Bitcoin

Bitcoin transaction costs are reduced to half, the network recovers quickly with Breaking News

The cost of making a Bitcoin transaction to be in the five-day period by 50 percent. Also, if the blockage is in the blockchain of bitcoin has declined. Previously, the transaction costs have increased dramatically, by as much as 2,000 per cent since the beginning of the year 2020.

Transaction costs are cut in half

The chart below is taken from the Bitinfocharts. You are looking at the average transaction in dollars.
At the beginning of the year cost of a bitcoin transaction is only 50 cents. In may, it was the number of transactions is up, as there are less blocks to be found by the bitcoin miners. As a result, the transaction costs to 6,64 dollar homes. In the meantime, these costs will be more than cut in half. A bitcointransactie will cost you an average of 3,06 usd.

You don’t have that much to pay

This figure is the average for a quick finish of a deal. You don’t need a full pound to be paid in one transaction. Do you have to be more patient? You can also have a less fee, megeven of your transaction. In some wallets, you can set up your own.
The minimum transactiefee that you can give is a 1-satoshi-per-byte. Depending on the size of the transaction, you’ll pay only a few cents in transaction fees. That is the size of the transaction is in fact complex and technical. Your transaction can be expressed in terms of bytes, the number of inputs and outputs.
Enter the minimum number of costs, then it may take up to a couple of transactieblokken before the transaction is processed by bitcoin miners. Miners often before transactions with a higher fee, because they can earn more.

Lightning network and can help you too

And you do not want to be dependent on the amount of congestion on the bitcoin blockchain, you can see the lightning network. The lightning software is one of the betaalnetwerk outside of the blockchain of bitcoin. Through this network, you can quickly and with a minimum of transaction costs, the value to send. How the lightning is the network works can be found here.

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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