Cryptocurrency Q&A
How is BTC sending fee calculated?
How is BTC sending fee calculated?
Federico
Wed Nov 27 2024
|
6 answers
1080
I want to know how the sending fee for BTC is calculated. What factors influence this fee and how can I determine the amount I need to pay when sending BTC?
6 answers
isabella_doe_socialworker
Fri Nov 29 2024
This unit of measurement is abbreviated as sats/vByte, which represents the cost per virtual byte of data used.
Was this helpful?
175
79
CryptoChieftainGuard
Fri Nov 29 2024
The total fee paid by a transaction is determined by multiplying the sats/vByte rate by the size of the transaction.
Was this helpful?
79
56
KimchiChic
Fri Nov 29 2024
The size of a transaction depends on the amount of data it contains, such as the number of inputs and outputs.
Was this helpful?
395
75
benjamin_stokes_astronomer
Fri Nov 29 2024
Historically, transaction fees on the blockchain have averaged between $0.50 and $2.51.
Was this helpful?
245
47
InfinityRider
Fri Nov 29 2024
The fee rate for transactions on the blockchain is calculated in satoshis per unit of data consumed.
Was this helpful?
72
55
Load 5 more related questions
