Post
Topic
Board Web Wallets
Re: Exaggerated Fee on blockchain ($134)
by
Bitcoin_Arena
on 29/10/2020, 23:17:49 UTC
Are these all the transactions you carried out when transferring BTC to you your current address?
If yes, then we are already looking at 8 inputs (incoming bitcoin transactions) and inputs carry a lot of data in virtual bytes. So when you are making an outgoing transaction. It's going to consist of 8 inputs which means the size of your transaction in virtual bytes is going to be huge, porbably above 1000 bytes

The size of transaction x the fee rate in vbytes is the total fee you have to pay in BTC but I believe it should be in the range of $40 with the current optimal fee rate.

This still means that blockchain wallet has exaggerated your optimal fee. IS there a chance that you backed up your blockchain wallet's recovery phrase?