is calculated based on weight. If you are sending $10 worth of bitcoin with 1 input and 2 outputs, and the fee is 0.00002 BTC, the same amount of fee will cost you if even sending $1000000 worth of bitcoin having 1 input and 2 outputs.
i couldn't believe what am seeing.. idk why am thinking this is happening to Africans alone as i believe if its happening to USA/UK etc am sure the internet would have been burn by now.. this is just so wonderful i have to pay $39.09 miner fee to send just $1 to a btc wallet ?
can someone please tell me whats going on ?
https://i.imgur.com/UXpsgez.png
can someone please tell me whats going on ?
https://i.imgur.com/UXpsgez.png
Jump to: