What service to use to estiamate fees?

stompix

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Quote from: Mikcik on June 12, 2017, 02:47:33 AM

Hello, what service should i use to estimate the proper fee value of a BCT transaction (from an exchange like Bitstamp)?

(sending it to electrum wallet)

None.
You are no in control of the fees when a service is sending those bitcoin to you.
Also it doesn't matter what type of wallet you use to receive it.

I don;t know for sure but in the past bitstamp was paying the tx fee themselves and not charging you.
Also they bundle their transactions to avoid larger fees.

ranochigo

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You cannot control the amount of fees that the service choose to include in their transaction. The fees that the service include is in their control. You can only control the fees if the service specifically allows you to or if you control the private key. Both of this will not be available in an exchange.

If you were to have a low fee transaction being sent to you, you can spend the amount with a large fee and hope a miner picks it up and mines the whole chain of transactions to collect the fees. Else, its out of your control.

bitbunnny

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I like to relay on wallet that suggests the proper fees and where you can control them and decide on your own. Like Xapo. Or Mycellium. It's good to have to control so that you avoid situation that your transactions get stuck. Personaly I'd rather pay a little bit more higher fee and then be sure that the transaction will be delivered and confirmed and on time.

hatshepsut93

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You can usually find the rates in satoshis/byte here: https://bitcoinfees.21.co/
But this not always gives you full information, because you need to know the size of your transaction in bytes. So, you need to know that every input address adds 180 bytes and every output adds 34 bytes. Calculate the size of your transaction with this formula, multiply it by your chosen rate and you'll get the amount of your fee.

mocacinno

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HCP gave 2 of the best links... You can also use my fee estimator, it'll help you guestimating a fee that is appropriate for the transaction you're currently making, without having to know how to calculate transaction sizes Wink

http://www.mocacinno.com/page/feeestimate

HCP

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The "standard" that a lot of people use is: https://bitcoinfees.21.co/
Personally, I prefer: https://btc.com/stats/unconfirmed-tx

I like it because I think you get a clearer picture of where most of the transactions are sitting in terms of fee size... you can see on the right how many bytes there are at each level... and a running total of bytes... so you get a clearer picture of where the the 1,000,000 byte cutoff is for a block... I think it makes it easier to work out the best fee for next block confirmation.

Plus you can easily see that the large bulk of outstanding transactions are all currently near the 10-20 sat level... so even though there are some 20K unconfirmed transactions... using a fee of 100 sats/byte easily outbids most of them Tongue

Mikcik

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Hello, what service should i use to estimate the proper fee value of a BCT transaction (from an exchange like Bitstamp)?

(sending it to electrum wallet)

Topic: What service to use to estiamate fees? (Read 352 times)