Cryptocurrency Q&A
How much does a bitcoin transaction cost?
How much does a bitcoin transaction cost?
Valentino
Tue Jul 09 2024
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7 answers
1513
Could you please elaborate on the cost associated with a Bitcoin transaction? I'm curious to know if there's a standard fee or if it varies depending on factors such as the transaction size or the current network congestion. Also, is there a minimum fee required for a transaction to be processed? Additionally, are there any additional costs or fees that I should be aware of when making a bitcoin transaction? Understanding the total cost involved would help me make an informed decision when it comes to using bitcoin for financial transactions.
7 answers
Martino
Thu Jul 11 2024
Currently, when considering the promptness of Bitcoin transactions, a significant factor is the transaction fee.
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EthereumEagleGuard
Thu Jul 11 2024
As per bitcoinfees.earn, the fastest way to ensure a transaction is processed immediately requires a fee of approximately 102 satoshis per byte.
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Andrea
Wed Jul 10 2024
Given the median transaction size of 224 bytes, this translates to a total fee of 22,848 satoshis.
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Nicolo
Wed Jul 10 2024
Applying this rate to the median transaction size of 224 bytes results in a total fee of roughly $9.
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MysticInfinity
Wed Jul 10 2024
Converting this to USD, the cost amounts to approximately $11 for an immediate transaction.
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