Altcoins Benefit as Bitcoin Transaction Fees Rises
Altcoins provide an alternative solution to maximize investments. But that is not all, as most of these alternative offerings have much lower transaction costs as well. For the umpteenth time in the past year or so, the Bitcoin transaction fees are skyrocketing once again. This is not particularly good news for a cryptocurrency often referred to as a cheaper way to send cross-border payments. While the transaction cost is still low compared to other offerings, some users are looking for better offerings in the altcoin scene. According to a chart found on Reddit, the Bitcoin transaction....
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The bitcoin developers are about to reduce the transaction fees on the bitcoin network tenfold, thanks to the relatively high value of the digital currency. Transaction fees are small amounts paid to send bitcoin transactions around the network (think of them like postage stamps) and to get miners to confirm them by including them in a mining block. They're paid in satoshis (tiny amounts of bitcoins), which means that as the price of bitcoin rises, the transaction fees get higher. Recent fluctuations in the bitcoin world may have set the price yo-yoing, but that doesn't mean that it isn't....
The increasing amounts of Bitcoin transactions have slowly led to an increase in Bitcoin fees as miners favor the transactions with fees as priority transactions. This means that it can take a longer time for a Bitcoin transaction to clear. Some transactions, small ones without fees generally, can be lost to the Bitcoin ether, only to be returned to sender a few day later. Transaction fees have been touted as one of the best reasons to use Bitcoin. The world’s first truly international value transfer system boasts the lowest transaction fees. Though these fees have been quietly rising over....
Data shows Bitcoin daily miner revenue rose to $60 million in the past week as transaction fees observed an increase. Bitcoin Transaction Fees See A 19% Increase Over The Last Week As per the latest report from Arcane Research, BTC mining hashrate has seen further rise in the past week, accompanied by an increase in […]
On April 21, Bitcoin network fees touched an all-time high according to a number of transaction fee aggregators. The average bitcoin transaction fee is approximately $59.88 and the median fee is around $26.44 USD per transfer. Bitcoin Fees Climb Sky High After the Hashrate Plummeted The cost to send a bitcoin (BTC) transaction has never been higher in terms of average fees. In terms of the median value, charts show median fees are nearing an all-time high (ATH) as well, but are not quite there yet. The average fee rate touched an ATH of around $59.88 per transaction on Tuesday evening....
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized fees have slid below $4 per transaction. Moreover, layer two (L2) transaction fees have also dropped in recent times as the lowest L2 rate today is $0.03 per transfer.
Average and Median Ethereum Fees Drop
From mid-March up until the first week of April, Ethereum’s average network fees rose from a low of $5.98 per transfer to $43.41 on....