How to Set The Bitcoin Transfer Fee (Quick Guide)

in bitcoin •  7 years ago 

Hi there!

If you're sending Bitcoins and you don't know what fee to set - here's the most simple and easy way to set it right.

1. Go to: https://btc.com/stats/unconfirmed-tx

2. Check the number on the top of the screen - this is your best fee :)

Now some explanation. Here's how the https://btc.com/stats/unconfirmed-tx website looks like:
1.png

This is the current fee distribution in the Bitcoin network. The colours represent how much time transactions with the selected fee need to be processed.

On the screenshot you can see that currently almost all transactions have fee below 20 Satoshis per byte. So if you set it to 40 or at least 21 - your transaction will have priority over almost all other transactions that are currently waiting to be processed. Easy :)


Other useful Bitcoin posts:

How To Check Bitcoin Transfer Speeds
TradeBlock - Awesome Live Bitcoin Blockchain Viewer


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Thanks for the info, most wallets dont calculate this right

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excelente!

Realy very hepful post.. My greeting dear :)

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Recently I have sent a lot of transactions of 5 and 10 sat/B which got confirmed in the next block. If your transaction is not urgent, please set a low fee. I don't understand why some people set a fee of 600 sat/B. It's not necessary right now.

great tips nice keep hard work man

Thanks for sharing... Love it.

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Thanks for the 100sbd

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Thanks a lot @tipu for your tip

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Thanks for sharing :D

Thanks for coming my way. Steem on.

thanks for information !! <3

thnks for the tip! :)

A very useful article @tipu. Hope to read more from you

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Interesting info @tipu will check this out, @marketanalysis what do you think of this method?

thanks for the information.
I'm new in steemit, please input from senior @

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Nice post @tipu, thank you for sharing

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