PSA: Always check bitcoinfees.21.co before setting your tx fees!

247 Bitcoin

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


It seems the transaction backlog has reduced quite a lot the last few days…. approx 32k unconfirmed transactions at the time of this post, but wallets seem to be unable to properly calculate fees for that?

Last night I was moving coin between wallets and Electrum mobile wallet's dynamic fees suggested to me that a fee of 700+ sat/byte would be included in the next block. Instead I checked bitcoinfees.21.co and it showed that 30 sat/byte would be included within 3-25 blocks. That wait was fine with me so I sent two transactions at 30 sat/byte(the lowest manual fee it let me set) and both confirmed within ten minutes(the next block!). So instead of paying $4 to move $20 worth of coin I paid like 70 cents.

Always double-check before you send!

submitted by /u/-xTc-
[link] [comments]

247 Bitcoin

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


Leave a Reply