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.
Bitcoin fees are still within reasonable limits, in contrast to Ethereum fees, they are unnatural! and very disappointing, the fees from bitcoin have risen because the dense network makes transactions slow, and it must cost a fortune for miners to work fast, this is what the problem must be solved for bitcoin, because if not then bitcoin will not be a means of payment, it's just an asset.
It can still be a means of payment if there will be a lot of merchants that will utilize the Lightning Network. It is not yet popular, but if this will go mainstream, a lot of people will like to use bitcoin LN because of its very minimal fees. And right now, a lot of crypto users are still familiar with the bitcoin on-chain, in which, the fees are dependent on the mempool activity. So if you want to avoid high fees, you can also check the mempool activity before you send your bitcoin, that is, if the time is not important for you.
LN is still on that testing or development stage where it cant really be just used to be as main driver but actually there are already sites or services that do make use LN but it isnt really still recognized
nor suggested to be going on main.
Bitcoin fees now are way too high even with the lowest priority having almost 10 bucks for you to pay but if you do like have fast transaction or confirmation then paying up more would be the best.