Cryptocurrency Q&A
How to calculate Bitcoin transaction fee?
How to calculate Bitcoin transaction fee?
ShintoBlessing
Tue Nov 26 2024
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7 answers
1626
I'm trying to figure out how to calculate the transaction fee for Bitcoin. I need to understand the process of determining the fee so that I can make sure I'm not paying too much when sending Bitcoin to others.
7 answers
Dario
Thu Nov 28 2024
The BTC Fee Estimate Formula is used to calculate the approximate fee for a Bitcoin transaction.
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IncheonBlues
Thu Nov 28 2024
The formula is simple: Estimated Fee = approximate fee per kilobyte x transaction size.
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isabella_taylor_activist
Thu Nov 28 2024
To determine the transaction size, you need to know the number of inputs and outputs in the transaction.
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Stefano
Thu Nov 28 2024
The formula for transaction size is: Transaction Size (in bytes) = (Number of Inputs x 148) + (Number of Outputs x 34) + 11.
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KpopHarmonySoul
Wed Nov 27 2024
Each input and output contributes to the transaction size, with inputs taking up more space than outputs.
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