Post
Topic
Board Bitcoin Discussion
Re: Your Experience with Bitcoin Fees?
by
fosco333
on 08/09/2018, 01:28:22 UTC
I just did a transaction where I paid 1 cent in fees and it confirmed on the next block. Not only that but the next block came within half a minute of me doing my transaction.

The whole thing was almost implausibly good.

Generally, I always worry about fees but they never amounted to much in my experience of bitcoin. I don't do anything special. I use the latest stable version of bitcoin core and let it calculate the fees for me, I just use default settings.

According to bitinfocharts the average is $1, but my transaction of 160 something bytes only took 0.01 cents.

According to https://bitcoinfees.earn.com/ I should have paid 4 satoshis per byte, amounting to 0.04 cents.

Bitcoin fee is indeed quite high, but i think it is because the price of bitcoin is already high.
The other altcoins are indeed have a cheaper fee, for example Litecoin. It have very cheap transaction fee.