Post
Topic
Board Beginners & Help
Re: Help me understand how to read the blockchain transaction history..
by
bitmover
on 18/12/2019, 03:00:01 UTC
I'm fascinated by the fact that we can set the fee. Suppose I set it to the minimum (or zero...?) is the transaction guarenteed to go through (with the delay)? Thanks.

The  minimum fee you can set is 1 sat/byte.
The total fee depends on the size of your transaction, which increases with the number of inputs and outputs (so the total fee vary)

Even 1 Sat/byte transactions are guaranteed to go through,  but you may have to wait a couple of days. Personally,  I see no problem in waiting a few hours or even 2days (never waited more than 36hours and i always use 1sat/byte.

One additional parameter which let you control the fee is the type of address.  If it is segwit  your transactions are smaller so they are cheaper. I recommend  you download electrum.org wallet for desktop or samurai wallet for android to get to know bitcoin a little more

Few years ago you could make 0sat /byte transactions,  but not anymore.