Transaction fee. - page 2. | Bitcointalksearch.org

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Quote from: Stepstowealth on March 13, 2023, 02:56:50 PM

how many sat/byte do you use for transactions?

Use the websites suggested by Charles-Tim above the check the mempool and get an estimate of the low, medium and high priority feerate.

Quote from: Stepstowealth on March 13, 2023, 02:56:50 PM

Do you increase and decrease it depending on how quickly you want the transaction to be processed or how big or small the transactions value is?

Yes, your feerate determines how fast your transaction gets confirmed.
The transaction value does not influence the fee paid to get it confirmed.

Quote from: Stepstowealth on March 13, 2023, 02:56:50 PM

Do you use a fixed amount for transactions?

No, that's not advisable.

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Quote from: Stepstowealth on March 13, 2023, 02:56:50 PM

Do you increase and decrease it depending on how quickly you want the transaction to be processed or how big or small the transactions value is? Do you use a fixed amount for transactions?

Quote from: Charles-Tim on March 13, 2023, 02:59:05 PM

You can always track the fee priority using a mempool site, like these:

https://mempool.space/

As mentioned by Charles-Tim, fees are always dynamic and you should always look at mempool.space to get the best fee.

It doesn't matter with it is a big value or small. Transaction size doesn't depend on the value

It depends on how many people are transferring at that time, as there is a limit amount of space for transactions in a block.

If you are not in hurry, you can use a lower fee than recommended for the next block

Charles-Tim

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Quote from: Quidat on March 13, 2023, 02:59:15 PM

For non-custodial wallets then you do have the option on making out adjustments on how fast the transaction would push and this is where it would be depending on how much sat/byte you could put on.

Some wallets can underestimate while some can overestimate, the best would be to check the fee rate using a good mempool site like the ones listed above.

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Quote from: Stepstowealth on March 13, 2023, 02:56:50 PM

How do you ensure that you are not paying too much for a transaction, Talking about transaction fees, how many sat/byte do you use for transactions? Do you increase and decrease it depending on how quickly you want the transaction to be processed or how big or small the transactions value is? Do you use a fixed amount for transactions?

For non-custodial wallets then you do have the option on making out adjustments on how fast the transaction would push and this is where it would be depending on how much sat/byte you could put on.
Example on Bitcoin, try to look on some sites for reference like mempool.space.You would be able to find out on which block would be processed out next basing up on the fees that been set out.
If you do have the plans on having the most priority then set out on whats currently the highest suggested so that the transaction you are doing would be processed out next.

Charles-Tim

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You can always track the fee priority using a mempool site, like these:

https://mempool.space/
https://jochen-hoenicke.de/queue/#BTC,24h,weight

If you use a full node wallet, like Bitcoin Core, you have access to your own mempool directly.

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How do you ensure that you are not paying too much for a transaction, Talking about transaction fees, how many sat/byte do you use for transactions? Do you increase and decrease it depending on how quickly you want the transaction to be processed or how big or small the transactions value is? Do you use a fixed amount for transactions?

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