Post
Topic
Board Beginners & Help
Re: Bitcoin fee's - best wallet is?
by
p3rplexamous
on 14/10/2017, 23:33:06 UTC
Hello,

I am currently running an electrum wallet and honestly the fee's are trough the roof. For an average transaction speed I'm looking at about 12 dollars, which is insane.
Are there wallets with lower fees?

Fees suggested by wallets are all estimates based on their algorithms, the current capacity of the mem pool and your speed preferences.  Most of the time, no matter what a wallet suggests, you can decrease the fees and have it go through in the next few blocks.  This works well on the weekends as well, when the number of transactions is typically lower.

In short, all wallets will suggest fees, but none tell you what to pay.  If the fee is high in one wallet, and lower in the other, it is only because they are suggesting lower fees based on the current transaction fees being paid at that moment.  If you are not in a huge rush to receive the funds, put a lower transaction fee and it should go through within the next day or so at the most.  I know this is not optimal but Bitcoin is getting blasted with high transactions right now.