transaction fees for transfer of the change to new receiving address

bob123

legendary

Activity: 1624

Merit: 2481

Quote from: joe1234 on September 20, 2018, 10:29:21 AM

- will Mycellium ask how much I am ready to pay (transaction-fees) for such (internal move of BTC
funds to a new address)?

Are you talking about a normal transaction or about the change of a transaction?

The change of a transaction simply just is an additional output. So an usual transaction has at least 1 Input and 2 Output (Receiver / Change).

Each transaction requires a fee (based on the size) to be included into a block. It doesn't matter whether you are sending the coins to an address owned by you, or someone else.
Noone except you knows that you are owning the receiving and sending address. A transaction between 2 of your addresses is a normal transaction for everyone in the network.

You will be able to choose the fee, just like with each other transaction inside mycelium.

BitMaxz

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Activity: 3374

Merit: 3095

BTC price road to $80k

Quote from: joe1234 on September 20, 2018, 10:29:21 AM

- will Mycellium ask how much I am ready to pay (transaction-fees) for such (internal move of BTC
funds to a new address)?

The transaction fee depends on transaction size sat./byte. If you are sending bitcoin to another bitcoin address in your HD wallet it will ask for a fee from low priority, Economic, normal and priority. Just choose priority to make your transaction faster and low priority if you are not in a hurry. Since you are just transferring your bitcoin into the same wallet the transaction fee doesn't matter.

joe1234

member

Activity: 82

Merit: 33

Hmm but I heard that many transaction were not "executed" during the time BTC was so expensive
( e.g. December 2017). (especially when the user was not ready to pay high transaction feeds)

- will Mycellium ask how much I am ready to pay (transaction-fees) for such (internal move of BTC
funds to a new address)?

Thank you!

Joe

TryNinja

legendary

Activity: 2758

Merit: 6830

Yes, it's an extra output, so it will increase the size of your transaction (increasing the fees).

But you must send the change somewhere. Either to a new change address, back to the same address of origin, or to a second receiver (the cost will be the same for all 3 options).

joe1234

member

Activity: 82

Merit: 33

Hello forum

to my understanding changes/receiving transactions are always transferred to a new receiving address in Mycelium (with HD-account).

Does that move cost me transaction fees?

Thank you!

Joe

Topic: transaction fees for transfer of the change to new receiving address (Read 147 times)