I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Everyone is trying to counter this problem, but unfortunately these transfer fees do not have a solution. Bitcoin transfer is not approved for 2-3 days when we pay miners fees low. Today a normal transfer fee is between 0.001-0.0015 Bitcoin.
It means that, when price go higher the more we pay high fees. I know people get worried about this, but unfortunately we have nothing to do to stop this or else your can't make transaction success. Of course we want to make our transaction go faster, but due to the bulk numbers of transactions process everyday it could be more priorities those who are paying in high fees.