Post
Topic
Board Bitcoin Discussion
Re: Will the transaction fee will high if I send small amount under $50
by
Charles-Tim
on 19/12/2023, 06:52:08 UTC
Will the transaction fee will high if I send small amount under $50
hd49728 has given the correct answer. The fee paid is determined by

  • the fee rate used, which is determined by how congested the mempool is. The higher the congestion, the higher the fee rate and the higher the fee to be pad
  • the number of inputs and outputs. As the inputs increases, it makes the virtual size of the transaction to increase. Also the output, but we can say increase in output still decrease the transaction fee because if you send to the individual address one by one, the fee paid will be high than sending to many addresses at ones.
  • the address type used. If you use segwit, the fee to be paid will be lower than while using legacy addresses.