Re: Why are Bitcoin Transfer Fees so high? Is Privacy a joke?
Thanks for that Fincen link.
For the first transaction, it was $10 for which they charged 36.28%. Check this
The second comic was for $18 for which they charged over 58%.
Called it Miner fees.
For $28 worth of products, I ended up paying $43.
@boyptc Do you know of a Network (other than Paxful) where I can maintain Privacy and also be able to sell my digital goods for BTC? It's mostly Gift Cards collected from Review Sites. I am also looking for a private and secure marketplace to sell my Rare Comic collection.
Thanks.
1. Because you don't know the best times or days when the Bitcoin transaction fees are at their lowest. You probably transacted during the peak hours or peak days. Always learn to transact when the Bitcoin fee rate for quicker confirmations is at its lowest.For the first transaction, it was $10 for which they charged 36.28%. Check this
The second comic was for $18 for which they charged over 58%.
Called it Miner fees.
For $28 worth of products, I ended up paying $43.
@boyptc Do you know of a Network (other than Paxful) where I can maintain Privacy and also be able to sell my digital goods for BTC? It's mostly Gift Cards collected from Review Sites. I am also looking for a private and secure marketplace to sell my Rare Comic collection.
Thanks.
Personally i have never spent more than $2 worth of bitcoin transaction fees even with the recent Bitcoin transaction fee spike.
2. You are probably using services that do not support segwit . Use of segwit addresses tends to reduce the transaction fees to some extent