Why are my sending fees so high? | Bitcointalksearch.org

Dingdong7

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Quote from: revv on November 12, 2017, 03:33:38 AM

I have a little bit of bitcoins on the online blockchain wallet and noticed the sending fees is 14$ no matter how much I am sending and seems to be rising everyday... what happens if I decide to customize the fee and put it at 10 sat/b for example?

How long would that take it to transfer?

Ive also experience transferring money with a high fee. I would suggest you to have a local app bitcoin wallet which allows you to transfer coin for free. Transferring coin from a platform to other kind of platform has really a big fee. This is one feature bitcoin has to develop, tgw transaction fee is high and tge transaction is also slow. Well, bitcoin is still on its development and we could expect this to be improve. By the way, transferring a coin with same kind of platform has really no fee.

JamesIV

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Bitcoin is limited. Besides, there are many Bitcoin transactions need to be executed. Therefore, the fee is so high

dhas

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Quote from: dali_masmoudi on November 12, 2017, 04:42:51 AM

The bitcoin amount is limited, it is not like any other currency (you can a lot from it that you even can't count). Also Miners of cryptocurrencies have to take fees for every transaction, like a commission for them.
That is why the Bitcoin fees are very high and the transaction can take around 24 hours or more so if you want to sell, try to sell earlier that the day you supposed to sell because it will take time.

I agree with you with you.
As far as I know the transaction fee was so high because the value of bitcoin is also high.
Aside from that it way of the owner to have a commission for every transaction you did.
It is the same as the tax added to our earning.
And it takes a lot time because of a long process in doing it to maintain the security for purpose of your bitcoin

icoDealDeckcom

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Quote from: alani123 on November 12, 2017, 04:45:21 AM

Bitcoin fees are based on demand. There's only a limited amount of space in each block and miners decide how they're going to prioritize transactions. Of course, transactions with the higher fees are given priority over other transactions so they're included in blocks faster. But as lower fees transactions mature they also have better chances of getting into a block.

Time to change the rules. P.O.S. Casper is coming.

cellat87

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Regular fee for a transaction is 14,5 USD which is really expensive and not everyone can afford that.
Even when you try to use a customized fee, blockchain.info informs you that the recommended fee is 500sat/b meaning 7$.
If you will use a lower fee your transaction probably will not get confirmed and it will join the list of more than 126k unconfirmed transaction.
I hope this situation will not last long or it will harm the crypto world.

Delarock

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I think the transaction fee depends on whom you send bitcoins. I have recently send bitcoins to this site because I was banned for doing something evil and I pay with small fee.

Webetcoins

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Quote from: 100%succes on November 14, 2017, 07:10:57 AM

Quote from: Mersterious on November 12, 2017, 04:41:58 AM

It is depend on a website or a developer

according to me If the forex delivery to exchange currency by sending abroad usually cost cheaper because banks have taken advantage of the currency conversion of friends.

Yeah it is true the bitcoin is the best help for thousands of the people and the bright side of the bitcoin is the currency that is being use by a lot of the people and the china and the other countries are here who are investing in the bitcoin, the part of the bitcoin is now getting down and the source of the bitcoin is now easy it is the just the buying and the holding of the bitcoin, I am sure the positive bitcoin is getting high and the best coin is the bitcoin.

100%succes

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Quote from: Mersterious on November 12, 2017, 04:41:58 AM

It is depend on a website or a developer

according to me If the forex delivery to exchange currency by sending abroad usually cost cheaper because banks have taken advantage of the currency conversion of friends.

Dastramus18

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That is normal the feeses are very high because exchanges want to make profit too and they can only make profit by increasing the fee if you send it to anyone that is why i only send when i want to send a lot in that way you can pay fee for a lot.

Rienair

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I have also noticed this. My fees were a lot of higher than when i was using it last year. It gained a lot of money in the price of the fees. It will go even up i think.

So its better to save all your coins first and wait for it get down.

alani123

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If you put fees to low, then your transaction would likely take forever to be picked up by a miner. It's how the fee market works sadly, and as long as there's too.much demand for Bitcoin transactions to be included in blocks fees just keep rising. With fees too low you'd be risking your transaction being stuck in limbo.

aizen10

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Quote from: revv on November 12, 2017, 03:33:38 AM

I have a little bit of bitcoins on the online blockchain wallet and noticed the sending fees is 14$ no matter how much I am sending and seems to be rising everyday... what happens if I decide to customize the fee and put it at 10 sat/b for example?

How long would that take it to transfer?

the more lower the fee the more time you spend to wait to arrive your bitcoin into another wallet, fees are the indicators if you want to transfer fast from one wallet to another , the more high fee the most fastest transaction you can made, the lower fee, it takes more than 6-8 hrs before its arrived.

eann014

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Quote from: revv on November 12, 2017, 03:33:38 AM

I have a little bit of bitcoins on the online blockchain wallet and noticed the sending fees is 14$ no matter how much I am sending and seems to be rising everyday... what happens if I decide to customize the fee and put it at 10 sat/b for example?

How long would that take it to transfer?

I think that is too expensive, where are you sending? On a remittance? Maybe depend on what remittances you are sending but if it is in another btc wallet I think that is really required but I am not using blockchain. I am using coins.ph here in our country this is the popular wallet and if someone will send to my wallet and he is also using coins.ph then there is no fee for it. If someone send some coins to me from coinbase to coins.ph there is also fee.

noictib

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Quote from: revv on November 12, 2017, 03:33:38 AM

I have a little bit of bitcoins on the online blockchain wallet and noticed the sending fees is 14$ no matter how much I am sending and seems to be rising everyday... what happens if I decide to customize the fee and put it at 10 sat/b for example?

How long would that take it to transfer?

Here transaction fee depends upon the numbers of the transaction going on per block with high priority , means to say that if the fee is high then we should consider that the people who are sending bitcoin with high fee are many than what the people with less fee .
And also with this another factor also works that is the numbers of input and output of the transaction .
If you will have bitcoin that is received by multiple people then surely you will needed to pay multiple times the fee than what for one input we need to pay .
Here I would like to recommend you to pay 0.0001 btc atleast for the transaction fee , otherwise you will face much problem for the transaction and that may get reverse ( chances are less ) .

Get-Paid.com

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Quote from: Taki on November 12, 2017, 07:08:38 PM

40% of bitcoiners use Blockchain.info wallet. Their fees are really high. My recommendation is to move on another wallet, like HashNest where the fee is 0,0002 BTC. Good luck!

Does this fee cover your transaction and doesn't get it stuck as "Unconfirmed" for several days?

maydna

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i think the fee is depend on how much amount that we want to send. if the amount is more than 0.1 and the fee is about more than $5, then i think its fine because depend on the money that you will receive, the fee is not too big. imagine if you want to cash out $1000 but you need to pay the fee for example $20, the money you received is still bigger than the fee and i think you can considering that you pay $20 is for charity because you still have the biggest amount of your money.

sheamus10

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I think if transaction we do large amounts of automatic fee will definitely up. so if for this problem it depends on the big size of the transaction we do, but if delivery bitcoin through the specific site usually for fee cheap enough.

Jendral Istimewa

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Quote from: no0dlepunk on November 12, 2017, 03:44:00 AM

Quote from: revv on November 12, 2017, 03:33:38 AM

I have a little bit of bitcoins on the online blockchain wallet and noticed the sending fees is 14$ no matter how much I am sending and seems to be rising everyday... what happens if I decide to customize the fee and put it at 10 sat/b for example?

How long would that take it to transfer?

Geeez, at least I am not alone. Yeah my transaction earlier had took forever and it costed me so much. I guess the majority of the miners are mining the wrong coin that's why only a few were processing your requests. My 0.5 BTC transfer took forever earlier, thank goodness I was able to cash it out before leaving my house.

Before traveling outdoors and exchanging your currency, you should first take note of these things, Checking Currency Value, Select a Licensed Money Changer.

Taki

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40% of bitcoiners use Blockchain.info wallet. Their fees are really high. My recommendation is to move on another wallet, like HashNest where the fee is 0,0002 BTC. Good luck!

specsmuluk

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I have experienced like you since last year, because you send so much so the effect for the shipment so it can high your shipping costs ...

Topic: Why are my sending fees so high? (Read 1523 times)