Post
Topic
Board Economics
Re: question about transaction fees...
by
Flor1982
on 28/12/2017, 02:41:51 UTC
I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

Why do you believe this issue will be solved within the week?

This is just his presumption but it is possible to be true because the reason why there is a heavy traffic happening in the blockchain is because of the holiday season that people need to sell their BTC for fiat to spend on Christmas and the new years preparation. In addition, the occurrence of btc crashes in which makes panic to some people to do massive btc transactions but maybe next year it will be all back to normal now including the traffic.