Bitcoin fees

[kayode10]

The Bitcoin fee they are charging on transaction will prevent a lot of people from using Bitcoin online. Now I know the reason why some platform are rejecting Bitcoin for training.

 

[Aaron625]

well, here is a possible reason, for example, a transaction fee of a 0.0001 BTC transaction is 0.00005 BTC, as for BTC, it might be too low, but since Bitcoin's value is too high, you might find it very high because Bitcoin's value keeps kind of increasing

Sometimes the fees will be almost the same while transacting even bigger amounts. It just took 0.00001 btc for sending 0.001 btc with average gas value.

 

[tuna89]

You are right but I think the likes of the altcoins were created as well to be able to solve the issues of high transaction fees as to be able to improve user experience.

 

[Chibson]

The fees for sending out bitcoin and some cryptocurrencies is very high and that is the reason why I always use litecoin and I some other ones that does not have high fees.

 

[harrypaul]

That is why many new traders prefer to trade on the Bitcoin cash because it's fees is cheaper than Bitcoin and it's transaction is faster.
But still when it comes to transaction, ripple still have the best block chain as it is able to carry out a greater number of transaction in a second more than Bitcoin, more reason why the banking industry are looking up for ripple more than Bitcoin

 

[Bousine123]

I think it depends on the amount of transaction you are performing in the wallet. Had similar issue off late but I knew if I reduced the fee it would take a lot longer to deliver.

 

[joy101]

I don't really see bitcoin fees as something that is high maybe it can depend the amount of money or transaction you really want to make.

 

[Sotherefore]

This is completely dependent on the amount of cryptocurrency you are sending out and also the congestion of the blockchain of that particular particular coin that will determine the fee.

 

[Filicit]

Crypto exchange wallets have noticed this problem and come up with a solution, now sending any coin including bitcoin to another wallet in the same crypto wallet exchange is lower fees and fast

 

[Elfinito]

The Bitcoin transaction fee is quite much, but some of the fees really depend on the exchange that you are using.
Every exchange platform has it's own transaction fee rate and it varies depending on the amount of coins you are trading

 

[greenie]

Bitcoin fees are really a problem 10$ for transaction is too high fees the only way is to use a defferent crypto like Litecoin
it has very low transactions fees i wish the BTC fees will be reduced

 

[Busybee]

Bitcoin was the first introduced cryptocurrency and its main focus was on security rather than scalability hence there is a tremendous process that goes behind every transaction that increases the gas price. The gas fee would be lower when the network is free and available, find out at what time of the day the network is free and check the gas fees, it would be probably lower at that time.

 

[Sincerem]

Bitcoin doesn't charge any fees for transaction, it is the crypto currency exchange wallet you are using that charges you fees so that can generate revenue and still maintain the qualities of the site.

 

[tyrim88]

Bitcoin fees are really a problem 10$ for transaction is too high fees the only way is to use a defferent crypto like Litecoin
it has very low transactions fees i wish the BTC fees will be reduced

That is definitelly one of the issue with bitcoin,because the fees for carrying out transaction is way too high,and that could be as a result of the congestion of their network during peak period and also the volume of trade.

 

[Kelly5]

When the price of any cryptocurrency like ethereum or Bitcoin or Litecoin goes up, you tend to see that the transfer fees becomes lower and when it goes down the dip, the transfer fees likewise becomes higher. That's just how it works.

 

[Bigron]

If you've been using bitcoin lately you might have noticed that the fees are extremely high. You have to have 7-10$ for a transaction fee and even so you have to wait 1 hour for the transaction to get confirmed. How much do you think the fees are affecting the bitcoin market?

As the market for digital currencies expands, so do the volumes of transactions, which puts pressure on the blockchain network. People are
thus prepared to pay substantial costs in order for their payments to be verified immediately,

 

[Rolly_blen]

If you've been using bitcoin lately you might have noticed that the fees are extremely high. You have to have 7-10$ for a transaction fee and even so you have to wait 1 hour for the transaction to get confirmed. How much do you think the fees are affecting the bitcoin market?

I've always been upset about the high gas fees for the ethereum blockchain, and even more so with the excessive BTC fees. This leads me to question if the increase in the value of bitcoin has influenced the exorbitant fees.

 

[Sotherefore]

It is almost impossible for us to do anything about the fee that is attached to bitcoin when transferring it out . That is what I paid when I mistakenly sent little cryptocurrency to my wallet. It's was so annoying

 

[tyrim88]

Bitcoin fees are really a problem 10$ for transaction is too high fees the only way is to use a defferent crypto like Litecoin
it has very low transactions fees i wish the BTC fees will be reduced

That is true,lots of person do not really like to do transaction with their bitcoin,aside from the slow network the issue of fees is a major setback,i make use of litecoin for my transaction.

 

[Sincerem]

The price of Bitcoin is down currently and the fee will definitely reduce . As the price increases the fee will continue to increase. Bitcoins as a cryptocurrency is not really necessary for transaction purposes because of that.