Post
Topic
Board Trading Discussion
Re: Why do BTC fees vary so much?
by
pawanjain
on 22/02/2021, 14:46:44 UTC
If I transfer .002 BTC from Coinbase to Ledger the fee is around $2.20. If I transfer the exact same amount of BTC .002 back to Coinbase from Ledger at the same time the fee is $16.50.... Why are the fees so drastically different? Why is Ledger "charging" so much more... I found the fees similar and high for Trezor wallet too.

Thank you.

It depends on multiple factors such as the size of mempool at that particular time, the amount of network congestion, the number of UTXOs the wallet is using etc...
This is why it is recommended to use wallets which has the option to customize transaction fees and to select particular UTXOs to be used for the output transaction.
This saves us from high transaction fees when we can wait a little longer for the transaction to be confirmed.