How do you calculate a reasonable transaction fee?

1

These days transactions are taking a very long time to confirm. Higher transaction fees could be a possible solution. I want to know how to calculate a reasonable transaction fee, which is not so expensive and results in less time until confirmation (within 10-15min). Could you advice me on how to implement it?

zono

Posted 2016-03-02T05:03:01.727

Reputation: 1 569

Answers

5

See https://bitcoinfees.21.co/ for mempool size and tx fee. This will suggest fee in satoshi/byte depending on current network conditions.

If you are looking to exact fee in BTC for spending from wallet, you can try https://github.com/shivaenigma/btxfees.

dark knight

Posted 2016-03-02T05:03:01.727

Reputation: 1 532

I was quite surprised at the size of fees - the 5000-10000 satoshi fees per transaction (2-5 cents?) are larger than participants/banks would pay for an international wire transfer in e.g. EU SEPA CT system. – Peteris – 2016-03-02T11:01:47.307

Asked: 2016-03-02T05:03:01.727

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Active: 2016-03-02T06:20:45.183