WHY are transaction fees so HIGH!steemCreated with Sketch.

in #bitcoin • 7 years ago (edited)

I was just about to send all the BTC I have on exodus somewhere. I only have .03 BTC. I can only send .026 BTC and the other .04 would be a transaction fee. Why is the transaction fee so damn high? I thought it was suppose to be cheap. Here is a picture. The fee was over $11. Where is that money going?

#exodus #fees
7 years ago in #bitcoin by
$0.39
  • Past Payouts $0.39, 0.00 TRX
  • - Author $0.30, 0.00 TRX
  • - Curators $0.09, 0.00 TRX
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     7 years ago 

    It must mean that the BItcoin network is really busy right now. I'd try again later.

    I don't know what Exodus is, but there must be a way to set the transaction fee lower and just wait longer for the BTC to be transacted.

    Bitcoin is so popular right now, that it has huge busy times and as a result, if you want a transaction to go through quickly it costs more.

    If you can't configure Exodus to lower the transaction fee (I think it should only cost 0.0002 as a minimum fee but longer wait time) then I think you have to start using a different bitcoin wallet. Good luck.