Post
Topic
Board Beginners & Help
Re: bitcoin transfer fees?
by
saddambitcoin
on 23/05/2014, 14:51:23 UTC
First of all I'm no computer wizz so maybe its something I'm doing wrong but I always read articles that say it only costs a tiny percentage to send bitcoins, today I sent $0.05 from my blockchain wallet to a different wallet I have just as a test and it cost me $0.11 in fees, WTF, and I thought banks were ripping me off.


read up on http://bitcoinfees.com/

the default transaction fee is 0.0001 BTC (0.1 mBTC) so that's about 5 cents. if there are a lot of small inputs from many addresses, the size of the transaction will be larger, thus requiring a higher fee than usual.

yes this is a problem with bitcoin, it becomes difficult to send microtransactions.