Post
Topic
Board Bitcoin Discussion
Re: How long the high transaction fees will last?
by
zanezane
on 08/05/2023, 14:14:17 UTC
I haven't read the news yet, but it's been several days since the transaction fee has been very high. I checked on https://mempool.emzy.de/ and this is what I see now.

As a gambler, I'm a bit worried if this trend will continue because I have some fraction of bitcoin that I'd like to use for gambling, especially for the NBA playoffs. So for my fellow gamblers, or those who really need to transact with their bitcoin, what are the best things to do now in order to save from fees and avoid having our transactions stay unconfirmed for too long?
Transaction fees for bitcoin have been quite high lately due to the increased demand for block space in the network. This can make it expensive and slow to send Bitcoin transaction, which is also concern for many users like you OP.

You can use transaction accelerator, some mining pools and other services offer transaction accelerator that can help to speed up the confirmation of your transaction. You may have to pay a small fee to use these services, but it can be worth it if you need your transaction to be confirmed quickly. also you can use Bitcoin Lightning Network, if you have access to a lightning wallet and a Lightning-enabled merchatn, you can make transaction instantly and with low fees. If you're not tied to using Bitcoin, you can consider using other cryptocurrencies that have lower transaction fees and faster transaction times, such as Litecoin or Bitcoin cash. You can also report it to costumer service.

Hope it helps!!