Bitcoin transaction fee too high


bitcoin transaction fee too high

cryptocurrency that split off from Bitcoin on August. And when there's too many transactions to processwhich currently happens very oftenminers will prioritize transactions that pay a higher fee. If you're moving bitcoins from an exchange and not a wallet, you likely won't be able to set a fee, and many exchanges have very high fees set. That's how much it'd cost me to send.01 bitcoins, or about 42, from one Bitcoin address to another right now. We hate spam as much as you. And for reasons explained here, sometimes it's more profitable to mine Bitcoin Cash than Bitcoin. The good news is that the fees are likely to get better.

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For example, a mobile Bitcoin wallet called. If you enable the "Coins" tab in the desktop version of Electrum you can minimize the number of inputs for your transaction, which will make it cheaper. To sum up: Bitcoin fees are currently very expensive, but this will likely get better in a few months. One email a day for 7 days, short and educational, guaranteed. All Discussions Steam Forums Suggestions / Ideas Topic Details, reason. And cheap transactions, especially for small amounts of BTC, are supposedly one of Bitcoin's biggest advantages. This information won't help you much if you use a wallet that doesn't let you change transaction fees, so maybe it's time to switch to a different wallet. Luckily, Bitcoin users aren't completely without options right now. The transaction fees are raging due to several factors. This will reduce strain on the network and make transaction fees lower, but switching to SegWit2x requires a so-called hard fork, meaning that Bitcoin is once again splitting into two, which could bring new trouble. Have in mind that fee estimators aren't perfect; an alternative service that shows you the currently optimal fee is this one. Bitcoin Fees for Dummies.

Here's how to deal with those ridiculously high, bitcoin transaction fees



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