I was attempting to buy about $90 seeds just now with bitcoin. I am surprised (shocked!) that the fee to transmit $90 worth of BTC would be about $28. And this is from my own wallet. Bitcoin transaction fees are supposed to be miniscule. If I pay with a credit card than it would be only the $90 because there is no fee to the buyer with a credit card.This seems absurd to me. Is anyone here upset about these fees?
maybe 2.80$ but$28.00 nah i’m out on that…
yea,that would have stopped me in my tracks…lol
idk about all of that…
I don’t think so. A lot of people are having trouble buying and selling because the exchanges can’t keep up with the orders. Therefore they are charging a lot of money. High fees is contrary to one of the main advantages of BTC. But the trading infrastructure was not robust enough to handle all of the mania. If you go on reddit you can see a lot of people are complaining about the high fees.
Wow that’s crazy! I was able to buy 3 sets of seeds at different times in Oct/Nov and fees were no more then $4. I sure wouldn’t do $28. I hope that once things settle the fees drop cause I like using it now…
@Whitepot @BIGE The values are extremely Volatile. Coinbase-the main exchange is either slow due to congestion or completely down, as it is now. It takes 2 or 3 days for trades to settle. I was able to convert some bitcoin cash to cash. That went through immediately. Ironically it’s cheaper to send via normal charge card then on a blockchain.
Pretty sure you can set the fee but lowering it will make it take longer I usually lower it and wait for confirmation.
I just tried to make a purchase with BTC for seeds, i’m from the US, and still have 0 confirmations. I didn’t send it to blockchain since I wanted to avoid 2 transaction fees (its ~$30/transaction!).
Do you really think coinabase will ban me? or is it just because of high trading volume that the delays are expected?
Well, I don’t know but I would believe ILGM since they accept bitcoin